Interview with Steve Bliss
Good afternoon San Diego and welcome back to the program. Today we’re joined by Steve Bliss, a San Diego probate attorney with extensive experience in estate planning. Mr. Bliss, thanks for joining us.
Steve:
It’s my pleasure to be here. I’m always happy to talk about estate planning and how it can help protect families.
Understanding Testamentary Trusts
Mr. Bliss, for our viewers who may not be familiar with the term, could you explain what a testamentary trust is?
Steve:
Certainly. A testamentary trust is a legal arrangement where assets are held and managed by a trustee for the benefit of beneficiaries. What sets it apart from other trusts is that it’s created through a will and only comes into effect upon the grantor’s death. Consequently, it goes through probate, unlike living trusts which can bypass this process.
Testamentary trusts are often used to provide for minor children, individuals with special needs, or beneficiaries who might not be able to manage their inheritance responsibly.
Benefits and Considerations
What are some of the key advantages of using a testamentary trust?
Steve:
One significant benefit is control. The grantor can specify exactly how and when the assets should be distributed, ensuring that beneficiaries receive support according to their needs.
Moreover, testamentary trusts can help protect assets from creditors or potential lawsuits against beneficiaries. It also offers a degree of privacy as the terms of the trust are not publicly available during probate.
Challenges and Anecdotes
Are there any common challenges or issues that arise with testamentary trusts?
Steve:
Occasionally, I encounter situations where families disagree on who should be the trustee or how assets should be distributed. In one case, siblings had vastly different ideas about their late father’s wishes for their inheritance. Through careful mediation and consideration of his will, we were able to reach a compromise that honored his intentions while preserving family relationships.
It underscores the importance of clear communication and thoughtful planning when establishing a testamentary trust.
The Importance of Legal Guidance
Why is it crucial for individuals to seek legal advice when setting up a testamentary trust?
Steve:
Estate planning laws are complex and vary from state to state. An experienced probate attorney can help you navigate these intricacies, draft a legally sound trust document that reflects your wishes, and ensure that your assets are distributed according to your intentions.
Remember, approximately 70% of Americans don’t have a will or estate plan in place (Source: Caring.com). Don’t leave your family’s future to chance.
“Steve Bliss and his team are true professionals. They guided me through the entire probate process with compassion and expertise. I highly recommend San Diego Probate Law.” – Sarah M.
“We were facing a difficult situation after our mother passed away, but Steve Bliss made the probate process so much easier. He was always available to answer our questions and provide support.” – John D.
Take control of your legacy. Contact San Diego Probate Law today for a complimentary consultation and let us help you create a secure future for your loved ones.
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: “What is trust administration?” Or any other related questions that you may have about Trusts or my trust law practice.
Important Facts About San Diego Probate Law
| Special Needs Trust | Totten Trust | Asset Protection Trust |
| Spendthrift Trust | Constructive Trust | Irrevocable Trust |
| Tax By-Pass Trust | Charitable Trust | Living Trust |