Good evening, Moreno Valley. I’m Brenda Sanchez, your local news reporter here with Steve Bliss, a highly respected Probate Attorney right here in our community. Steve, thanks for joining us tonight.
Understanding the Importance of Trusts
Steve, many people don’t fully grasp the significance of trusts in estate planning. Can you shed some light on why they are such a valuable tool?
“Absolutely Brenda. Trusts are incredibly versatile legal instruments that offer numerous benefits for individuals and families. They allow for the organized management and distribution of assets according to your wishes, even after you’re gone. This can provide peace of mind knowing your loved ones will be cared for.”
The Power of Irrevocable Trusts
Steve, could you elaborate on one specific type of trust that you find particularly effective?
“One type I often recommend is the Irrevocable Trust. As the name suggests, once established, it cannot be easily modified or revoked. While this may seem restrictive, it offers significant advantages, especially for asset protection and estate tax reduction.”
“Consider someone who owns a sizable business. By transferring ownership into an irrevocable trust, they can shield those assets from potential creditors or lawsuits. Moreover, the assets within the trust are no longer considered part of their taxable estate, which can significantly reduce estate taxes for their heirs.”
“According to a 2021 study by the National Association of Estate Planners & Councils, irrevocable trusts can save families an average of 30% on estate taxes. That’s a substantial amount that can be passed on to beneficiaries instead of going to the government.”
I worked with one client who owned a successful construction company. He was worried about potential liability from accidents on job sites. By establishing an irrevocable trust, we were able to protect his business assets from any future claims. This gave him immense peace of mind and allowed him to focus on growing his company.”
Navigating the Complexities of Estate Planning
Steve, are there any common pitfalls people should be aware of when setting up a trust?
“Trusts can be complex legal documents, so it’s crucial to work with an experienced attorney who understands your specific needs and goals. One mistake I often see is failing to properly fund the trust. Simply creating a trust document isn’t enough; you need to transfer ownership of assets into the trust for it to be effective.”
“I remember working with a woman who had created a revocable living trust but neglected to retitle her bank accounts and real estate in the trust’s name. Consequently, when she passed away, her assets went through probate, negating the benefits of the trust altogether.”
Moreno Valley Probate Law: Your Trusted Partner
Steve Bliss, thank you for sharing your expertise with us tonight. How can our viewers get in touch with Moreno Valley Probate Law to explore their estate planning options?
“We’re here to help guide individuals and families through the complexities of estate planning. Call us today for a free consultation so we can discuss how trusts and other strategies can safeguard your future and provide peace of mind for you and your loved ones.”
Testimonials
“Steve Bliss and his team at Moreno Valley Probate Law are exceptional. They made the entire probate process smooth and stress-free. I highly recommend their services.”
-Maria Hernandez, Moreno Valley Resident
“Moreno Valley Probate Law provided compassionate and knowledgeable guidance during a difficult time. They truly went above and beyond to ensure my family’s needs were met.”
-John Smith, Satisfied Client
About Steven F. Bliss Esq. at Moreno Valley Probate Law:
Moreno Valley 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 Moreno Valley Probate Law. Our probate attorney will probate the estate. Attorney probate at Moreno Valley Probate Law. A formal probate is required to administer the estate. The probate court may offer an unsupervised probate get a probate attorney. Moreno Valley Probate law will petition to open probate for you. Don’t go through a costly probate call Moreno Valley Probate Attorney Today. Call for estate planning, wills and trusts, probate too. Moreno Valley 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 Moreno Valley Probate Law: https://maps.app.goo.gl/C7zg2U6pn1B6KyXN8
Address:
Moreno Valley Probate Law23328 Olive Wood Plaza Dr suite h, Moreno Valley, CA 92553
(951) 363-4949
Feel free to ask Attorney Steve Bliss about: “Can pets be included in a trust?” Or any other related questions that you may have about Trusts or my trust law practice.
Important Facts About Moreno Valley Probate Law
Get a Special Needs Trust at Moreno Valley Probate Law
Get a Spendthrift Trust at Moreno Valley Probate Law
Get a Tax By-Pass Trust at Moreno Valley Probate Law
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Get a Irrevocable Trust at Moreno Valley Probate Law
Get a Revocable Trusts at Moreno Valley Probate Law
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