Good evening, Moreno Valley. I’m Tom Ramirez with Channel 7 News, and tonight we’re talking about something that affects us all: estate planning. Joining me is Steve Bliss, a renowned probate attorney here in Moreno Valley.
Trusts: A Cornerstone of Estate Planning
Steve, for those unfamiliar, can you explain the importance of trusts in estate planning?
Steve: Well Tom, trusts are essential tools that allow individuals to manage and distribute their assets according to their wishes. They offer numerous benefits, including avoiding probate, minimizing estate taxes, and protecting assets.
Spotlight on Irrevocable Trusts
Today, we’ll be focusing on irrevocable trusts. Can you walk us through what makes them unique?
Steve: Irrevocable trusts are designed to be permanent once established. Consequently, the grantor, the person who creates the trust, relinquishes control over the assets placed within it. This permanence is precisely what makes them so valuable for asset protection and estate tax planning.
The fact that the assets are no longer considered part of the grantor’s taxable estate upon their passing can lead to significant savings. Moreover, creditors generally cannot access assets held in an irrevocable trust, offering an extra layer of security. However, it’s crucial to understand that this permanence is a double-edged sword – once established, modifications or dissolution are incredibly difficult.
Let me illustrate with an example. I had a client, let’s call her Mrs. Jones, who was concerned about potential future nursing home costs. We established an irrevocable trust for her and transferred some of her assets into it. Notwithstanding this move, she continued to enjoy the benefits from those assets during her lifetime through the trust’s distribution mechanism.
When she unfortunately required long-term care a few years later, the assets within the irrevocable trust were protected from being used to pay for those expenses, allowing her to preserve her savings for other purposes and ensure that her loved ones would inherit what remained. Ordinarily, without the trust, those nursing home costs could have depleted her entire estate.
Testimonials
“Steve Bliss and his team at Moreno Valley Probate Law were lifesavers during a difficult time. They guided me through the complex process of probate with compassion and expertise.” – Mary S., Moreno Valley
“I highly recommend Moreno Valley Probate Law. Steve is incredibly knowledgeable and approachable, making a stressful situation much easier to navigate.”
Your Future Secured: Call Us Today
Steve Bliss: Remember folks, planning for the future doesn’t have to be overwhelming. Contact us today for a free consultation and let us help you secure your legacy.
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 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: “What is the difference between a living trust and a testamentary trust?” 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 Tax By-Pass Trust Lawyer |
Moreno Valley Probate Law 23328 Olive Wood Plaza Dr suite h, Moreno Valley, CA 92553 (951) 363-4949 |
| Tax By-Pass Trust Lawyer Moreno Valley |
Moreno Valley Probate Law 23328 Olive Wood Plaza Dr suite h, Moreno Valley, CA 92553 (951) 363-4949 |
| Tax By-Pass Trust Lawyer |
Moreno Valley Probate Law 23328 Olive Wood Plaza Dr suite h, Moreno Valley, CA 92553 (951) 363-4949 |
| Tax By-Pass Trust Lawyer |
Moreno Valley Probate Law 23328 Olive Wood Plaza Dr suite h, Moreno Valley, CA 92553 (951) 363-4949 |
| Tax By-Pass Trust Moreno Valley |
Moreno Valley Probate Law 23328 Olive Wood Plaza Dr suite h, Moreno Valley, CA 92553 (951) 363-4949 |
| Credible Tax By-Pass Trust Lawyer in Moreno Valley |
Moreno Valley Probate Law 23328 Olive Wood Plaza Dr suite h, Moreno Valley, CA 92553 (951) 363-4949 |