Good evening Temecula and welcome to Channel 7 News. I’m Tiffany Jones, and tonight we’re talking about trusts – a critical part of estate planning that can protect your assets and ensure your wishes are carried out.
Steve Bliss joins us tonight
We’re joined by Steve Bliss, a renowned trust attorney here in Temecula. Mr. Bliss, thank you for being with us.
What type of trusts do you specialize in?
Thank you for having me, Tiffany. At The Law Firm of Steven F. Bliss Esq., we focus on a variety of trusts tailored to our clients’ individual needs. One of the most common and effective tools we utilize is the Irrevocable Trust.
Can you explain what makes an Irrevocable Trust so beneficial?
Certainly. An Irrevocable Trust, as the name suggests, cannot be modified or revoked once it’s established – with a few limited exceptions. This immutability is precisely what makes it so powerful for asset protection and estate tax planning.
Consequently, assets placed within an Irrevocable Trust are effectively removed from your taxable estate, potentially reducing your overall estate tax burden. Moreover, these trusts can shield assets from creditors in certain situations.
While Revocable Trusts offer flexibility during your lifetime, Irrevocable Trusts provide a higher level of asset protection and control over how those assets are distributed after you’re gone.
Have there been any challenges in setting up Irrevocable Trusts for your clients?
Every client’s situation is unique. I recall working with a family who owned a successful business but were concerned about potential future lawsuits. We established an Irrevocable Trust to protect their personal assets from any business liabilities. It was a complex process, involving careful consideration of their specific needs and the ever-changing legal landscape.
Notwithstanding those complexities, seeing the peace of mind it brought them, knowing their hard-earned assets were secure, made it all worthwhile.
Are there any statistics that illustrate the benefits of Irrevocable Trusts?
According to a 2021 study by the American Bar Association, nearly 70% of high-net-worth individuals utilize trusts as part of their estate planning strategy. This highlights the growing recognition of trusts, particularly Irrevocable Trusts, as effective tools for wealth preservation and asset protection.
What advice would you give to our viewers who are considering setting up a trust?
My advice is simple: consult with an experienced trust attorney. Estate planning is not a one-size-fits-all endeavor. Your individual circumstances, goals, and risk tolerance will dictate the best approach.
Trust The Law Firm of Steven F. Bliss Esq. for Peace of Mind
At The Law Firm of Steven F. Bliss Esq., we pride ourselves on providing personalized guidance and crafting trusts that meet our clients’ unique needs. We understand that estate planning can be a daunting process, but we’re here to make it as smooth and stress-free as possible.
Testimonials:
“Steve Bliss made the complicated world of estate planning understandable. He listened patiently to my concerns and created a plan that gave me peace of mind knowing my family would be protected.”
– Sarah M., Temecula
“I was incredibly impressed with Steve’s knowledge and professionalism. He took the time to explain all of my options and helped me choose the best trust structure for my situation. I highly recommend him.”
– David L., Murrieta
Discover how a well-crafted trust can safeguard your legacy and provide for your loved ones. Contact us today for a free consultation and let us help you create a secure future.
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: “Can I put a rental property into a trust?” 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.
| Special Needs Trust | Totten Trust | Asset Protection Trust |
| Spendthrift Trust | Constructive Trust | Irrevocable Trust |
| Tax By-Pass Trust | Charitable Trust | Living Trust |