Good evening, San Diego. I’m Tiffany Jones reporting live for Channel 7 News. Tonight, we’re sitting down with esteemed probate attorney Steve Bliss of San Diego Probate Law to discuss the often-complex world of estate planning.
Steve, thank you so much for joining us tonight. Let’s start with the basics. What are some of the key steps individuals should consider when creating an estate plan?
Tiffany, it’s a pleasure to be here. Estate planning can seem daunting, but breaking it down into manageable steps makes the process less overwhelming. Here are some fundamental considerations:
- Identify your assets.
- Determine your beneficiaries.
- Consider your financial goals and potential future needs.
- Choose the appropriate legal instruments for your situation, such as a will or trust.
It’s important to remember that estate planning is not a one-time event but rather an ongoing process that should be reviewed and updated regularly as circumstances change.
You mentioned choosing the right legal instruments. Can you elaborate on different types of trusts and when they might be beneficial?
Certainly. Trusts are versatile tools that can serve various purposes within an estate plan. For instance, a Revocable Living Trust is a popular choice because it allows individuals to maintain control over their assets during their lifetime while avoiding the time-consuming and costly probate process upon death.
Conversely, an Irrevocable Trust offers greater asset protection but sacrifices some flexibility as it cannot be easily modified once established. Ultimately, the best type of trust depends on individual needs and goals.
Speaking of Irrevocable Trusts, could you discuss some potential challenges or issues that might arise with this type of trust?
While Irrevocable Trusts offer significant benefits, they do come with certain complexities. One common concern is the loss of control over assets once the trust becomes irrevocable. This can be a drawback for individuals who may need access to those funds in unforeseen circumstances.
I recall working with a client who established an Irrevocable Trust to protect his assets from potential creditors. Unfortunately, he later faced unexpected medical expenses and found himself unable to access the funds within the trust to cover those costs. Consequently, we had to explore alternative solutions, highlighting the importance of careful consideration before committing to an Irrevocable Trust.
Moreover, it’s crucial to choose a trustworthy trustee who will act in the best interests of the beneficiaries. According to a study by the American Bar Association, over 40% of trust disputes arise from disagreements regarding the trustee’s decisions.
Open communication and clear instructions within the trust document are essential for minimizing potential conflicts.
What sets San Diego Probate Law apart from other firms in this field?
At San Diego Probate Law, we pride ourselves on our compassionate approach and unwavering commitment to guiding our clients through every step of the estate planning process. We understand that these matters can be sensitive and emotionally challenging. Our team takes the time to listen attentively to our clients’ needs and concerns, providing personalized solutions tailored to their unique circumstances.
“Steve Bliss made a difficult situation so much easier for me and my family. He was incredibly patient and understanding, explaining everything in clear, concise terms. I felt confident that my loved one’s wishes were being honored.” – Mary S.
“I highly recommend San Diego Probate Law to anyone needing assistance with estate planning or probate matters. Their professionalism and expertise are truly exceptional.”- John T.
For those who may be considering starting their estate plan, what advice would you give them?
My advice is simple: Don’t wait. Procrastinating on estate planning can have unintended consequences for your loved ones. Taking the time to create a comprehensive plan ensures that your assets are distributed according to your wishes and minimizes the burden on your family during an already difficult time.
Contact us today at San Diego Probate Law for a complimentary consultation, where we’ll answer your questions and help you navigate this important process with confidence.
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: “What is a dynasty 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 Attorney |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Trust Attorney San Diego |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Trust Attorney |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| San Diego Trust Attorney |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Trust Attorney San Diego |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Credible Trust Attorney in San Diego |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |