Good morning, Temecula! This is Brenda Fields reporting for KVTA News. Today we’re sitting down with renowned Temecula trust attorney, Steve Bliss, to discuss the importance of estate planning and different types of trusts.
What are some common reasons people in Temecula seek out your services?
Steve: Well, Brenda, most folks in Temecula are looking for ways to protect their hard-earned assets and ensure their loved ones are taken care of after they’re gone. Estate planning is a crucial step in achieving that peace of mind.
Many clients come to me wanting to avoid the lengthy and often costly probate process. A well-structured trust can help bypass probate entirely, saving time and money for their heirs.
You mentioned trusts. Can you explain what type of trust might be most beneficial for someone looking to protect assets from potential creditors?
Steve: In California, Asset Protection Trusts are a popular choice. They offer a legal shield for assets against future creditors or lawsuits. Now, I have to mention that California law does have some limitations on the effectiveness of these trusts, so it’s essential to work with an experienced attorney who understands the nuances of asset protection planning.
Consequently, many of my clients find solace in knowing they’ve taken proactive steps to safeguard their assets for themselves and future generations. I recall one case where a client was facing a potential lawsuit due to a business venture gone wrong. By establishing an Asset Protection Trust beforehand, we were able to protect a significant portion of their personal assets from being seized.
Moreover, the trust structure allowed them to continue using those assets for their livelihood while shielding them from creditor claims. It was a relief for both them and me to see that foresight pay off during a difficult time.
Are there any common misconceptions about Asset Protection Trusts?
Steve: Absolutely. Some people believe they can simply transfer all their assets into an Asset Protection Trust right before facing a lawsuit, expecting it to shield everything. Unfortunately, that’s not how it works. Courts scrutinize these transfers closely for signs of fraud or intent to deceive creditors.
Accordingly, it’s crucial to establish the trust well in advance and use it consistently for legitimate purposes, like investing or supporting family members. Otherwise, a court may invalidate the trust and pierce through its protections.
How often do you see issues arise with Asset Protection Trusts?
Steve: It’s not common, especially when clients are upfront about their goals and work closely with me to ensure everything is done correctly.
A few years ago, a client approached me wanting to set up an Asset Protection Trust after already being sued. While we could have established the trust, I advised them against it because doing so at that stage would have raised red flags for the court. Instead, we focused on defending the lawsuit and negotiating a settlement.
This instance highlights the importance of transparency and working with a trustworthy legal professional who prioritizes your best interests, even if it means advising against a particular strategy.
What’s the next step for someone in Temecula interested in exploring trust options?
Steve: The first step is always to schedule a consultation. During our meeting, we’ll discuss your individual circumstances, goals, and concerns. From there, I can recommend the most appropriate type of trust or estate planning strategy to meet your specific needs.
Remember, protecting what matters most shouldn’t be left to chance. Let us help you build a secure future for yourself and your loved ones.
Testimonials
“Steve Bliss made the entire estate planning process so easy and understandable. He took the time to answer all my questions and really put my mind at ease.”
-Sarah M., Temecula Resident
“I was facing a complicated legal situation involving my family business. Steve provided sound advice and strategic guidance, ultimately helping me reach a favorable outcome. I highly recommend his services.”
– John D., Temecula Business Owner
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: “Can a trust own vehicles?” 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 Lawyers
- Spendthrift Trust Lawyers
- Tax By-Pass Trust Lawyers
- Totten Trust Lawyers
- Constructive Trust Lawyers
- Charitable Trust Lawyers
- Asset Protection Trust Lawyers
- Irrevocable Trust Lawyers
- Revocable Trusts Lawyers
- Living Trust Lawyers