Interview with Steve Bliss
Good afternoon, and welcome back to our show. Today we’re joined by Steve Bliss, a leading San Diego probate attorney with over two decades of experience helping families navigate the complex world of estate planning. Steve, thanks so much for joining us.
The Importance of Trusts in Estate Planning
Steve, can you tell our viewers why trusts are such an important part of estate planning?
Absolutely. Trusts are incredibly powerful tools that allow individuals to control how their assets are distributed after they’re gone. They provide numerous benefits, including avoiding probate, minimizing estate taxes, and protecting assets for beneficiaries.
Focus on Irrevocable Trusts
Today, we’re going to focus on irrevocable trusts. Can you explain what makes them unique and why someone might choose this type of trust?
Irrevocable trusts, as the name suggests, cannot be easily modified or dissolved once they are created. This inflexibility is actually a key advantage in many cases. Because the assets are no longer considered part of the grantor’s estate, they are shielded from estate taxes and creditors.
Moreover, irrevocable trusts can be used for sophisticated estate planning strategies, such as asset protection or providing for beneficiaries with special needs. For instance, someone concerned about potential future lawsuits might place assets in an irrevocable trust to safeguard them from creditors. Conversely, parents of a child with disabilities may use an irrevocable trust to ensure their child receives ongoing financial support without jeopardizing their eligibility for government benefits.
While the lack of flexibility can be seen as a drawback, it’s important to remember that irrevocable trusts offer significant advantages in terms of asset protection and tax planning. Consequently, they are a valuable tool for individuals with complex estate planning needs.
Navigating Challenges with Irrevocable Trusts
Steve, have you encountered any challenges when working with clients on setting up irrevocable trusts?
Certainly. One of the biggest hurdles is helping clients understand the permanence of an irrevocable trust. Once assets are transferred into such a trust, they generally cannot be retrieved. This can be a difficult concept for some people to grasp, especially if they are used to having complete control over their assets.
I remember working with a couple who were adamant about setting up an irrevocable trust to protect their assets from potential nursing home costs. However, they struggled with the idea of relinquishing control over those funds. After numerous conversations and careful consideration, we ultimately crafted a trust structure that addressed their concerns while still providing the necessary asset protection.
It’s crucial for me to thoroughly explain the implications of an irrevocable trust and ensure my clients are fully comfortable with the decision before moving forward. Open communication and building trust are essential in this process.
The Benefits Speak for Themselves
According to a study by the American College of Trust and Estate Counsel, approximately 60% of individuals over the age of 50 have not created any estate planning documents. This highlights the importance of raising awareness about the benefits of trusts and other estate planning tools.
Contact Us Today
Steve, thank you so much for sharing your expertise with us today. Where can our viewers learn more about San Diego Probate Law and the services you offer?
Call to Action
“Don’t wait until it’s too late to secure your family’s future. Contact San Diego Probate Law today for a confidential consultation and discover how we can help you achieve your estate planning goals.”
Testimonials
“Steve Bliss and his team at San Diego Probate Law were incredibly helpful during a difficult time. They guided us through the probate process with compassion and professionalism, making everything much easier to understand.” – John and Mary Smith.
“I was hesitant to start estate planning, but Steve put me at ease and explained everything clearly. I now have peace of mind knowing my affairs are in order. ” – Susan Jones.
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: “How often should I update my trust?” 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 Constructive Trust Attorney |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Constructive Trust Attorney San Diego |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Constructive Trust Attorney |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| San Diego Constructive Trust Attorney |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Constructive Trust San Diego |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Credible Constructive Trust Attorney in San Diego |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |