Good morning, Temecula, and welcome back to the show. Today, we’re joined by Steve Bliss, a renowned trust attorney right here in our community. Steve, thanks for being with us.
Steve Bliss
It’s my pleasure to be here. Thanks for having me.
What are some of the most common types of trusts you help your clients establish?
As a trust attorney in Temecula, I frequently work with clients who want to protect their assets and ensure their wishes are carried out after they’re gone. Consequently, one of the most popular options is the Irrevocable Trust.
The Irrevocable Trust offers several compelling advantages. For starters, it removes assets from your taxable estate, which can be a significant benefit for those looking to minimize estate taxes. Moreover, it provides robust asset protection against potential creditors or lawsuits. Notwithstanding these benefits, it’s essential to understand that an Irrevocable Trust is, as the name suggests, permanent once established.
This means you relinquish control over the assets placed within the trust. Accordingly, careful planning and consideration are crucial before proceeding with this type of trust.
Have you encountered any challenges or unique situations while setting up Irrevocable Trusts for your clients?
I recall working with a family who owned a successful small business. They were concerned about potential liability from lawsuits. Ordinarily, I would recommend an Asset Protection Trust in such cases, but California law limits the effectiveness of these trusts. Consequently, we opted for an Irrevocable Trust instead.
We carefully structured the trust to shield their personal assets from business-related liabilities while still allowing them access to funds for essential living expenses. It was a delicate balance, and I’m proud that we were able to provide them with peace of mind knowing their hard-earned assets were protected.
What advice would you give to someone considering an Irrevocable Trust?
My primary advice is to consult with an experienced trust attorney. The complexities of Irrevocable Trusts require careful consideration of your individual circumstances, goals, and potential tax implications.
A study by the American Bar Association found that nearly 60% of individuals who attempt to create their own trusts without legal guidance make critical errors that can jeopardize the effectiveness of the trust. I urge everyone to seek professional help to ensure their wishes are properly documented and legally sound.
How can viewers connect with you for a consultation?
“Planning for your future can seem daunting, but it doesn’t have to be. Let our team guide you through the process. Contact us today for a free consultation and discover how we can help secure your legacy.”
Testimonial
“Steve Bliss was a lifesaver! He made the entire trust planning process so easy to understand, and he always took the time to answer my questions thoroughly. I highly recommend him to anyone looking for a trustworthy and knowledgeable trust attorney.” – Sarah M.
Testimonial
“I was initially hesitant about setting up a trust, but Steve put my mind at ease. He explained all the benefits and helped me choose the best option for my situation. Thanks to his expertise, I now have peace of mind knowing that my family is taken care of.” – John B.
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: “Can I put my house into a trust?” Or any other related questions that you may have about Trusts or my trust law practice.
Important Facts About The Law Firm of Steven F. Bliss Esq.
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