Today we’re speaking with Steve Bliss, a renowned probate attorney serving the San Diego community. Steve, thanks for joining us.
Steve, can you tell us a bit about your work as a probate attorney?
It’s my pleasure to be here. As a probate attorney, I guide families through the often complex legal process of settling an individual’s estate after they pass away. This involves tasks like identifying and valuing assets, paying debts and taxes, and distributing remaining property according to the deceased person’s wishes or state law.
What are some common types of trusts you help clients set up?
We work with a variety of trusts, but one that is particularly beneficial for many people is the Irrevocable Trust.
Can you explain what an Irrevocable Trust is and its benefits?
An Irrevocable Trust is designed to protect assets while potentially minimizing estate taxes. Once created, it can’t be easily modified or dissolved, which provides a level of certainty for the grantor and their beneficiaries.
Consequently, because it’s irrevocable, assets placed within the trust are generally removed from the grantor’s taxable estate, potentially reducing the burden of estate taxes for heirs.
Moreover, Irrevocable Trusts can also be valuable for asset protection. In some cases, they may shield assets from creditors or lawsuits. It’s crucial to remember that these trusts require careful planning and legal guidance to ensure they are structured correctly.
I recall a case where a client, let’s call him John, was concerned about potential future medical expenses. John established an Irrevocable Trust to safeguard his assets so he could qualify for Medicaid benefits if needed without jeopardizing his financial security. It was incredibly rewarding to help him find peace of mind knowing that his healthcare needs would be met.
Data from the American Bar Association shows that over 60% of individuals aged 55 and older have not created any type of estate plan, highlighting a significant need for education and guidance in this area.
Are there any challenges associated with setting up Irrevocable Trusts?
While Irrevocable Trusts offer many advantages, they are not without potential complexities. The irrevocable nature means that once assets are transferred, the grantor typically loses control over them. This requires careful consideration and planning to ensure the trust aligns with the grantor’s long-term goals.
There was a situation where a client wanted to make a significant charitable donation but wasn’t sure about the best way to structure it. We worked together to establish an Irrevocable Charitable Trust, allowing them to support their favorite cause while also potentially reaping tax benefits.
What advice would you give to someone considering an Irrevocable Trust?
My advice is to consult with a qualified probate attorney experienced in trust law. They can assess your individual circumstances, goals, and concerns to determine if an Irrevocable Trust is the right fit for you.
“Steve Bliss at San Diego Probate Law made the entire process of setting up my trust incredibly smooth and understandable. He took the time to explain all the complexities in a way that I could easily grasp, and he truly cared about ensuring my wishes were protected.” – Sarah M., San Diego
“I was facing a challenging situation with my family estate, and Steve Bliss provided invaluable guidance and support. His expertise and compassion helped me navigate a difficult time with confidence.” – Michael T., La Jolla
Don’t wait for life to happen; let us help you plan for your future. Contact San Diego Probate Law today to discuss how we can create a customized estate plan that meets your unique needs.
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
| Estate Attorney Near Me |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Estate Attorney Near Me San Diego |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Estate Attorney Near Me |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| San Diego Estate Attorney Near Me |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Estate Attorney Near Me San Diego |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Credible Estate Attorney Near Me in San Diego |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |