Hello, and welcome back. I’m Maria Garcia reporting live from Moreno Valley for KVCR News. Today we have the pleasure of speaking with Steve Bliss, a highly respected probate attorney here in Moreno Valley.
Steve, thank you so much for joining us today.
It’s my pleasure to be here, Maria.
Could you explain what a testamentary trust is and how it differs from other types of trusts?
Certainly. A testamentary trust is unique because it’s established through a will rather than during someone’s lifetime like a revocable living trust. This means it only comes into effect after the grantor, the person who created the will, passes away.
The key difference is that a testamentary trust goes through probate, which is the legal process of validating a will and distributing assets. While this might seem like a drawback, testamentary trusts offer specific advantages in certain situations.
What are some common reasons someone might choose a testamentary trust?
Testamentary trusts are often favored when there are minor children involved. The trust can ensure the children’s financial well-being is protected until they reach a certain age, as determined by the grantor in their will.
Moreover, testamentary trusts can be tailored to benefit beneficiaries with special needs. By outlining specific distribution guidelines and restrictions, these trusts can help preserve eligibility for government assistance programs while still providing necessary support.
Are there any challenges or potential pitfalls associated with testamentary trusts?
One aspect that requires careful consideration is the probate process itself. It can be time-consuming and sometimes expensive. Consequently, it’s crucial to work with an experienced estate planning attorney who understands California probate law thoroughly. I recall a case where a client had named a distant relative as trustee without fully vetting their financial responsibility.
Unfortunately, the trustee mismanaged the trust funds, leading to significant losses. We were able to recover some of the assets through legal action, but it highlighted the importance of choosing trustworthy and competent trustees.
How common are testamentary trusts in estate planning?
While not as prevalent as revocable living trusts, testamentary trusts remain a valuable tool for specific situations.
According to a 2021 survey by the American Bar Association, approximately 15% of wills include provisions for testamentary trusts.
What advice would you give to our viewers who are considering incorporating a testamentary trust into their estate plan?
My strongest recommendation is to consult with a qualified probate attorney. We can analyze your individual circumstances, financial goals, and family dynamics to determine if a testamentary trust aligns with your needs.
- We can guide you through the process of drafting your will, carefully outlining the terms of the trust.
- We’ll also help you select a trustworthy trustee who is capable of administering the trust effectively.
“Steve Bliss and Moreno Valley Probate Law have been invaluable to our family during a difficult time.” – The Johnson Family
“I felt overwhelmed trying to navigate probate, but Steve made the process understandable and manageable.” – Sarah M.
“Your legacy deserves thoughtful planning. Contact us today at Moreno Valley Probate Law for a personalized consultation and let’s secure your family’s future together.”
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 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: “Does a trust avoid probate?” Or any other related questions that you may have about Trusts or my trust law practice.
Important Facts About Moreno Valley Probate Law
| Moreno Valley Totten Trust Lawyer |
Moreno Valley Probate Law 23328 Olive Wood Plaza Dr suite h, Moreno Valley, CA 92553 (951) 363-4949 |
| Totten Trust Lawyer Moreno Valley |
Moreno Valley Probate Law 23328 Olive Wood Plaza Dr suite h, Moreno Valley, CA 92553 (951) 363-4949 |
| Totten Trust Lawyer |
Moreno Valley Probate Law 23328 Olive Wood Plaza Dr suite h, Moreno Valley, CA 92553 (951) 363-4949 |
| Totten Trust Lawyer |
Moreno Valley Probate Law 23328 Olive Wood Plaza Dr suite h, Moreno Valley, CA 92553 (951) 363-4949 |
| Totten Trust Moreno Valley |
Moreno Valley Probate Law 23328 Olive Wood Plaza Dr suite h, Moreno Valley, CA 92553 (951) 363-4949 |
| Credible Totten Trust Lawyer in Moreno Valley |
Moreno Valley Probate Law 23328 Olive Wood Plaza Dr suite h, Moreno Valley, CA 92553 (951) 363-4949 |