Interview with Local News Reporter
Good afternoon, and thank you for joining us today. I’m here with Steve Bliss, a renowned probate attorney in San Diego. Steve, thanks for taking the time to speak with me.
Steve:
It’s my pleasure. I’m always happy to discuss estate planning and the importance of protecting your loved ones.
Trusts: A Cornerstone of Estate Planning
Steve, could you shed some light on one of the most common types of trusts used in estate planning?
Steve Explains Testamentary Trusts
Certainly. Today I want to focus on testamentary trusts. These are unique because they come into existence only after your passing, as directed by your last will and testament. Consequently, unlike a living trust which avoids probate, a testamentary trust goes through the probate process.
Now, why would someone choose a testamentary trust? They’re particularly useful when you want to provide for beneficiaries who may not be ready to manage their inheritance directly. For example, think about parents wanting to ensure their minor children are cared for financially until they reach adulthood. Or perhaps you have a beneficiary with special needs who requires ongoing support.
A testamentary trust allows you to outline specific instructions for how the assets within the trust should be managed and distributed. You can appoint a trusted individual or institution as trustee to oversee these matters. The trustee has a fiduciary responsibility to act in the best interests of the beneficiaries, ensuring their needs are met according to your wishes.
It’s important to note that testamentary trusts are irrevocable once they become active after your passing. This means the terms cannot be easily changed, providing a level of certainty and protection for both the grantor and the beneficiaries.
Navigating Challenges
Have you encountered any common challenges or concerns when setting up testamentary trusts?
There have been instances where clients were unsure about selecting the right trustee. This is a crucial decision as the trustee wields significant authority over the trust assets. I always encourage my clients to carefully consider individuals who are trustworthy, financially responsible, and committed to upholding their wishes.
I recall one case where a client named a family member as trustee, but they later faced unforeseen health issues that made it difficult for them to fulfill their duties. In this situation, we had to petition the court to appoint an alternate trustee, which added complexity and delay. It highlighted the importance of having contingency plans in place.
Peace of Mind through Planning
Studies by the American Bar Association indicate that over 50% of adults do not have a will or trust in place. This lack of planning can lead to significant complications and hardship for families during an already emotionally challenging time.
My goal is to empower individuals to take control of their legacy and ensure their loved ones are protected. Testamentary trusts offer a valuable tool for achieving these goals.
Call to Action
Take the first step towards securing your family’s future. Contact San Diego Probate Law today and let our experienced team guide you through the complexities of estate planning, including testamentary trusts.
Testimonials
“Steve Bliss made a complex process incredibly straightforward. He patiently explained all my options and helped me create an estate plan that gave me complete peace of mind. I highly recommend San Diego Probate Law.”
-Mary S., San Diego, CA
“I was overwhelmed with the idea of setting up a trust, but Steve and his team put me at ease. They were professional, knowledgeable, and truly cared about my needs. My family and I are grateful for their exceptional service.”
-John T., La Jolla, CA
About Steven F. Bliss Esq. at San Diego Probate Law:
Secure Your Family’s Future with San Diego’s Trusted Trust Attorney. Minimize estate taxes with stress-free Probate. We craft wills, trusts, & customized plans to ensure your wishes are met and loved ones protected.
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 San Diego Probate Law:
Address:
San Diego Probate Law3914 Murphy Canyon Rd, San Diego, CA 92123
(858) 278-2800
Map Link: https://g.co/kgs/WzT6443
Feel free to ask Attorney Steve Bliss about: “Can I name a trust as a life insurance beneficiary?” Or any other related questions that you may have about Trusts or my trust law practice.
Important Facts About San Diego Probate Law
| San Diego Trust Lawyers |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Trust Lawyers San Diego |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Trust Lawyers |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| San Diego Trust Lawyers |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Trust Lawyers San Diego |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Credible Trust Lawyers in San Diego |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |