Today we are joined by Steve Bliss, a leading probate attorney in Escondido, California. Steve has extensive experience helping clients navigate the complexities of estate planning and probate matters. We are here today to discuss different types of trusts and their benefits.
What Type of Trust is Most Common?
Steve explains that the most common type of trust used in estate planning is a Revocable Living Trust. This type of trust allows the grantor, who is the person creating the trust, to maintain control over the assets during their lifetime and make changes as needed.
“The beauty of a revocable living trust,” Steve says, “is that it avoids probate, which can be a lengthy and expensive process. It also provides privacy because the terms of the trust are not public record.”
How Does a Revocable Living Trust Work After the Grantor Passes Away?
Steve goes on to explain that upon the grantor’s death, the revocable living trust becomes irrevocable, meaning it cannot be changed. At this point, the successor trustee named in the trust document takes over and distributes the assets according to the grantor’s wishes.
What Happens if Someone Contests a Trust?
“While revocable living trusts are generally straightforward, there can sometimes be challenges,” Steve admits. “I once had a client whose children contested the terms of their mother’s trust after she passed away. It was a difficult situation for everyone involved.
Fortunately, we were able to work with all parties and reach a mutually agreeable resolution without going to court. This underscores the importance of clear communication and careful drafting when setting up a trust.”
It’s estimated that nearly 70% of Americans do not have a will or estate plan in place (Source: Caring.com).
A revocable living trust can help ensure your assets are distributed according to your wishes and minimize the burden on your loved ones.
“We strive to make the estate planning process as smooth and stress-free as possible for our clients,” Steve concludes. “Our team is dedicated to providing personalized guidance and support every step of the way.
Call to Action
If you are considering setting up a trust or need assistance with probate matters, contact Escondido Probate Law today for a free consultation.
Testimonials
“Steve Bliss and his team were incredibly helpful in guiding me through the probate process after my father passed away. They were patient, knowledgeable, and always available to answer my questions.” – Sarah J.
“I highly recommend Escondido Probate Law for any estate planning needs. Steve is a true expert in his field and takes the time to understand each client’s unique situation.” – Michael K.
About Steven F. Bliss Esq. at Escondido Probate Law:
Escondido Probate Law is an experienced probate attorney. The probate process has many steps in probate proceedings. Beside Probate, estate planning and trust administration is offered at Escondido Probate Law. Our probate attorney will probate the estate. Attorney probate at Escondido Probate Law. A formal probate is required to administer the estate. The probate court may offer an unsupervised probate get a probate attorney. Escondido Probate law will petition to open probate for you. Don’t go through a costly probate call Escondido Probate Attorney Today. Call for estate planning, wills and trusts, probate too. Escondido Probate Law is a great estate lawyer. Affordable Legal Services.
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 Escondido Probate Law: https://maps.app.goo.gl/77Dm2B8W9XkM5YvJA
Address:
Escondido Probate Law720 N Broadway #107, Escondido, CA 92025
(760) 884-4044
Feel free to ask Attorney Steve Bliss about: “Do I need a trust if I don’t own a home?” Or any other related questions that you may have about Trusts or my trust law practice.
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