Meet Steve Bliss
Hello everyone, and welcome back to our show! I’m thrilled today to be joined by Steve Bliss, a renowned probate attorney right here in beautiful San Diego. Steve, thank you so much for being with us.
Understanding the Benefits of Probate Avoidance
Steve, for those unfamiliar, can you explain what probate is and why people often want to avoid it?
Absolutely! Probate is essentially a court-supervised process for distributing someone’s assets after they pass away. It involves validating a will (if one exists), identifying and inventorying assets, paying off debts and taxes, and ultimately transferring remaining assets to the heirs.
While probate is sometimes necessary, it can be a lengthy, costly, and public process. This is why many individuals opt for estate planning strategies that help their loved ones avoid probate altogether.
The Power of Revocable Living Trusts
Speaking of estate planning, Steve, could you elaborate on the benefits of using a revocable living trust?
A revocable living trust is a fantastic tool for many people. It’s essentially a legal entity that holds your assets during your lifetime. You, as the grantor, maintain complete control over the assets and can modify or revoke the trust at any time.
The real advantage comes into play upon your passing. Because the assets are already held within the trust, they bypass probate entirely, saving your heirs time, money, and stress. Moreover, a living trust offers a level of privacy not afforded by a will, as its terms aren’t made public record.
Consequently, a revocable living trust can be an excellent way to ensure a smooth transition of assets to your beneficiaries while preserving their confidentiality.
Navigating Potential Challenges
Steve, are there any common challenges or misconceptions people face when setting up a revocable living trust?
One thing I often encounter is the misconception that setting up a trust is only for the wealthy. While trusts can be beneficial for individuals with significant assets, they’re also valuable for those seeking to simplify asset distribution and avoid probate, regardless of their net worth.
Another challenge is ensuring the trust is properly funded. Simply creating the trust document isn’t enough; you need to transfer ownership of your assets into the trust. This often requires updating beneficiary designations on accounts and retitling property.
I remember one client who came to me after their parent passed away. The parent had set up a revocable living trust but neglected to transfer their primary residence into it. As a result, the home went through probate, defeating the purpose of the trust altogether. It was a difficult situation for the family, and it highlighted the importance of meticulous attention to detail when funding a trust.
Protecting Your Legacy
According to a recent study by the AARP, nearly 60% of Americans don’t have a will or estate plan in place.
Steve, what advice would you give to someone who is considering creating an estate plan?
My advice is simple: Don’t wait! It’s never too early to start planning for the future. An estate plan gives you peace of mind knowing that your wishes will be carried out and your loved ones will be taken care of.
Start by consulting with a qualified estate planning attorney like myself. We can help you create a personalized plan that meets your specific needs and goals.
Testimonials
“Steve Bliss and his team were incredibly helpful in guiding me through the probate process after my father passed away. They made a difficult situation much easier to handle, and I am grateful for their compassion and expertise.” – Sarah J.
“I was hesitant to create an estate plan, but Steve put me at ease and explained everything in clear, understandable terms. I now feel confident that my family will be protected when the time comes.” – David M.
Ready to Take Control?
Secure your legacy and protect your loved ones. Contact San Diego Probate Law today for a complimentary consultation and let us guide you through every step of the estate planning process.
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: “How does a living trust work?” 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 |