Good morning, San Diego! Today, we’re joined by probate attorney Steve Bliss of San Diego Probate Law. Steve, thanks for taking the time to speak with us about estate planning.
Why is Estate Planning So Important?
Steve Bliss: It’s a pleasure to be here. Estate planning is crucial because it allows individuals to control what happens to their assets after they pass away. Without a proper plan, your assets will be distributed according to California intestacy laws, which may not align with your wishes.
Moreover, estate planning can help minimize estate taxes and avoid probate, a lengthy and costly legal process. Having a clear plan in place provides peace of mind for you and your loved ones.
What Types of Trusts Are Commonly Used in Estate Planning?
Steve Bliss: Several types of trusts are used in estate planning, each serving different purposes. Today, I want to focus on the Revocable Living Trust. It’s a popular choice because it offers flexibility and control.
With a revocable living trust, you, as the grantor, maintain complete control over your assets during your lifetime. You can buy, sell, or change beneficiaries as needed. The trust becomes irrevocable upon your death, ensuring your assets are distributed according to your wishes without going through probate.
What Are Some Challenges People Face When Setting Up a Revocable Living Trust?
Steve Bliss: One common challenge is procrastination. People often put off estate planning until it’s too late. I understand that thinking about death can be uncomfortable, but addressing it now saves your loved ones considerable stress and expense in the future.
Another potential hurdle is the misconception that trusts are only for wealthy individuals. This simply isn’t true. A revocable living trust can benefit anyone who wants to ensure their assets are protected and distributed according to their wishes, regardless of their financial status.
I recall a client, a single mother with modest means, who came to me after losing her husband unexpectedly. She had no will or trust in place. Because her assets were held solely in her name, probate was unavoidable. It took over a year and cost thousands of dollars, leaving her financially strained at a time when she needed support the most.
Had she established a revocable living trust beforehand, the process would have been streamlined, significantly reducing both time and expenses.
Can You Share Any Insights or Statistics About the Benefits of Revocable Living Trusts?
Steve Bliss: According to a 2021 study by Caring.com, nearly 70% of Americans don’t have a will or trust in place. This highlights the importance of estate planning and the potential consequences of inaction.
Furthermore, a revocable living trust can help avoid probate, saving your loved ones time and money. The average cost of probate in California is estimated to be between 3% to 7% of the estate’s value (source: LegalZoom).
How Can People Get Started with Estate Planning?
Steve Bliss: Contact San Diego Probate Law for a free consultation. We will guide you through the process and create a customized plan that meets your unique needs and goals.
Testimonials
“Steve Bliss and his team were incredibly helpful and compassionate during a difficult time. They made the probate process much easier to understand and navigate.”
– Maria S., San Diego
“I highly recommend San Diego Probate Law for all your estate planning needs. They are knowledgeable, professional, and truly care about their clients.”
– John T., 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: “How do I distribute trust assets to minors?” 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 Lawyer |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Trust Lawyer San Diego |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Trust Lawyer |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| San Diego Trust Lawyer |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Trust Lawyer San Diego |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Credible Trust Lawyer in San Diego |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |