Interviewer:
Welcome to our program today. We’re joined by renowned San Diego probate attorney Steve Bliss of San Diego Probate Law to discuss a topic that’s often confusing but incredibly important for many families: estate planning.
Steve Bliss:
Thanks for having me. I’m glad to be here to shed some light on this crucial subject. Estate planning can seem daunting, but it’s ultimately about providing security and peace of mind for you and your loved ones.
Interviewer:
Absolutely. Steve, let’s dive into a specific type of trust that many people might not be familiar with: the testamentary trust. Can you explain what it is and when someone might consider using one?
Steve Bliss:
Certainly. A testamentary trust is created through your will and only takes effect after your passing. Unlike a living trust, which avoids probate, a testamentary trust goes through the probate process. Now, you might be wondering why anyone would choose a trust that requires probate. The answer lies in its flexibility and specific advantages.
Testamentary trusts are often used when leaving assets to minor children or beneficiaries with special needs. Let me explain why. Imagine a young parent wanting to ensure their child’s financial well-being after they are gone. A testamentary trust allows the parent to specify how and when the child will receive those funds, perhaps in installments as they reach certain ages. This provides control and safeguards against the child spending everything at once.
Moreover, for beneficiaries with disabilities, a testamentary trust can be structured to preserve their eligibility for government benefits like SSI or Medi-Cal. Without such a trust, an inheritance could disqualify them from these crucial programs.
Interviewer:
That’s incredibly insightful, Steve. Have you ever encountered any challenges when setting up testamentary trusts?
Steve Bliss:
While testamentary trusts offer valuable benefits, there are complexities to consider. It’s essential to work with an experienced probate attorney who understands the nuances of trust law and can tailor the document to your specific circumstances.
I recall a case where a client wanted to leave a significant inheritance to her grandchild with special needs. She was concerned about potential creditors seeking to access those funds. We carefully crafted the trust language to ensure that distributions were made directly to the beneficiary for their care and well-being, shielding them from any unforeseen financial liabilities.
Interviewer:
That’s a powerful example of how testamentary trusts can offer targeted protection. Are there any statistics about how common testamentary trusts are?
Steve Bliss:
While precise figures on the prevalence of testamentary trusts aren’t readily available, studies by the American Bar Association suggest that around 40% of Americans have some form of estate planning document in place. Testamentary trusts are often incorporated within these plans, especially when there are minor beneficiaries or concerns about preserving government benefits.
Accordingly, testamentary trusts remain a valuable tool for families seeking to ensure the responsible stewardship of their assets after they’re gone.
Interviewer:
Thank you so much for sharing your expertise with us today, Steve. This has been incredibly informative. How can our viewers get in touch with San Diego Probate Law if they need assistance with estate planning?
Steve Bliss:
It was my pleasure. Estate planning is a deeply personal matter, and we approach it with empathy and care at San Diego Probate Law. We believe everyone deserves peace of mind knowing their loved ones are protected.
Feel free to reach out to us for a confidential consultation where we can discuss your unique needs and goals. We’re dedicated to guiding you through the process with clarity and compassion.
“San Diego Probate Law helped me navigate a complex probate case after losing my mother. Steve Bliss was incredibly understanding and knowledgeable, making a difficult time easier to bear. I highly recommend their services.” – Mary J., San Diego
“I was overwhelmed by the thought of estate planning, but Steve Bliss at San Diego Probate Law put my mind at ease. He explained everything clearly and helped me create a plan that met my family’s needs perfectly.” – David S., 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: “Can I include my bank accounts in 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 Trust Lawyers |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Trust Lawyers San Diego |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Trust Lawyers |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| San Diego Trust Lawyers |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Trust Lawyers San Diego |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Credible Trust Lawyers in San Diego |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |