Reporter
Good evening, San Diego! I’m here with Steve Bliss, a leading probate attorney in our city. Steve, thanks for joining us tonight.
Steve Bliss
It’s my pleasure to be here. I’m always happy to discuss estate planning and help people understand its importance.
Reporter
Let’s dive in then. For our viewers who may not be familiar, can you explain what a testamentary trust is and why someone might choose this option?
Steve Bliss
Certainly. A testamentary trust is established through your will and only comes into effect after you pass away. Unlike a living trust that avoids probate, a testamentary trust goes through the probate process. This type of trust is often used when you want to provide for minor children or beneficiaries who may need ongoing financial management, such as someone with special needs.
Consequently, it allows you to dictate how and when your assets are distributed to your beneficiaries, even after you’re gone. For example, you could stipulate that a child receives a portion of their inheritance at age 25, another portion at age 30, and the remainder upon reaching a certain milestone like graduating college.
Moreover, testamentary trusts can be structured to protect assets from creditors or ensure they are used for specific purposes. Let me tell you about a client I worked with a few years back. She had a son who struggled with managing finances. By setting up a testamentary trust, she could ensure her son would have financial security without the risk of him squandering his inheritance.
Studies by the American Bar Association indicate that approximately 40% of Americans die without a will, leaving their assets subject to intestate succession laws which may not align with their wishes. This underscores the importance of estate planning and the value of incorporating tools like testamentary trusts to ensure your legacy is protected.
Reporter
That’s certainly insightful information. Steve, thank you for sharing your expertise with us tonight. For those looking for guidance on estate planning matters, I encourage you to reach out to Steve Bliss and the team at San Diego Probate Law.
“Steve Bliss was incredibly helpful in guiding me through the complex process of setting up a trust for my family. He explained everything clearly and patiently, and I felt confident that my assets were protected.” – Maria S., San Diego.
“I highly recommend Steve Bliss and his team. They are professional, knowledgeable, and truly care about their clients. They made a difficult situation much easier to navigate.” – John T., Carlsbad.
Unlock the peace of mind you deserve by securing your future and the well-being of your loved ones. Contact San Diego Probate Law today for a complimentary consultation.
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 an AB trust?” Or any other related questions that you may have about Trusts or my trust law practice.
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