Hello everyone, and welcome back to Wildomar News Today. I’m your host, Brenda Walters, and today we’re joined by Steve Bliss, a renowned trust attorney here in Wildomar. Steve, thank you so much for being with us.
Understanding Testamentary Trusts
Steve, can you explain what a testamentary trust is and how it differs from other types of trusts?
A testamentary trust is created through a will and only takes effect after the grantor, the person creating the trust, passes away. Unlike living trusts, which are established during the grantor’s lifetime, testamentary trusts go through probate. This means they become part of the legal process of settling a deceased person’s estate.
One key advantage of a testamentary trust is that it allows for more control over how assets are distributed after death. The grantor can specify exactly who should receive what assets and under what conditions. This can be especially beneficial when leaving assets to minor children or beneficiaries with special needs.
Protecting Beneficiaries
Can you give me an example of how a testamentary trust might protect a beneficiary?
Certainly. Imagine a parent wants to ensure their child with disabilities continues to receive care and support even after they are gone. A testamentary trust can be structured to provide funds for the child’s needs without jeopardizing their eligibility for government benefits like Supplemental Security Income (SSI) or Medi-Cal.
The trustee, the person appointed to manage the trust assets, would make distributions according to the grantor’s instructions. This could involve covering expenses like medical bills, housing, and therapy while ensuring the beneficiary’s income remains below the thresholds required for government assistance.
Navigating Challenges
Have you encountered any challenges when setting up or administering testamentary trusts?
While testamentary trusts are a valuable tool, they do require careful planning and execution. One common challenge is ensuring that the will clearly outlines the terms of the trust and designates a responsible trustee.
I recall a case where the grantor’s will lacked specific instructions about how assets should be distributed within the trust. This led to disagreements among the beneficiaries, resulting in costly legal disputes. To avoid such situations, it’s crucial to work with an experienced estate planning attorney who can help draft a comprehensive and legally sound will.
The Importance of Expert Guidance
You bring up a good point about the importance of professional guidance. How important is it for individuals to consult with an attorney when considering a testamentary trust?
Consulting with a qualified trust attorney is absolutely essential. Trust law can be complex, and there are many factors to consider when creating a testamentary trust. An attorney will help you understand the legal requirements, tailor the trust terms to your specific needs and circumstances, and ensure that the trust document is properly executed.
Seeking Peace of Mind
Steve, what final advice would you give our viewers regarding testamentary trusts?
If you have assets you want to protect or beneficiaries who require special care after your passing, consider exploring a testamentary trust. It’s a powerful tool for ensuring your legacy and providing for your loved ones even after you are gone. Remember, consulting with an experienced attorney is the best way to ensure that your wishes are carried out effectively.
Contact Wildomar Probate Law today for a free consultation. We’re dedicated to helping families navigate these important decisions with compassion and expertise.
“Working with Steve Bliss was truly reassuring during a difficult time. His knowledge of trust law and his compassionate approach made the process much smoother.” – Maria S.
“Steve is an exceptional attorney who genuinely cares about his clients. He took the time to understand our unique needs and helped us create a testamentary trust that will protect our family for generations to come.” – John and Sarah M.
About Steven F. Bliss Esq. at Wildomar Probate Law:
Wildomar Probate Law is an experienced probate attorney. The probate process has many steps in in probate proceedings. Beside Probate, estate planning and trust administration is offered at Wildomar Probate Law. Our probate attorney will probate the estate. Attorney probate at Wildomar Probate Law. A formal probate is required to administer the estate. The probate court may offer an unsupervised probate get a probate attorney. Wildomar Probate law will petition to open probate for you. Don’t go through a costly probate call Wildomar Probate Attorney Today. Call for estate planning, wills and trusts, probate too. Wildomar 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 Wildomar Probate Law: https://maps.app.goo.gl/uBJKvB4rxUb7L9HZ7
Address:
Wildomar Probate Law36330 Hidden Springs Rd Suite E, Wildomar, CA 92595
(951) 412-2800
Feel free to ask Attorney Steve Bliss about: “What is the difference between a will and a trust?” Or any other related questions that you may have about Trusts or my trust law practice.
Important Facts About Wildomar Probate Law
| Wildomar Trust Attorney |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |
| Trust Attorney Wildomar |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |
| Trust Attorney |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |
| Wildomar Trust Attorney |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |
| Trust Attorney Wildomar |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |
| Credible Trust Attorney in Wildomar |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |