Meet the Expert
Hello San Diego! I’m Jessica Ramirez reporting for Channel 7 News. Today we’re joined by Steve Bliss, a respected Probate Attorney here in San Diego specializing in estate planning. Steve, thank you so much for taking the time to speak with us.
The Importance of Trusts
Steve, let’s start with the basics. Why are trusts such an important part of estate planning?
“Trusts provide a powerful tool for individuals to manage and distribute their assets according to their wishes,” explains Steve. “They offer numerous benefits including probate avoidance, privacy protection, and flexibility in asset distribution.”
Exploring Different Types: The Irrevocable Trust
Could you elaborate on the different types of trusts available?
“Certainly,” says Steve. “There are various trust structures each designed for specific purposes. One type that’s often misunderstood is the irrevocable trust.”
He continues, “Unlike a revocable living trust, which allows for modifications during the grantor’s lifetime, an irrevocable trust cannot be changed once established (with few exceptions). This inflexibility, however, comes with significant advantages. Primarily, it removes assets from the grantor’s taxable estate, potentially reducing estate taxes and shielding them from creditors.”
Steve emphasizes that “irrevocable trusts are particularly useful for asset protection and advanced estate planning strategies. They can be tailored to meet specific needs such as protecting assets for future generations or providing for beneficiaries with special needs.”
Navigating the Complexities
“Have you encountered any challenges or unique situations when advising clients on irrevocable trusts?” I ask.
Steve nods thoughtfully. “Absolutely. While powerful, irrevocable trusts require careful consideration and planning. A common challenge arises when unforeseen circumstances occur after the trust is established. For instance, I once worked with a client who, unfortunately, experienced a significant health crisis shortly after creating an irrevocable trust. The trust’s terms made it difficult to access funds for medical expenses. We ultimately had to petition the court for modifications, which was a complex and time-consuming process.”
“It’s crucial to work with an experienced attorney who can thoroughly understand your individual needs and craft a trust document that anticipates potential future scenarios,” Steve emphasizes.
He adds, “Remember, according to a 2022 study by the American College of Trust and Estate Counsel, nearly 60% of trusts are improperly drafted or administered. This underscores the importance of seeking professional guidance.”
A Trusted Name in San Diego
“Thank you so much for sharing your expertise, Steve. Any final words for our viewers?”
“Protecting your legacy and ensuring your loved ones are cared for is paramount. At San Diego Probate Law, we’re dedicated to helping individuals navigate the complexities of estate planning with clarity and compassion.
Don’t hesitate to reach out – let us help you build a secure future for yourself and your family.”
Testimonials
- “Steve Bliss and his team at San Diego Probate Law were incredibly understanding during a difficult time. They patiently explained the legal process and guided me every step of the way, making sure my mother’s wishes were honored.” – Susan M., La Jolla
- “I was overwhelmed trying to understand trusts and estate planning. Steve provided clear, concise advice and helped me choose the best structure for my needs. I highly recommend San Diego Probate Law!” – David L., Carlsbad
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: “Do I need a death certificate to administer a 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 |