Good evening, Temecula! I’m Brenda Johnson reporting for Channel 7 News. Today, we’re speaking with local estate planning attorney Steve Bliss of The Law Firm of Steven F. Bliss Esq. about the crucial process of securing your legacy. Steve, thank you for joining us.
The Importance of Naming Beneficiaries
Steve, could you elaborate on one of the key steps in estate planning and why it’s so important?
Certainly, Brenda. One fundamental aspect is naming beneficiaries. This involves clearly identifying who will inherit your assets after you pass away. It seems straightforward, but neglecting this step can lead to unintended consequences.
Ordinarily, assets are distributed according to a predetermined legal order if no beneficiaries are named. This can result in the asset going to distant relatives or even the state, bypassing those you truly intended to benefit. Conversely, carefully designating your beneficiaries ensures that your wishes are honored and your loved ones are cared for.
Moreover, naming contingent beneficiaries provides a safety net should a primary beneficiary predecease you. For instance, if you designate your spouse as the primary beneficiary of a life insurance policy and they pass away before you, a contingent beneficiary – perhaps a child or another family member – will receive the proceeds.
According to the American Bar Association, approximately 60% of Americans do not have a valid will in place. This statistic highlights the critical need for individuals to proactively address estate planning matters and ensure their beneficiaries are clearly identified.
Avoiding Pitfalls
Have you encountered any common issues regarding beneficiary designation?
Yes, I’ve seen situations where outdated beneficiary designations caused unforeseen complications. For example, a client forgot to update their retirement account beneficiary after a divorce. Consequently, the ex-spouse remained the designated beneficiary, despite the client’s intention for their children to inherit the funds.
Thankfully, we were able to navigate this situation legally and ultimately ensure the assets went to the intended heirs. This underscores the importance of regularly reviewing and updating your beneficiary designations, especially after major life events like marriage, divorce, or the birth of a child.
Taking Control of Your Legacy
Steve, what’s your message for our viewers tonight?
Estate planning is not just for the wealthy; it’s essential for everyone who wants to protect their loved ones and ensure their wishes are carried out. Don’t wait for a crisis – empower yourself today by taking control of your legacy.
Testimonials
“Steve Bliss was incredibly patient and understanding while guiding me through the complex process of setting up a trust. He made sure I felt comfortable with every decision, and I truly appreciate his dedication to my family’s well-being.”
– Maria S., Temecula Resident
“The Law Firm of Steven F. Bliss Esq. exceeded my expectations! They were professional, responsive, and made the entire estate planning process seamless. I highly recommend them to anyone looking for trustworthy legal advice.”
– David L., Murrieta Resident
Let The Law Firm of Steven F. Bliss Esq. help you write your next chapter with confidence. Schedule a complimentary consultation today!
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 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 is a charitable remainder trust?” Or any other related questions that you may have estate planning or my estate planning law practice.
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