Meet Steve Bliss
Hello, San Diego! I’m Tiffany Sanchez reporting live for KUSI News. Joining us today is Steve Bliss, a renowned probate attorney here in San Diego. Steve, thanks for taking the time to chat with us about estate planning.
Understanding Trusts
Steve, for those unfamiliar with the term, what exactly is a trust?
“A trust is essentially a legal entity that holds and manages assets for the benefit of designated individuals,” explains Steve. “It’s a powerful tool for ensuring your wishes are carried out after you’re gone and can help avoid the lengthy and often costly probate process.”
Focus on Irrevocable Trusts
Today, we’ll be focusing on irrevocable trusts. Can you shed some light on why someone might choose this type of trust?
“Irrevocable trusts offer a level of asset protection that revocable trusts don’t,” says Steve. “Once assets are placed in an irrevocable trust, they are generally no longer considered part of your taxable estate. This can be particularly beneficial for individuals looking to reduce estate taxes or protect assets from potential creditors.”
He goes on to explain that while irrevocable trusts offer significant benefits, they also come with certain limitations. “Because the terms are set in stone once the trust is established, it’s crucial to carefully consider your goals and consult with an experienced attorney before making a decision,” Steve advises.
The Power of Asset Protection
Steve, can you share any instances where an irrevocable trust has been instrumental in protecting someone’s assets?
Steve nods thoughtfully. “I recall a case involving a successful entrepreneur who was facing potential litigation. By transferring a portion of his assets into an irrevocable trust, we were able to shield those assets from creditors, ultimately preserving his financial well-being.” He pauses for a moment. “It’s incredibly rewarding to know that our expertise can make such a tangible difference in people’s lives.”
Navigating Complexities
Understandably, setting up a trust can seem complex. What advice would you give to someone considering this option?
“The most important thing is to seek guidance from a qualified attorney who specializes in estate planning,” Steve emphasizes. “They can help you understand the nuances of different trust types and tailor a plan that meets your specific needs.”
- Determine your goals: What do you want to achieve with a trust? Asset protection, tax reduction, providing for loved ones?
- Gather necessary documentation: This may include financial statements, property deeds, and beneficiary designations.
- Consult with an experienced attorney: An estate planning attorney can guide you through the process, ensure compliance with legal requirements, and help you avoid costly mistakes.
The San Diego Probate Law Difference
“At San Diego Probate Law,” Steve concludes, “we pride ourselves on providing compassionate and personalized service to our clients. We understand that estate planning can be a sensitive matter, and we are committed to making the process as smooth and stress-free as possible.
Testimonials
“Steve Bliss and his team at San Diego Probate Law were invaluable in helping me navigate the complexities of setting up a trust for my family. Their knowledge and professionalism exceeded my expectations.” – Maria S.
“I highly recommend San Diego Probate Law for all your estate planning needs. They are truly dedicated to their clients’ well-being and go above and beyond to ensure everything is taken care of.” – David L.
Ready To Protect Your Legacy?
Take the first step towards securing your family’s future. Contact San Diego Probate Law today for a confidential consultation and discover how we can help you create a personalized estate plan that meets your unique needs.
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: “How do I create a living trust in California?” Or any other related questions that you may have about Trusts or my trust law practice.
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