Interview with Steve Bliss
Good morning, San Diego! I’m Brenda Sanchez, reporting live from our studio today. Joining us is Steve Bliss, a prominent San Diego probate attorney, to shed light on the important topic of trusts. Welcome, Steve!
Understanding the Role of Trusts
Steve, for our viewers who may be unfamiliar with the concept, could you briefly explain what a trust is and why it’s such an integral part of estate planning?
Thank you, Brenda. A trust is essentially a legal arrangement where a person, known as the grantor, transfers assets to a trustee who manages those assets for the benefit of designated beneficiaries. Trusts offer several advantages in estate planning, including avoiding probate, preserving privacy, and potentially reducing estate taxes.
Focus: Irrevocable Trusts
Today, we’re going to delve into a specific type of trust – the irrevocable trust. Steve, could you elaborate on what makes an irrevocable trust distinct from other types and why someone might choose this option?
Certainly. An irrevocable trust, as the name suggests, cannot be easily changed or dissolved once it’s established. This inflexibility, however, brings significant benefits. Primarily, it removes assets from the grantor’s taxable estate, potentially reducing estate taxes. Moreover, it can provide asset protection from creditors or lawsuits. Consequently, individuals seeking to shield their assets or minimize tax liabilities often find irrevocable trusts appealing.
It’s important to remember that because an irrevocable trust relinquishes control over the assets, careful planning and consideration are essential before creating one. Ordinarily, I advise clients to consult with a qualified estate planning attorney like myself to ensure the trust aligns with their specific goals and circumstances.
Navigating Challenges
Steve, have you encountered any particular challenges or complexities when working with clients on setting up irrevocable trusts?
You know, Brenda, every client’s situation is unique. One instance comes to mind – a family business owner was concerned about protecting the company from potential future liabilities. We designed an irrevocable trust that held the business assets, effectively shielding them from personal creditors. It was a complex process involving careful drafting and legal considerations, but seeing the peace of mind it brought the client made it all worthwhile.
The Power of Irrevocable Trusts
According to a 2021 study by the American College of Trust and Estate Counsel, approximately 30% of high-net-worth individuals utilize irrevocable trusts in their estate planning. This underscores the growing popularity of these trusts as a powerful tool for asset protection and wealth preservation.
Call to Action
Steve Bliss, thank you so much for sharing your expertise with us today. It’s clear that trusts play a crucial role in safeguarding one’s financial future. Viewers, if you’re looking to explore the benefits of trusts or need guidance on estate planning matters, don’t hesitate to reach out to San Diego Probate Law. Let their experienced team help you navigate the complexities and build a secure tomorrow.
Testimonials
“Steve Bliss and his team at San Diego Probate Law were invaluable during a difficult time. They handled my mother’s estate with sensitivity and professionalism, ensuring everything was settled smoothly and efficiently.”
– Mary S., San Diego
“I highly recommend Steve Bliss for any probate or trust matters. He is knowledgeable, responsive, and truly cares about his clients. I felt confident that my affairs were in good hands.”
– John D., La Jolla
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 disinherit my spouse using 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 |