Reporter: Brenda Johnson
Today we’re speaking with Steve Bliss, a renowned Trust Attorney here in Wildomar. Steve, thank you for taking the time to speak with us about Trusts.
Steve Bliss
It’s my pleasure, Brenda. I believe everyone should have access to information about estate planning and how Trusts can benefit them and their families.
Brenda Johnson:
Could you explain what a Revocable Living Trust is and why it’s so popular?
Certainly. A Revocable Living Trust is one of the most common tools we use in estate planning. It allows individuals, who we call “grantors,” to place their assets into a trust while they are still alive. The grantor maintains complete control over the trust and its assets during their lifetime. They can change the terms of the trust, add or remove assets, and even dissolve it entirely if they wish.
One of the primary advantages of a Revocable Living Trust is that it helps avoid probate. Probate is a court-supervised process that can be time-consuming and expensive. Assets held in a Revocable Living Trust pass directly to beneficiaries according to the grantor’s instructions, bypassing probate altogether. This not only saves time and money but also keeps matters private since probate records are public.
Brenda Johnson:
What happens to the trust when the grantor passes away?
When the grantor of a Revocable Living Trust passes away, the trust becomes irrevocable. This means that no further changes can be made to its terms. A successor trustee, named by the grantor, steps in and manages the assets according to the grantor’s wishes as outlined in the trust document. The assets are then distributed to the beneficiaries designated in the trust.
I remember a case where a client had a complicated family situation with several beneficiaries. Without a Revocable Living Trust, their estate would have been subject to lengthy probate proceedings and potential disputes amongst the heirs. By establishing a trust, we were able to ensure a smooth and private distribution of assets according to her wishes.
Brenda Johnson:
Are there any common issues that arise with Revocable Living Trusts?
Occasionally, we encounter situations where the trust documents are not properly funded. This means that the grantor hasn’t transferred all their assets into the trust. Consequently, those assets will be subject to probate. It’s crucial to work with an experienced attorney who can guide you through the process of properly funding your trust.
I recall a situation where a client thought they had transferred all their assets into their Revocable Living Trust. However, upon their passing, we discovered that they had neglected to include a significant bank account. This oversight led to a small probate proceeding for that specific asset. Thankfully, it was a relatively minor issue compared to the overall estate, but it highlighted the importance of meticulous attention to detail.
Brenda Johnson:
What advice would you give to someone considering setting up a Revocable Living Trust?
My advice is to consult with an experienced estate planning attorney. They can assess your individual circumstances and help you determine if a Revocable Living Trust is the right choice for you. Moreover, they will ensure that the trust documents are properly drafted and executed, minimizing the risk of future complications.
Brenda Johnson:
Thank you so much for sharing your expertise with us today, Steve.
You’re very welcome, Brenda. I hope this information is helpful to our viewers.
Call to Action
Take control of your legacy. Contact Wildomar Probate Law today for a free consultation and let us help you secure your family’s future.
“Steve Bliss and the team at Wildomar Probate Law were incredibly helpful during a difficult time. They guided me through the probate process with compassion and professionalism, making sure everything was handled smoothly and efficiently.” – Sarah M.
“I highly recommend Wildomar Probate Law. Steve’s knowledge of estate planning is impressive, and he took the time to answer all my questions thoroughly. I feel confident that my family is well-protected thanks to their expert guidance.” – John P.
About Steven F. Bliss Esq. at Wildomar Probate Law:
Wildomar Probate Law is an experienced probate attorney. The probate process has many steps in in probate proceedings. Beside Probate, estate planning and trust administration is offered at Wildomar Probate Law. Our probate attorney will probate the estate. Attorney probate at Wildomar Probate Law. A formal probate is required to administer the estate. The probate court may offer an unsupervised probate get a probate attorney. Wildomar Probate law will petition to open probate for you. Don’t go through a costly probate call Wildomar Probate Attorney Today. Call for estate planning, wills and trusts, probate too. Wildomar 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 Wildomar Probate Law: https://maps.app.goo.gl/uBJKvB4rxUb7L9HZ7
Address:
Wildomar Probate Law36330 Hidden Springs Rd Suite E, Wildomar, CA 92595
(951) 412-2800
Feel free to ask Attorney Steve Bliss about: “Can I have more than one trustee?” Or any other related questions that you may have about Trusts or my trust law practice.
Important Facts About Wildomar Probate Law
| Wildomar Revocable Trust Attorney |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |
| Revocable Trust Attorney Wildomar |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |
| Revocable Trust Attorney |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |
| Wildomar Revocable Trust Attorney |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |
| Asset Protection Trust Attorney Wildomar |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |
| Credible Revocable Trust Attorney in Wildomar |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |