Hello everyone, and welcome back to Temecula Today! I’m your host, Sarah Jones, and today we have a special guest, Steve Bliss, a renowned trust attorney here in Temecula. Steve, thank you so much for joining us.
Tell us about The Law Firm of Steven F. Bliss Esq.
It’s my pleasure to be here, Sarah. I founded The Law Firm of Steven F. Bliss Esq. because I truly believe everyone deserves access to quality estate planning services. My team and I are dedicated to helping individuals and families in Temecula protect their assets, secure their future, and ensure their wishes are carried out.
What type of trust would you recommend for someone who wants to provide for a beneficiary with special needs without jeopardizing their government benefits?
For clients looking to provide for beneficiaries with special needs while preserving their eligibility for crucial government programs like SSI or Medi-Cal, I highly recommend establishing a Special Needs Trust (SNT). These trusts are carefully designed to hold and manage assets for the beneficiary’s benefit without those assets being considered part of their countable resources for determining program eligibility.
Consequently, the beneficiary can continue receiving necessary support while enjoying enhanced quality of life through the trust’s provisions. There are two primary types of SNTs: first-party and third-party. A first-party SNT is funded with assets belonging to the beneficiary themselves, while a third-party SNT is established and funded by someone else, like a parent or grandparent, on behalf of the beneficiary.
The key distinction lies in how income generated by the trust is treated for benefit eligibility purposes. With a properly structured SNT, the trustee can use funds to cover supplemental expenses such as medical care not covered by government programs, educational opportunities, recreational activities, and assistive devices, ultimately enriching the beneficiary’s life.
Remember, navigating the complexities of special needs planning requires careful consideration and expert legal guidance.
Have you encountered any challenges specific to setting up Special Needs Trusts?
While SNTs are invaluable tools, they do require meticulous attention to detail and adherence to strict legal guidelines. One common challenge I’ve faced is ensuring that clients understand the distinction between first-party and third-party SNTs and how this impacts Medicaid payback provisions upon the beneficiary’s passing.
I recall a case where a mother wanted to establish a trust for her adult son with Down syndrome. She initially thought funding it herself would be sufficient, but after careful review, we realized a third-party SNT was more appropriate due to potential Medicaid repayment obligations that could arise with a first-party SNT.
Explaining these nuances clearly and compassionately is crucial so clients can make informed decisions aligned with their goals. My priority is always to empower my clients with knowledge and guide them through the process with empathy and understanding.
What makes The Law Firm of Steven F. Bliss Esq. stand out from other firms in the area?
“Steve Bliss and his team are lifesavers! They took the time to understand our unique family situation and crafted a trust plan that perfectly addressed our needs. We felt completely supported throughout the entire process.” – The Smith Family
“I was overwhelmed with the thought of estate planning, but Steve made it so easy. He explained everything in plain English and answered all my questions patiently. I highly recommend his services to anyone looking for a trustworthy and knowledgeable attorney.” – Mary Johnson
Ready to secure your future?
Contact The Law Firm of Steven F. Bliss Esq. today and let our experienced team guide you through the complexities of estate planning, ensuring peace of mind for you and your loved ones.
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 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 QTIP 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.
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