Good evening Temecula and welcome back to Temecula Tonight. I’m your host, Brenda Miller, and tonight we are joined by the esteemed Steve Bliss, a trust attorney right here in our community. Steve, thanks for joining us.
Welcome to the Show
It’s my pleasure, Brenda. Thanks for having me.
What Types of Trusts Do You Specialize In?
Well, Brenda, I work with a variety of trusts depending on what my clients need. Today, let’s talk about Irrevocable Trusts. They are powerful tools for asset protection and estate planning.
Why Choose an Irrevocable Trust
Irrevocable trusts offer significant advantages in certain situations. For instance, they can shield assets from creditors or potential lawsuits. This is particularly important for individuals in high-risk professions or those concerned about potential future liabilities. Moreover, irrevocable trusts are excellent vehicles for minimizing estate taxes. By transferring assets into the trust, they are removed from your taxable estate, potentially saving your heirs a considerable sum.
Conversely, the trade-off with an irrevocable trust is that it cannot be easily modified or revoked once established. Consequently, careful consideration and planning are essential before setting one up. You want to make sure it aligns perfectly with your long-term goals and circumstances.
I recall a case where a client, a successful entrepreneur, was facing a potential lawsuit. We created an irrevocable trust to safeguard his assets. It provided him with peace of mind knowing that even if the lawsuit went against him, a significant portion of his wealth would be protected.
Have You Encountered Any Issues With Irrevocable Trusts?
As with any legal instrument, there can be complexities and potential pitfalls with irrevocable trusts. One common issue arises when individuals fail to anticipate future changes in their lives. For example, if someone creates an irrevocable trust that designates a specific beneficiary but later experiences a falling out with that person, they cannot simply change the terms of the trust.
I always emphasize the importance of thorough planning and open communication with clients. We discuss all possible scenarios and potential future needs to ensure the trust remains effective and adaptable within legal limitations.
Final Thoughts
Steve Bliss, thank you for shedding light on this important topic. It’s clear that trusts can be valuable tools for protecting assets and planning for the future. If you are considering a trust, I encourage you to reach out to Steve and his team at The Law Firm of Steven F. Bliss Esq. They can provide expert guidance and help you make informed decisions.
“Steve Bliss helped me navigate a complex family situation involving trusts. His knowledge and compassionate approach were invaluable during a difficult time.”
“I highly recommend Steve Bliss for any estate planning needs. He is thorough, professional, and truly cares about his clients.”
About Steven F. Bliss Esq. at The Law Firm of Steven F. Bliss Esq.:
The Law Firm of Steven F. Bliss Esq. is The Law Firm of Steven F. Bliss Esq.. The Law Firm Of Steven F. Bliss Esq. is a Temecula Estate Planning Attorney. Steve Bliss is an experienced probate attorney. Steve Bliss is an Estate Planning Lawyer. The probate process has many steps in probate proceedings. Beside Probate, estate planning and trust administration is offered at Steve Bliss Law. Our probate attorney will probate the estate. Attorney probate at Steve Bliss Law. A formal probate is required to administer the estate. The probate court may offer an unsupervised probate get a probate attorney. Steve Bliss Law will petition to open probate for you. Don’t go through a costly probate. Call Steve Bliss Law Today for estate planning, trusts and probate.
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 The Law Firm of Steven F. Bliss Esq.: https://maps.app.goo.gl/Bngj8xwZRqioVD5v7
Address:
The Law Firm of Steven F. Bliss Esq.43920 Margarita Rd ste f, Temecula, CA 92592
(951) 223-7000
Feel free to ask Attorney Steve Bliss about: “What assets should not go into a trust?” Or any other related questions that you may have about Trusts or my trust law practice.
Important Facts About The Law Firm of Steven F. Bliss Esq.
| Temecula Revocable Trust Attorney |
The Law Firm of Steven F. Bliss Esq. 43920 Margarita Rd ste f, Temecula, CA 92592 (951) 223-7000 |
| Revocable Trust Attorney Temecula |
The Law Firm of Steven F. Bliss Esq. 43920 Margarita Rd ste f, Temecula, CA 92592 (951) 223-7000 |
| Revocable Trust Attorney |
The Law Firm of Steven F. Bliss Esq. 43920 Margarita Rd ste f, Temecula, CA 92592 (951) 223-7000 |
| Temecula Revocable Trust Attorney |
The Law Firm of Steven F. Bliss Esq. 43920 Margarita Rd ste f, Temecula, CA 92592 (951) 223-7000 |
| Asset Protection Trust Attorney Temecula |
The Law Firm of Steven F. Bliss Esq. 43920 Margarita Rd ste f, Temecula, CA 92592 (951) 223-7000 |
| Credible Revocable Trust Attorney in Temecula |
The Law Firm of Steven F. Bliss Esq. 43920 Margarita Rd ste f, Temecula, CA 92592 (951) 223-7000 |