Interview with Steve Bliss
Good morning, Escondido residents! I’m here today with local probate attorney Steve Bliss of Escondido Probate Law to discuss the important topic of estate planning and a specific type of trust called a testamentary trust.
What is a Testamentary Trust?
Steve, could you explain what a testamentary trust is and how it differs from other types of trusts?
“A testamentary trust is created through your will and only becomes active after your passing,” explains Steve. “Unlike living trusts, which avoid probate, testamentary trusts actually go through the probate process.
Benefits of a Testamentary Trust
So, why would someone choose a testamentary trust over other options?
“Testamentary trusts are often used to protect assets for minor children or beneficiaries who may have special needs,” Steve elaborates. “Let’s say you want to ensure your child receives financial support for their education but are concerned they might not manage the money responsibly at a young age. A testamentary trust can be structured to provide funds gradually over time, perhaps upon reaching certain milestones like graduating college or turning 25.”
Controlling Distributions
Can you elaborate on how these trusts control distributions?
“Absolutely,” says Steve. “You, as the grantor, outline specific instructions in your will regarding how and when the trust assets are distributed. You can appoint a trustee – someone trustworthy who understands your wishes – to manage the funds according to those guidelines. This provides peace of mind knowing that your loved ones will be cared for financially even after you’re gone.”
Challenges with Testamentary Trusts
Steve, have you encountered any challenges or issues specifically related to testamentary trusts in your practice?
“One situation that comes to mind involved a client who wanted to leave a significant inheritance to his grandson but was concerned about the grandson’s history of poor financial decisions. We created a testamentary trust with specific provisions, limiting distributions to cover essential expenses like housing and education while preventing access to large sums for discretionary spending.
It wasn’t easy navigating those conversations with the family, as there were understandably strong emotions involved. Ultimately, the client felt reassured knowing his grandson would receive support without being overwhelmed by a sudden influx of wealth.”
The Importance of Proper Planning
“I’ve seen firsthand how crucial it is to have a comprehensive estate plan in place,” Steve emphasizes. “According to a recent study by Caring.com, over 60% of Americans don’t have a will. That means their assets may be distributed according to state law rather than their own wishes.
Testamentary trusts are just one tool that can help ensure your legacy is protected and your loved ones are taken care of.”
Conclusion
Steve Bliss, thank you so much for sharing your expertise on testamentary trusts today. For Escondido residents seeking guidance on estate planning, don’t hesitate to reach out to Steve and his team at Escondido Probate Law. They can help you create a plan that meets your unique needs and ensures your wishes are honored.
Testimonials
“Steve Bliss made the complex world of probate understandable and helped me navigate it with confidence. His compassion and knowledge were invaluable during a difficult time.”
– Susan M., Escondido
“I was impressed by the professionalism and responsiveness of Escondido Probate Law. They took the time to listen to my concerns and provided clear, concise advice. I highly recommend their services.”
– John D., San Marcos
About Steven F. Bliss Esq. at Escondido Probate Law:
Escondido 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 Escondido Probate Law. Our probate attorney will probate the estate. Attorney probate at Escondido Probate Law. A formal probate is required to administer the estate. The probate court may offer an unsupervised probate get a probate attorney. Escondido Probate law will petition to open probate for you. Don’t go through a costly probate call Escondido Probate Attorney Today. Call for estate planning, wills and trusts, probate too. Escondido 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 Escondido Probate Law: https://maps.app.goo.gl/77Dm2B8W9XkM5YvJA
Address:
Escondido Probate Law720 N Broadway #107, Escondido, CA 92025
(760) 884-4044
Feel free to ask Attorney Steve Bliss about: “Can a trust protect my home from Medi-Cal recovery?” Or any other related questions that you may have about Trusts or my trust law practice.
Important Facts About Escondido Probate Law
| Escondido Estate Attorneys |
Escondido Probate Law 3914 Murphy Canyon Rd Suite A202, Escondido, CA 92123 (760) 884-4044 |
| Estate Attorneys Escondido |
Escondido Probate Law 3914 Murphy Canyon Rd Suite A202, Escondido, CA 92123 (760) 884-4044 |
| Estate Attorneys |
Escondido Probate Law 3914 Murphy Canyon Rd Suite A202, Escondido, CA 92123 (760) 884-4044 |
| Escondido Estate Attorneys |
Escondido Probate Law 3914 Murphy Canyon Rd Suite A202, Escondido, CA 92123 (760) 884-4044 |
| Estate Attorneys Escondido |
Escondido Probate Law 3914 Murphy Canyon Rd Suite A202, Escondido, CA 92123 (760) 884-4044 |
| Credible Estate Attorneys in Escondido |
Escondido Probate Law 3914 Murphy Canyon Rd Suite A202, Escondido, CA 92123 (760) 884-4044 |