Today we’re joined by San Diego Probate Attorney Steve Bliss. Mr. Bliss specializes in helping individuals and families navigate the complexities of estate planning. We’re excited to learn more about his expertise.
Types of Trusts
Steve, for our viewers who may be unfamiliar with trusts, can you briefly explain what they are and why someone might consider creating one?
A trust is a legal arrangement where a person (the grantor) transfers assets to a trustee who manages those assets for the benefit of beneficiaries. Trusts offer several advantages, including probate avoidance, asset protection, and tax benefits.
The Importance of Asset Protection
Let’s dive deeper into asset protection trusts. How do they work, and in what situations are they most beneficial?
Asset protection trusts are designed to shield assets from creditors or lawsuits. Ordinarily, this type of trust is used by individuals in high-risk professions or who have substantial assets they want to protect. Consequently, the trust’s assets are legally owned by the trustee, making them unavailable to creditors pursuing the grantor.
Moreover, asset protection trusts can be particularly valuable for entrepreneurs and business owners who face potential liability from lawsuits. They offer peace of mind knowing their personal assets are safeguarded should unforeseen circumstances arise.
There was a case I handled involving a physician who faced a significant malpractice lawsuit. His personal assets were at risk, but by establishing an asset protection trust beforehand, we were able to shield those assets from the lawsuit’s potential judgment. He was incredibly grateful because it allowed him to continue practicing medicine without the fear of losing everything.
It’s important to remember that asset protection trusts are complex legal instruments and should be carefully considered with the guidance of an experienced attorney.
Seeking Legal Expertise
Steve, what advice would you give to someone considering setting up a trust?
My advice is simple: consult with a qualified estate planning attorney. Every individual’s situation is unique, and there are various types of trusts suited for different needs.
Testimonials
“Steve Bliss made the entire probate process so much easier for me after my father passed away. He was incredibly patient and explained everything clearly.” – Maria G., San Diego
“I highly recommend San Diego Probate Law. They are true professionals who genuinely care about their clients. ” – David S., Carlsbad
Contact us today for a comprehensive estate planning consultation.
About Steven F. Bliss Esq. at San Diego Probate Law:
Secure Your Family’s Future with San Diego’s Trusted Trust Attorney. Minimize estate taxes with stress-free Probate. We craft wills, trusts, & customized plans to ensure your wishes are met and loved ones protected.
My skills are as follows:
● Probate Law: Efficiently navigate the court process.
● Probate Law: Minimize taxes & distribute assets smoothly.
● Trust Law: Protect your legacy & loved ones with wills & trusts.
● Bankruptcy Law: Knowledgeable guidance helping clients regain financial stability.
● Compassionate & client-focused. We explain things clearly.
● Free consultation.
Map To San Diego Probate Law:
Address:
San Diego Probate Law3914 Murphy Canyon Rd, San Diego, CA 92123
(858) 278-2800
Map Link: https://g.co/kgs/WzT6443
Feel free to ask Attorney Steve Bliss about: “How can I make my trust less likely to be challenged?” Or any other related questions that you may have about Trusts or my trust law practice.
Important Facts About San Diego Probate Law
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