Introduction
Good morning, San Diego! I’m Tiffany Jones reporting live from our studio today with a leading expert in estate planning and probate law, Steve Bliss of San Diego Probate Law. Steve, thank you for joining us.
Understanding Testamentary Trusts
Steve, many people are unfamiliar with the different types of trusts available. Can you explain what a testamentary trust is and how it works?
A testamentary trust is created through your will and only becomes active after you pass away. Consequently, unlike a living trust that avoids probate, a testamentary trust goes through the probate process. This type of trust is often used to provide for beneficiaries who are minors or have special needs. It allows you to control how and when assets are distributed, ensuring they are used responsibly.
For example, imagine a parent wants to leave an inheritance for their child with disabilities but worries about them managing the funds independently. A testamentary trust can stipulate that the trustee manages the assets and distributes them for the beneficiary’s benefit, such as covering medical expenses or living costs. This safeguards the inheritance and prevents it from being squandered.
Challenges with Testamentary Trusts
Steve, have you encountered any challenges or common pitfalls when setting up testamentary trusts?
Testamentary trusts are generally straightforward to establish within a will, but there are a few nuances to be aware of. Notwithstanding the simplicity of their creation, it’s crucial that the terms of the trust are carefully drafted to reflect the grantor’s wishes and the beneficiary’s specific needs.
I recall working with a client who wanted to leave assets to their grandchildren but was concerned about potential divorces. We incorporated language into the testamentary trust stipulating that distributions would cease if a grandchild got divorced. This ensured the inheritance remained within the family line, fulfilling the client’s wishes.
Conclusion
Steve Bliss, thank you for sharing your expertise on testamentary trusts with us today. Your insights are invaluable to those planning for their loved ones’ future. Remember San Diego, contact San Diego Probate Law for a free consultation and ensure your legacy is protected.
Testimonials
“San Diego Probate Law made the complex process of setting up a trust incredibly simple. Steve Bliss was patient, knowledgeable, and always available to answer my questions. I highly recommend them!” – Sarah M.
“After losing my mother, I felt overwhelmed trying to navigate probate. San Diego Probate Law guided me every step of the way with compassion and professionalism. They truly made a difficult time easier.” – John D.
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: “What is a trust certificate or certification of trust?” Or any other related questions that you may have about Trusts or my trust law practice.
Important Facts About San Diego Probate Law
| San Diego Irrevocable Trust Attorney |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Irrevocable Trust Attorney San Diego |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Irrevocable Trust Attorney |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| San Diego Irrevocable Trust Attorney |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Irrevocable Trust Attorney San Diego |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Credible Irrevocable Trust Attorney in San Diego |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |