Reporter Sarah Jones
Good evening, Moreno Valley. I’m Sarah Jones reporting live tonight from the offices of Moreno Valley Probate Law. Joining me is esteemed probate attorney Steve Bliss to discuss the complexities of estate planning and how you can protect your loved ones.
Steve Bliss
Thank you for having me, Sarah. It’s important that people understand the significance of proper estate planning.
Choosing the Right Trust: Testamentary Trusts
So Steve, let’s dive into a specific type of trust: testamentary trusts. Can you explain what they are and how they differ from other types?
A testamentary trust is created through your will and only takes effect after your passing. Consequently, unlike living trusts which avoid probate, testamentary trusts go through the probate process.
They are particularly useful when you have minor children or beneficiaries who may need financial assistance but lack the maturity to manage it responsibly. Moreover, a testamentary trust can specify how and when distributions should be made, ensuring your loved ones are cared for according to your wishes.
For instance, you could stipulate that funds are released for educational expenses or a down payment on a home at a specific age. The trustee, whom you appoint, will manage the assets and make distributions according to your instructions.
Ordinarily, testamentary trusts are created alongside a will, as they function as an integral part of your overall estate plan.
Challenges with Testamentary Trusts
Are there any potential challenges or issues that might arise with testamentary trusts?
While testamentary trusts offer valuable protection and control, they do have some limitations. Because they are subject to probate, the process can be time-consuming and costly. Additionally, since the trust is established after your death, you cannot modify it during your lifetime.
I remember a case where a client had created a testamentary trust for their child but later regretted the specific terms they had outlined. Unfortunately, because the trust was activated upon their passing, there was no way to amend it. This highlights the importance of carefully considering all aspects and seeking expert legal advice when establishing any type of trust.
The Power of Planning
Steve, what advice would you give to our viewers who are just starting to think about estate planning?
It’s never too early to start planning for the future. According to a recent AARP survey, over 60% of Americans don’t have a will or trust in place. That means their assets could be distributed according to state law, which may not align with their wishes.
Taking proactive steps now can save your loved ones from unnecessary stress and legal complications down the road.
Moreno Valley Probate Law: Your Trusted Partner
Thank you so much for sharing your expertise with us, Steve. How can our viewers get in touch with Moreno Valley Probate Law?
We’re here to guide you through every step of the estate planning process. Our team is dedicated to providing personalized solutions and ensuring your peace of mind. Contact us today for a free consultation – let us help protect your legacy and secure your family’s future.
Testimonials
“Steve Bliss and his team at Moreno Valley Probate Law were incredibly helpful and compassionate during a difficult time. They made the process so much easier and I knew my loved ones were in good hands.” – Maria G.
“I was overwhelmed by all the legal jargon, but Steve took the time to explain everything clearly and thoroughly. He’s a true professional who genuinely cares about his clients.” – John S.
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: “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 Moreno Valley Probate Law
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