Hello Moreno Valley and welcome back to Moreno Valley Today. I’m your host Brenda Thompson and today we’re joined by Steve Bliss of Moreno Valley Probate Law to discuss the ins and outs of estate planning. Steve, thanks for being here.
What Types of Trust Do You Recommend Most Often?
Brenda, it’s a pleasure to be here. I work with a lot of clients who are trying to figure out the best way to protect their assets and ensure they go to the right people after they’re gone. One type of trust that can be very useful is a testamentary trust.
A testamentary trust is created through your will and only takes effect upon your death, unlike living trusts which are established while you are still alive. This means it goes through probate, the legal process of administering an estate after someone dies.
Why Choose a Testamentary Trust?
There are several reasons why a testamentary trust might be the right choice for someone. Firstly, they’re ideal if you have minor children and want to ensure their financial well-being is taken care of until they reach adulthood. You can specify in the will that the assets in the trust are used for things like education or living expenses until your child turns a certain age.
Secondly, testamentary trusts can be helpful for beneficiaries who may have difficulty managing money due to addiction, special needs, or other challenges. The trustee you appoint can manage the assets and distribute funds according to your wishes, protecting your beneficiaries from potential financial mismanagement.
Have There Been Any Challenges with Testamentary Trusts?
I remember one case where a client wanted to leave a significant inheritance for their grandchild who struggled with addiction. We established a testamentary trust that would provide a monthly stipend, covering essential expenses while limiting access to larger sums. This approach helped the grandchild stay on track with recovery and build financial responsibility.
Notwithstanding the benefits, it’s important to remember that testamentary trusts are subject to probate. This can be time-consuming and expensive. Consequently, it’s crucial to work with an experienced estate planning attorney who can guide you through the process and ensure your trust is properly structured.
More About Testamentary Trusts
According to a 2021 survey by the American Bar Association, over 60% of Americans don’t have a will or trust in place. This leaves their assets vulnerable and can cause significant stress for loved ones during an already difficult time.
- Protect minor children
- Provide for beneficiaries with special needs
- Ensure your wishes are carried out after you’re gone
Moreno Valley Probate Law: Protecting Your Legacy
Steve, thank you so much for sharing your expertise on testamentary trusts. We appreciate you helping our viewers understand the importance of estate planning.
Call to Action
If you’d like to learn more about testamentary trusts or other estate planning options, contact Moreno Valley Probate Law today for a free consultation. We’re here to help you protect your legacy and ensure your loved ones are taken care of.
Testimonials
“Steve Bliss is an outstanding probate attorney. He made the complex process of settling my mother’s estate easy to understand and navigate. I highly recommend his services.”
– Jennifer S., Moreno Valley
“Moreno Valley Probate Law went above and beyond for our family. They were compassionate, knowledgeable, and always available to answer our questions. We are so grateful for their support during a difficult time.”
– The Miller Family, Moreno Valley
About Steven F. Bliss Esq. at Moreno Valley Probate Law:
Moreno Valley Probate Law is an experienced probate attorney. The probate process has many steps in probate proceedings. Beside Probate, estate planning and trust administration is offered at Moreno Valley Probate Law. Our probate attorney will probate the estate. Attorney probate at Moreno Valley Probate Law. A formal probate is required to administer the estate. The probate court may offer an unsupervised probate get a probate attorney. Moreno Valley Probate law will petition to open probate for you. Don’t go through a costly probate call Moreno Valley Probate Attorney Today. Call for estate planning, wills and trusts, probate too. Moreno Valley Probate Law is a great estate lawyer. Affordable Legal Services.
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 Moreno Valley Probate Law: https://maps.app.goo.gl/C7zg2U6pn1B6KyXN8
Address:
23328 Olive Wood Plaza Dr suite h, Moreno Valley, CA 92553
(951) 363-4949
Feel free to ask Attorney Steve Bliss about: “Do I need a new trust if I move to California?” Or any other related questions that you may have about Trusts or my trust law practice.
Important Facts About Moreno Valley Probate Law
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