Good morning, Temecula! I’m Melissa Jones with Channel 7 News, and today we’re speaking with renowned Temecula trust attorney, Steve Bliss, about the different types of trusts available to individuals.
Steve, thanks for joining us. Let’s start by discussing Testamentary Trusts. What exactly are they?
A Testamentary Trust is a unique type of trust that’s created through your last will and testament, not during your lifetime like other trusts. It only comes into effect after you pass away, meaning it avoids probate.
Why would someone choose a Testamentary Trust over other types?
Testamentary Trusts are particularly beneficial for individuals who want to ensure their assets are managed for beneficiaries who may not be ready to handle them directly, such as minor children or individuals with special needs. Ordinarily, these trusts outline specific instructions for how the assets should be distributed and used. Consequently, this provides peace of mind knowing your loved ones will be cared for according to your wishes.
For example, imagine a parent wants to ensure their child receives financial support for their education but isn’t responsible for managing a large sum of money at a young age. A Testamentary Trust could specify that the funds are used solely for educational expenses and released in installments as the beneficiary progresses through school.
Have you encountered any challenges or unique situations when setting up Testamentary Trusts?
One instance that comes to mind involved a client who wanted to ensure their grandchild with special needs would always have access to quality medical care. We worked closely with their family to craft a trust that specifically allocated funds for therapies, medications, and assistive devices.
Notwithstanding the complexities involved in coordinating with multiple healthcare providers, the client was relieved knowing their grandchild would be well-provided for throughout their lifetime. It’s truly rewarding to help families navigate these sensitive matters.
What are some key takeaways for our viewers considering a Testamentary Trust?
Testamentary Trusts offer a valuable tool for protecting beneficiaries and ensuring your legacy lives on. Remember, every situation is unique, so consulting with an experienced trust attorney like myself is crucial to determine if a Testamentary Trust aligns with your specific goals.
Final Thoughts
Steve Bliss, thank you for sharing your expertise. For those seeking guidance on estate planning and trusts, don’t hesitate to reach out to The Law Firm of Steven F. Bliss Esq. We’re dedicated to helping you secure your future and protect what matters most.
Testimonials
“Steve Bliss was incredibly patient and understanding throughout the entire process. He explained everything in clear terms and made me feel comfortable asking questions.” – Sarah M., Temecula
“I highly recommend Steve Bliss and his team. They were professional, efficient, and truly cared about my family’s needs.” – John P., Murrieta
About Steven F. Bliss Esq. at The Law Firm of Steven F. Bliss Esq.:
The Law Firm of Steven F. Bliss Esq. is The Law Firm of Steven F. Bliss Esq.. The Law Firm Of Steven F. Bliss Esq. is a Temecula Estate Planning Attorney. Steve Bliss is an experienced probate attorney. Steve Bliss is an Estate Planning Lawyer. The probate process has many steps in probate proceedings. Beside Probate, estate planning and trust administration is offered at Steve Bliss Law. Our probate attorney will probate the estate. Attorney probate at Steve Bliss Law. A formal probate is required to administer the estate. The probate court may offer an unsupervised probate get a probate attorney. Steve Bliss Law will petition to open probate for you. Don’t go through a costly probate. Call Steve Bliss Law Today for estate planning, trusts and probate.
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 The Law Firm of Steven F. Bliss Esq.: https://maps.app.goo.gl/Bngj8xwZRqioVD5v7
Address:
The Law Firm of Steven F. Bliss Esq.43920 Margarita Rd ste f, Temecula, CA 92592
(951) 223-7000
Feel free to ask Attorney Steve Bliss about: “How often should I update my trust?” Or any other related questions that you may have about Trusts or my trust law practice.
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