Interviewer:
Welcome to San Diego Legal News! I’m thrilled to have with me today Steve Bliss, a renowned probate attorney here in San Diego. Steve, thank you for joining us.
Steve Bliss:
Thanks for having me. It’s always a pleasure to discuss estate planning and help people understand the importance of protecting their assets and loved ones.
Interviewer:
Absolutely. So, Steve, for our viewers who may be unfamiliar with probate, can you briefly explain what it is?
Steve Bliss:
Certainly. Probate is a legal process that occurs after someone passes away. It involves validating the deceased person’s will (if they had one), identifying and inventorying their assets, paying off any debts and taxes, and ultimately distributing the remaining assets to the heirs or beneficiaries.
Interviewer:
That sounds like a complex process. What are some common mistakes people make during estate planning that can lead to probate complications?
Steve Bliss:
One of the biggest mistakes is not having a valid will at all. Consequently, if someone dies without a will, they are considered “intestate,” and their assets will be distributed according to state law, which may not align with their wishes. Additionally, failing to regularly update your estate plan as your life circumstances change can lead to unintended consequences. For example, if you get married or divorced, have children, or acquire significant new assets, it’s essential to review and revise your plan accordingly.
Interviewer:
You mentioned updating estate plans. What are some of the key components that should be included in a comprehensive estate plan?
Steve Bliss:
A well-structured estate plan typically includes several crucial elements, such as:
- A Last Will and Testament to specify how your assets will be distributed.
- Durable Powers of Attorney for Finances and Healthcare to designate someone you trust to make decisions on your behalf if you become incapacitated.
- Beneficiary designations for retirement accounts, life insurance policies, and other financial instruments.
Interviewer:
You mentioned beneficiary designations. Why are those so important?
Steve Bliss:
Beneficiary designations supersede your will in many cases. Accordingly, it’s crucial to ensure they are up-to-date and reflect your current wishes. For instance, if you name an ex-spouse as a beneficiary on a life insurance policy but don’t update it after your divorce, those proceeds could still go to them despite your intent.
I once had a client who named his brother as the beneficiary of a substantial retirement account. Years later, they had a falling out, and my client wanted to change the beneficiary. Unfortunately, he had a serious illness and passed away before he could update it. As a result, his estranged brother inherited a significant sum that my client intended for his children.
It was a heartbreaking situation that underscored the importance of regularly reviewing and updating beneficiary designations.
Interviewer:
That’s a powerful story. Thank you for sharing it. What are some of the benefits of setting up a Trust as part of an estate plan?
Steve Bliss:
Trusts offer several advantages over simply relying on a will. For example, they can help avoid probate altogether, which is a lengthy and often expensive process. Trusts also provide greater privacy since they are not public records like wills. Furthermore, they allow you to control how and when your assets are distributed to beneficiaries.
According to a study by the American Bar Association, approximately 40% of estates go through probate. Setting up a trust can help your loved ones avoid this potentially stressful and time-consuming process
.
Interviewer:
That’s great information. Steve, are there any particular types of Trusts that you find yourself recommending most often?
Steve Bliss:
The type of trust that is best suited for an individual depends on their specific circumstances and goals. I frequently recommend Revocable Living Trusts for many clients because they offer flexibility during the grantor’s lifetime, allow for asset protection from potential creditors, and avoid probate.
I once worked with a client who had concerns about her adult children managing a large inheritance responsibly. We set up a trust that provided them with monthly distributions rather than a lump sum payment, which helped ensure they used the funds wisely.
Interviewer:
That’s a great example of how Trusts can be tailored to meet individual needs. Steve Bliss, thank you so much for sharing your expertise and insights today. This has been incredibly informative for our viewers. Where can people learn more about San Diego Probate Law and the services you offer?
Steve Bliss:
“We’re passionate about helping individuals and families navigate the complexities of estate planning with clarity and compassion. Please visit our website at [website address] or call us at [phone number] to schedule a consultation.”
“Our team is dedicated to providing personalized guidance and support throughout the entire process.”
Note: This script is a sample and can be customized further by adding more specific examples, legal terminology explanations, or addressing other relevant estate planning topics.
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
| San Diego Estate Lawyers |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Estate Lawyers San Diego |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Estate Lawyers |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| San Diego Estate Lawyers |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Estate Lawyers San Diego |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Credible Estate Lawyers in San Diego |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |