Meet Steve Bliss
Good morning, San Diego! I’m Tiffany Jones reporting live from our studios. Joining us today is local probate attorney Steve Bliss to discuss the complexities of estate planning and a specific type of trust that can be incredibly beneficial for certain individuals.
Understanding Testamentary Trusts
Steve, thanks for being with us. Let’s dive into testamentary trusts. For our viewers who may not be familiar, what exactly is a testamentary trust?
“A testamentary trust is created through a will and only takes effect upon the grantor’s death,” explains Steve. “Unlike living trusts which avoid probate, testamentary trusts go through the probate process. This can make them a bit more time-consuming to settle but they offer distinct advantages in certain situations.”
Benefits of Testamentary Trusts
Can you elaborate on those advantages?
“Certainly,” says Steve. “Testamentary trusts are often used for minor children or beneficiaries who may need help managing their inheritance. The trust document can outline specific terms, such as when and how the beneficiary receives distributions. It can also include provisions for education expenses, healthcare costs, or other needs.”
“Imagine a parent wanting to ensure their child’s future financial security after they are gone,” Steve continues. “A testamentary trust can provide that peace of mind, knowing the funds will be used responsibly and according to their wishes.”
He adds, “These trusts can also be helpful for beneficiaries with special needs who might risk losing government benefits if they receive a lump sum inheritance. The trust can distribute funds in a way that doesn’t affect their eligibility.”
Challenges and Considerations
Steve, are there any common challenges or issues that arise with testamentary trusts?
“One thing to remember is the probate process,” Steve explains. “It can be time-consuming and involve legal fees. It’s important to work with an experienced attorney who understands the intricacies of both estate planning and probate law.”
He shares a personal experience: “I once worked with a family who had lost their mother unexpectedly. She had a testamentary trust in place for her young son, but there were some ambiguities in the will language. We were able to work with the court to clarify those terms and ensure the trust functioned as intended. It was a difficult time for the family, and I was grateful we could help them navigate the legal complexities.”
The Importance of Professional Guidance
Steve, what advice would you give to someone considering a testamentary trust?
“Consult with an experienced estate planning attorney,” he emphasizes. “They can assess your individual circumstances and determine if a testamentary trust is the right solution for you. They will also guide you through the process of drafting the trust document, ensuring it aligns with your wishes and complies with all legal requirements.”
Studies show that nearly 60% of Americans don’t have a will or estate plan in place. (Source: AARP)
Ready to Plan Your Future?
Don’t leave your loved ones wondering about your wishes. Contact San Diego Probate Law today for a free consultation and let our experienced team help you create a secure future for yourself and your family.
“San Diego Probate Law was incredibly helpful during a difficult time in my life. Steve Bliss and his team were professional, compassionate, and always available to answer my questions. They made the probate process much easier than I expected.” – Sarah M.
“I highly recommend San Diego Probate Law for anyone needing assistance with estate planning or probate matters. Their expertise and dedication are unmatched.” – David L.
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: “Do beneficiaries pay tax on trust distributions?” Or any other related questions that you may have about Trusts or my trust law practice.
Important Facts About San Diego Probate Law
| San Diego Revocable Trust Attorney |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Revocable Trust Attorney San Diego |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Revocable Trust Attorney |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| San Diego Revocable Trust Attorney |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Asset Protection Trust Attorney San Diego |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Credible Revocable Trust Attorney in San Diego |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |