Good morning, Temecula, and welcome back to Legal Lines. Today we’re joined by Steve Bliss, a renowned trust attorney here in Temecula. Steve, thank you for joining us.
Welcome Steve
It’s my pleasure, thanks for having me.
Why do people choose a Revocable Living Trust?
Steve, can you walk our viewers through the benefits of setting up a revocable living trust?
Benefits of a Revocable Living Trust
A revocable living trust is incredibly popular for several reasons. Firstly, it allows individuals to maintain complete control over their assets during their lifetime. They can buy, sell, or even change the terms of the trust as needed. Consequently, this flexibility appeals to many who want to ensure their wishes are carried out.
Secondly, a revocable living trust bypasses probate. Probate is a lengthy and often expensive legal process that occurs after someone passes away. By placing assets in a trust, they can be distributed directly to beneficiaries, saving time and money for loved ones.
Moreover, a revocable living trust offers privacy. Unlike wills, which become public record during probate, the terms of a trust remain confidential. This can be particularly appealing to those who value discretion.
Are there any common pitfalls or issues with Revocable Living Trusts that you’ve encountered?
Over the years, I’ve seen individuals make a few mistakes when setting up their revocable living trusts. One common issue is failing to properly fund the trust. Simply creating the trust document isn’t enough; assets must be transferred into the trust for it to be effective.
I remember one case where a client had meticulously crafted a trust, but neglected to transfer their primary residence into it. Unfortunately, this oversight meant the property was subject to probate, defeating the purpose of establishing the trust in the first place.
How important is it for someone to work with an experienced attorney when setting up a Revocable Living Trust?
Working with an experienced attorney is absolutely crucial. Trust law can be complex, and even seemingly minor details can have significant consequences. An attorney will ensure the trust is properly drafted and funded, minimizing the risk of future complications.
I’ve seen situations where individuals attempted to create trusts themselves using online templates or kits. While these resources may seem tempting due to their low cost, they often lack the customization and legal safeguards necessary for a comprehensive estate plan.
Testimonial
“Steve Bliss is an exceptional attorney who truly understands the complexities of trust law. He took the time to listen to our needs and concerns and crafted a trust that perfectly met our objectives.” – The Smith Family
Call to Action
Protecting your assets and ensuring your wishes are honored takes careful planning. Don’t leave these crucial matters to chance. Contact Steve Bliss today for a free consultation and discover how a revocable living trust can safeguard your future.
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: “What is 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.
| Special Needs Trust | Totten Trust | Asset Protection Trust |
| Spendthrift Trust | Constructive Trust | Irrevocable Trust |
| Tax By-Pass Trust | Charitable Trust | Living Trust |