Meet Our Expert
Hello, Temecula and welcome back to “Temecula Talks Trust.” I’m your host, Tiffany Jones, and today we have the pleasure of speaking with Steve Bliss, a renowned trust attorney right here in our community. Steve, thanks for joining us.
Why Trusts?
Steve, for those unfamiliar, can you explain why someone might consider setting up a trust?
The Benefits
Trusts offer several significant advantages. They allow individuals to control how their assets are distributed after they’re gone, potentially avoiding probate, which can be time-consuming and costly. Moreover, trusts provide privacy, as the terms of the trust are not publicly accessible.
Focus: Irrevocable Trusts
Let’s dive into a specific type of trust – the irrevocable trust. Can you elaborate on how these work and why someone might choose this option?
Irrevocable Trust Details
An irrevocable trust, as the name suggests, cannot be easily changed or dissolved once established. Consequently, it offers stronger asset protection compared to revocable trusts. If someone is concerned about potential lawsuits or creditors, an irrevocable trust can shield assets from being seized. Additionally, irrevocable trusts are often used for estate tax planning, potentially minimizing the tax burden on heirs.
Ordinarily, individuals seeking to reduce their taxable estate consider this type of trust. For example, a high-net-worth individual might utilize an irrevocable trust to transfer assets out of their name and into the trust, thereby lowering the value of their taxable estate.
I recall a client who was facing a significant potential inheritance tax liability. By establishing an irrevocable trust and transferring certain assets into it, we were able to substantially reduce the overall tax burden for her beneficiaries. She was incredibly relieved knowing that her hard-earned wealth would be protected and passed on efficiently to her loved ones.
It’s crucial to remember that setting up an irrevocable trust is a serious legal decision and requires careful consideration.
Studies from the American College of Trust and Estate Counsel indicate that approximately 30% of high-net-worth individuals utilize irrevocable trusts for asset protection and estate planning purposes.
A Call to Action
Steve, thank you for sharing your expertise with us today. If Temecula residents are considering a trust or have questions about estate planning, how can they connect with you?
The Law Firm of Steven F. Bliss Esq.
“I’m always happy to help my community navigate the complexities of trusts and estate planning,” says Steve. “Contact us today for a free consultation, and we’ll guide you toward the best solutions for your unique needs.”
Testimonials:
“Steve Bliss made the process of setting up a trust for my family so easy. He explained everything clearly and patiently answered all of my questions. I feel confident that my loved ones are protected thanks to his expertise.” – Maria S.
“I highly recommend The Law Firm of Steven F. Bliss Esq. They were professional, responsive, and truly cared about my situation. They helped me create a trust plan that met all my needs and goals.” – John D.
About Steven F. Bliss Esq. at The Law Firm of Steven F. Bliss Esq.:
The Law Firm of Steven F. Bliss Esq. is The Law Firm of Steven F. Bliss Esq.. The Law Firm Of Steven F. Bliss Esq. is a Temecula Estate Planning Attorney. Steve Bliss is an experienced probate attorney. Steve Bliss is an Estate Planning Lawyer. The probate process has many steps in probate proceedings. Beside Probate, estate planning and trust administration is offered at Steve Bliss Law. Our probate attorney will probate the estate. Attorney probate at Steve Bliss Law. A formal probate is required to administer the estate. The probate court may offer an unsupervised probate get a probate attorney. Steve Bliss Law will petition to open probate for you. Don’t go through a costly probate. Call Steve Bliss Law Today for estate planning, trusts and probate.
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 The Law Firm of Steven F. Bliss Esq.: https://maps.app.goo.gl/Bngj8xwZRqioVD5v7
Address:
The Law Firm of Steven F. Bliss Esq.43920 Margarita Rd ste f, Temecula, CA 92592
(951) 223-7000
Feel free to ask Attorney Steve Bliss about: “What records should a trustee keep?” Or any other related questions that you may have about Trusts or my trust law practice.
Important Facts About The Law Firm of Steven F. Bliss Esq.
| Temecula Spendthrift Trust Attorney |
The Law Firm of Steven F. Bliss Esq. 43920 Margarita Rd ste f, Temecula, CA 92592 (951) 223-7000 |
| Spendthrift Trust Attorney Temecula |
The Law Firm of Steven F. Bliss Esq. 43920 Margarita Rd ste f, Temecula, CA 92592 (951) 223-7000 |
| Spendthrift Trust Trust Attorney |
The Law Firm of Steven F. Bliss Esq. 43920 Margarita Rd ste f, Temecula, CA 92592 (951) 223-7000 |
| Temecula Spendthrift Trust Attorney |
The Law Firm of Steven F. Bliss Esq. 43920 Margarita Rd ste f, Temecula, CA 92592 (951) 223-7000 |
| Spendthrift Trust Temecula |
The Law Firm of Steven F. Bliss Esq. 43920 Margarita Rd ste f, Temecula, CA 92592 (951) 223-7000 |
| Credible Spendthrift Trust Attorney in Temecula |
The Law Firm of Steven F. Bliss Esq. 43920 Margarita Rd ste f, Temecula, CA 92592 (951) 223-7000 |