A Look into California Trusts
Welcome back to San Diego Legal News. Today we’re joined by Steve Bliss of San Diego Probate Law to discuss a topic that’s important for many individuals and families: trusts.
Steve, can you give our viewers an overview of the different types of trusts available in California?
Understanding Revocable Living Trusts
There are numerous types of trusts, each designed with specific goals in mind. One of the most common is the Revocable Living Trust. This type of trust allows individuals to maintain control over their assets during their lifetime while avoiding the lengthy and often costly probate process upon their death.
Consequently, a Revocable Living Trust offers both flexibility and peace of mind. The grantor, or creator of the trust, can amend or revoke it as circumstances change. Moreover, because the assets are held within the trust, they pass directly to beneficiaries, bypassing probate court altogether. This not only saves time and money but also ensures privacy.
Nevertheless, it’s important to remember that a Revocable Living Trust becomes irrevocable upon the grantor’s death, meaning its terms cannot be changed thereafter.
Navigating Potential Pitfalls
Steve, have you encountered any common issues or challenges when helping clients establish Revocable Living Trusts?
I recall one instance where a client hadn’t fully updated their trust after a major life event. Their children had grown and started families of their own, but the trust still listed them as beneficiaries without specifying shares for grandchildren. This oversight could have led to unintended consequences and family discord.
Thankfully, we were able to amend the trust before it became irrevocable, ensuring that all beneficiaries were treated fairly and according to the client’s wishes. It served as a powerful reminder of the importance of regular reviews and updates to estate planning documents.
The Power of Planning
- According to the American Bar Association, over 60% of adults do not have a will or trust in place.
The lack of proper planning can leave loved ones facing significant challenges and expenses. A well-crafted Revocable Living Trust can help alleviate these burdens and provide for your family’s future.
Taking the Next Step
Steve, what advice would you give to viewers who are considering setting up a trust?
I encourage everyone to consult with an experienced estate planning attorney. We can help you determine which type of trust best suits your needs and guide you through the process of creating a legally sound document.
Testimonials
“Steve Bliss and his team were incredibly helpful in setting up my trust. They explained everything clearly and patiently answered all of my questions.” – Mary S.
“I was initially overwhelmed by the idea of estate planning, but Steve made it a straightforward and stress-free experience.” – John T.
Unlocking Your Future
Let us help you secure your legacy. Contact San Diego Probate Law today for a personalized consultation and discover the peace of mind that comes with comprehensive estate planning.
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: “Can I name a professional trustee?” Or any other related questions that you may have about Trusts or my trust law practice.
Important Facts About San Diego Probate Law
Get a Special Needs Trust at San Diego Probate Law
Get a Spendthrift Trust at San Diego Probate Law
Get a Tax By-Pass Trust at San Diego Probate Law
Get a Totten Trust at San Diego Probate Law
Get a Constructive Trust at San Diego Probate Law
Get a Charitable Trust at San Diego Probate Law
Get a Asset Protection Trust at San Diego Probate Law
Get a Irrevocable Trust at San Diego Probate Law
Get a Revocable Trusts at San Diego Probate Law
Get a Living Trust at San Diego Probate Law