Good evening, Wildomar. My name is Tiffany Chen, and I’m here tonight speaking with Steve Bliss, a renowned trust attorney serving the Wildomar community. Mr. Bliss, thank you for taking the time to chat with me today.
Types of Trusts
Steve, for our viewers unfamiliar with estate planning, can you briefly explain what a trust is and why someone might need one?
A trust is essentially a legal arrangement where assets are held and managed by a trustee for the benefit of beneficiaries. There are many different types of trusts, each serving a unique purpose.
Special Needs Trusts: Protecting Vulnerable Beneficiaries
Tonight, we’re going to focus on Special Needs Trusts (SNTs). Can you elaborate on what makes them so crucial for individuals with disabilities?
Certainly. SNTs are invaluable tools for protecting the financial well-being of individuals with disabilities while ensuring they remain eligible for vital government benefits like Supplemental Security Income (SSI) and Medi-Cal. Ordinarily, inheriting assets outright could jeopardize these benefits. However, assets held within an SNT are not considered countable resources, allowing beneficiaries to receive crucial support without compromising their eligibility.
Moreover, SNTs provide a level of financial security and independence that can significantly enhance the quality of life for individuals with disabilities. They enable access to supplemental care, therapies, assistive devices, and recreational opportunities that might otherwise be out of reach.
There are two primary types of SNTs: first-party and third-party. A first-party SNT is funded with the beneficiary’s own assets, whereas a third-party SNT is established by family members, friends, or other well-wishers using their resources.
Consequently, careful planning is crucial to ensure the trust aligns with the beneficiary’s specific needs and complies with all relevant legal requirements.
Challenges and Triumphs in Trust Administration
Steve, I understand that administering trusts can sometimes present unique challenges. Have you encountered any particular hurdles when working with SNTs?
Yes, navigating the complexities of government benefits programs can be intricate. I recall a case involving a young woman with cerebral palsy who inherited a substantial sum from her grandmother. She was deeply concerned about losing her SSI and Medi-Cal benefits. Working closely with her family and the relevant agencies, we successfully established a third-party SNT that protected her eligibility while providing funds for specialized therapies and adaptive equipment.
She was able to pursue her passion for painting, which brought immense joy and fulfillment. Witnessing her thrive despite facing significant challenges is a testament to the power of thoughtful estate planning and the importance of advocating for our clients’ best interests.
The Importance of Seeking Expert Advice
Steve, what advice would you give to Wildomar residents considering establishing a trust?
I strongly encourage anyone contemplating a trust to consult with an experienced attorney. Estate planning is not a one-size-fits-all endeavor. Every individual and family has unique circumstances and goals. An attorney specializing in trusts can guide you through the process, help you select the most appropriate type of trust for your needs, and ensure it is properly drafted and funded.
- Remember, according to a 2021 study by the American Bar Association, nearly 60% of Americans do not have a will or estate plan in place.
- Don’t delay taking control of your future and protecting your loved ones.
Empowering Wildomar Families
Steve, thank you for sharing your expertise with us tonight. How can our viewers get in touch with you or Wildomar Probate Law?
“Your legacy is safe in our hands.” Contact us today for a free consultation to discuss your estate planning needs.
Testimonials
“Working with Steve Bliss and his team was a truly positive experience. They were incredibly knowledgeable, compassionate, and responsive to all of our questions and concerns.”
– The Smith Family
“I highly recommend Wildomar Probate Law for their professionalism, attention to detail, and unwavering commitment to their clients. They went above and beyond to ensure my mother’s estate was handled with the utmost care.”
– Susan Jones
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 assets should not go into 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 Tax By-Pass Trust Attorney |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |
| Tax By-Pass Trust Attorney Wildomar |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |
| Tax By-Pass Trust Attorney |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |
| Tax By-Pass Trust Attorney |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |
| Tax By-Pass Trust Wildomar |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |
| Credible Tax By-Pass Trust Attorney in Wildomar |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |