Choosing the Right Trust for Your Needs
Good morning, Steve, and thank you for joining us today. Many people are unfamiliar with trusts and how they can benefit them. Can you explain why someone might choose to create a trust as part of their estate plan?
Steve: Absolutely. Trusts are powerful tools for protecting assets, minimizing taxes, and ensuring your wishes are carried out after you’re gone. There are many different types of trusts, each with its own purpose. Choosing the right one depends on individual circumstances and goals.
Understanding Special Needs Trusts
Today we’ll be focusing on Special Needs Trusts (SNTs). Can you tell us a bit about these and why they’re so important?
Steve: SNTs are invaluable for individuals with disabilities. They allow beneficiaries to receive financial support without jeopardizing their eligibility for government benefits like Supplemental Security Income (SSI) or Medi-Cal. Ordinarily, receiving an inheritance directly would disqualify someone from these crucial programs.
Imagine a young adult with autism who receives monthly SSI payments. An SNT can be funded by family members to provide for supplemental care, housing, or recreational activities without affecting their SSI benefits. This allows the individual to maintain a higher quality of life while still receiving necessary government support.
Navigating the Challenges
Steve: However, setting up an SNT requires careful planning and adherence to strict legal guidelines. One common challenge is ensuring the trust assets are used solely for the beneficiary’s supplemental needs. Trustees have a fiduciary duty to act in the best interest of the beneficiary and avoid using funds for ineligible expenses.
I remember one case where a family wanted to purchase a car for their son with cerebral palsy using SNT funds. While it seemed like a reasonable request, I had to explain that vehicles are generally not considered supplemental needs under SSI rules. Consequently, we explored alternative options, such as funding transportation services, which ultimately aligned with the trust’s purpose.
The Benefits Speak for Themselves
“Steve Bliss and his team at Escondido Probate Law were incredibly supportive throughout the entire process of setting up a Special Needs Trust for my daughter. They patiently explained every detail and made sure all our questions were answered.” – Mary S., Escondido
“We are so grateful to Steve for his expertise in navigating the complexities of estate planning. He helped us create an SNT that will protect our son’s future and ensure he continues to receive the care he needs.” – John & Susan P., San Marcos.
Ready to Take Control of Your Future?
Contact Escondido Probate Law today for a confidential consultation and discover how we can help you create a tailored estate plan that meets your unique needs.
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: “Can a trust own vehicles?” Or any other related questions that you may have about Trusts or my trust law practice.
Important Facts About Escondido Probate Law
| Escondido Estate Lawyers |
Escondido Probate Law 3914 Murphy Canyon Rd Suite A202, Escondido, CA 92123 (760) 884-4044 |
| Estate Lawyers Escondido |
Escondido Probate Law 3914 Murphy Canyon Rd Suite A202, Escondido, CA 92123 (760) 884-4044 |
| Estate Lawyers |
Escondido Probate Law 3914 Murphy Canyon Rd Suite A202, Escondido, CA 92123 (760) 884-4044 |
| Escondido Estate Lawyers |
Escondido Probate Law 3914 Murphy Canyon Rd Suite A202, Escondido, CA 92123 (760) 884-4044 |
| Estate Lawyers Escondido |
Escondido Probate Law 3914 Murphy Canyon Rd Suite A202, Escondido, CA 92123 (760) 884-4044 |
| Credible Estate Lawyers in Escondido |
Escondido Probate Law 3914 Murphy Canyon Rd Suite A202, Escondido, CA 92123 (760) 884-4044 |