Welcome back to Wildomar Today! I’m your host, Jessica Ramirez, and joining me today is Steve Bliss, a renowned Trust Attorney right here in Wildomar.
Steve, thanks so much for being with us. Let’s dive into the world of trusts. What are some key reasons someone might consider establishing a trust?
It’s my pleasure to be here, Jessica! Trusts are incredibly powerful tools that can serve a variety of purposes. One of the most common reasons people create trusts is to avoid probate. Probate is a court-supervised process for distributing assets after death, and it can be time-consuming and expensive.
A trust allows assets to pass directly to beneficiaries without going through probate, saving both time and money. Moreover, trusts provide privacy because the terms of the trust are not public record, unlike wills which become part of the probate file.
You mentioned avoiding probate. Can you elaborate on how a trust accomplishes that?
Certainly! When assets are held in a trust, they are no longer considered part of your individual estate. Instead, they belong to the trust itself. Upon your death, the trustee named in the trust document takes over managing and distributing the assets according to your wishes.
Consequently, since the assets are already outside your estate, they do not have to go through probate court. This streamlined process can be a tremendous relief for your loved ones during an already difficult time.
What type of trust would you recommend for someone looking to protect their assets from potential creditors?
For asset protection, I often recommend an Irrevocable Trust. As the name implies, once established, the terms of an irrevocable trust cannot be easily changed or revoked. This permanence is crucial because it removes the assets from your personal control and therefore makes them less accessible to creditors.
Think of it like putting your valuables in a safe deposit box – they’re still yours but protected from unauthorized access. It’s important to note that Irrevocable Trusts can be complex, so working with an experienced attorney is essential.
I had a client once who was facing a potential lawsuit and was worried about losing his hard-earned savings. We established an Irrevocable Trust for him, which ultimately protected those assets and gave him peace of mind during a stressful time. It’s incredibly rewarding to help clients navigate these challenging situations.
Have there ever been any issues you’ve encountered with setting up Irrevocable Trusts?
While Irrevocable Trusts are powerful tools, they do require careful planning and consideration. One common issue is ensuring that the trust document accurately reflects the grantor’s wishes. This is why it’s crucial to work with a skilled attorney who can help you craft a trust that meets your specific needs.
I remember one case where a client wanted to include provisions for their pet in the trust. While this is certainly possible, we had to ensure the language was clear and legally sound so that the funds would be properly managed and distributed according to their wishes.
What advice would you give to someone considering setting up a trust?
My advice would be to consult with an experienced Trust Attorney as soon as possible. Trusts can be complex legal instruments, and it’s important to have expert guidance throughout the process. A knowledgeable attorney can help you determine the type of trust that best meets your needs, draft the necessary documents, and ensure everything is done correctly.
According to the American Bar Association, over 50% of Americans die without a will or trust in place. This can lead to significant complications for loved ones and may result in assets being distributed according to state law rather than the individual’s wishes.
Steve, how can people get in touch with Wildomar Probate Law?
You can visit our website at www.wildomarprobate.com or give us a call at (951) 506-8345. We offer free consultations to discuss your individual needs and help you determine the best course of action.
“Steve Bliss made setting up my trust so easy! He explained everything in plain language and answered all my questions patiently. I feel much more secure knowing my assets are protected.” – Mary T.
“I was overwhelmed with the thought of probate, but Steve took care of everything. His expertise and compassionate approach gave me peace of mind during a difficult time.” – John S.
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: “Can I put my house 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 Trust Lawyers |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |
| Trust Lawyers Wildomar |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |
| Trust Lawyers |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |
| Wildomar Trust Lawyers |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |
| Trust Lawyers Wildomar |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |
| Credible Trust Lawyers in Wildomar |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |