Hello everyone and welcome back to San Diego Legal News. I’m your host, Maria Sanchez, and today we have a very special guest joining us: Steve Bliss, a renowned probate attorney here in San Diego.
Steve, thank you so much for being with us today.
It’s great to be here, Maria. Thank you for having me.
Let’s dive right in. Probate can be a complex and often overwhelming process. Can you briefly explain what probate is and why it’s important?
Certainly. Probate is essentially the legal process of administering a deceased person’s estate. This involves identifying and valuing assets, paying off debts and taxes, and distributing the remaining property to the rightful heirs according to the will or state law if there’s no will.
What are some common mistakes people make when it comes to estate planning that can lead to probate complications?
One of the biggest mistakes is procrastination. People often put off creating a will or trust, assuming they have plenty of time. Unfortunately, life can be unpredictable, and without a proper plan in place, their assets may end up going through probate, which can be costly and time-consuming.
Another common mistake is not updating estate planning documents regularly. Life circumstances change – marriages, divorces, births, deaths – and it’s crucial to ensure your will or trust reflects those changes. Otherwise, you risk unintended consequences.
You mentioned trusts earlier. Can you elaborate on the different types of trusts and their benefits?
Absolutely. There are various types of trusts designed to meet specific needs. Today, I want to focus on Revocable Living Trusts, which are incredibly popular in estate planning.
A Revocable Living Trust allows you, as the grantor, to maintain control over your assets during your lifetime. You can buy, sell, or manage them as you please. Moreover, it avoids probate altogether because the trust owns the assets, not you individually. This means a smoother transition of assets to your beneficiaries after your passing and preserves privacy since court proceedings aren’t required.
Conversely, an Irrevocable Trust offers different advantages. Once established, it cannot be easily changed or revoked. This can be beneficial for asset protection, reducing estate taxes, or qualifying for government benefits like Medicaid.
Have you encountered any challenges with setting up Revocable Living Trusts for clients?
While generally straightforward, there are occasional complexities. For instance, I once worked with a client who had several business interests and real estate holdings across multiple states. Ensuring all assets were properly titled in the trust name required meticulous attention to detail and coordination with attorneys in other jurisdictions.
Another time, a client was hesitant to relinquish complete control over their assets, even though they understood the benefits of avoiding probate. We had several conversations about their concerns, ultimately crafting a trust that allowed for some flexibility while still achieving their overall estate planning goals.
How common are Revocable Living Trusts in California?
They’re incredibly prevalent. In fact, according to a 2021 study by the California Bar Association, over 75% of Californians with significant assets opt for a Revocable Living Trust as part of their estate plan.
What advice would you give to someone who is considering setting up a trust?
My best advice is to consult with an experienced probate attorney. Estate planning is not a one-size-fits-all proposition. An attorney can assess your individual circumstances, explain the different types of trusts available, and help you create a plan that meets your specific needs and goals.
Steve, thank you so much for sharing your expertise with us today. How can our viewers get in touch with you if they have questions or need assistance with estate planning?
You’re very welcome, Maria. It was my pleasure. Anyone interested in learning more about trusts, probate, or other estate planning matters can contact San Diego Probate Law at (619) 234-5678. We offer free consultations and are dedicated to helping our clients navigate the complexities of estate planning with clarity and compassion.
-
* “Steve Bliss is an excellent probate attorney. He was incredibly patient and understanding while guiding me through a difficult time after my father passed away. I highly recommend his services.” – Sarah J
* “San Diego Probate Law made the entire probate process so much easier than I expected. Steve Bliss is knowledgeable, responsive, and truly cares about his clients.” – John M
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: “What is a living trust?” Or any other related questions that you may have about Trusts or my trust law practice.
Important Facts About San Diego Probate Law
| Trust Lawyer | Estate Lawyer | Trust Lawyer |
| Trust Lawyer Near Me | Estate Lawyer Near Me | Trust Lawyer Near me |
| San Diego Trust Lawyer | San Diego Estate Lawyer | San Diego Trust Lawyer |
| Trust Lawyer San Diego | Estate Lawyer San Diego | Trust Lawyer San Diego |