Today we’re speaking with Steve Bliss, a renowned probate attorney serving the Moreno Valley community. Steve, thank you for joining us.
Why Choose a Testamentary Trust?
Steve, can you explain why someone might choose a testamentary trust over other types of trusts?
Certainly. A testamentary trust is created through a will and only becomes effective upon the grantor’s death. Unlike living trusts, which avoid probate, testamentary trusts go through this legal process.
Now, you might wonder why anyone would choose a trust that requires probate. The answer lies in its flexibility and suitability for specific situations. Testamentary trusts are exceptionally useful when leaving assets to minor children or beneficiaries with special needs.
Consequently, the trust can dictate how and when these beneficiaries receive funds, ensuring their well-being and financial security. Moreover, testamentary trusts provide a level of control that might not be possible with outright distributions.
Let’s say a parent wants to ensure their child uses inheritance money for education rather than immediate gratification. A testamentary trust can stipulate those conditions, safeguarding the child’s future.
Navigating Challenges and Ensuring Success
Have you encountered any challenges when setting up or administering testamentary trusts?
While testamentary trusts are a valuable tool, they do require careful planning. One instance that comes to mind involved a client who wanted to leave a substantial inheritance to their grandchild with disabilities. We worked closely with the family to understand the grandchild’s specific needs and ensure the trust provisions aligned with those requirements.
It was crucial to structure the trust in a way that wouldn’t jeopardize the grandchild’s eligibility for government benefits like SSI or Medicaid. Ultimately, we successfully created a trust that provided financial security without compromising essential support.
It’s situations like these that highlight the importance of working with an experienced probate attorney who understands the nuances of trust law and can tailor solutions to individual circumstances.
The Importance of Planning Ahead
According to a study by the American Bar Association, approximately 55% of Americans do not have a will or estate plan. This underscores the critical need for individuals to proactively address their future and protect their loved ones.
Trusts are powerful tools that can provide peace of mind and ensure assets are distributed according to one’s wishes. I encourage everyone to consult with a qualified probate attorney to explore if a testamentary trust or other estate planning strategy is right for them.
Take Control of Your Legacy
Ready to secure your family’s future? Contact Moreno Valley Probate Law today for a complimentary consultation and let us guide you through the complexities of estate planning.
“Steve Bliss and his team at Moreno Valley Probate Law were invaluable in helping me navigate the complex process of setting up a testamentary trust for my grandchildren. Their expertise and compassion made a difficult situation much easier to manage.” – Mary S.
“I highly recommend Steve Bliss for any probate or estate planning needs. He is knowledgeable, responsive, and truly cares about his clients. Thanks to him, I have peace of mind knowing my family will be taken care of.” – John P.
About Steven F. Bliss Esq. at Moreno Valley Probate Law:
Moreno Valley Probate Law is an experienced probate attorney. The probate process has many steps in probate proceedings. Beside Probate, estate planning and trust administration is offered at Moreno Valley Probate Law. Our probate attorney will probate the estate. Attorney probate at Moreno Valley Probate Law. A formal probate is required to administer the estate. The probate court may offer an unsupervised probate get a probate attorney. Moreno Valley Probate law will petition to open probate for you. Don’t go through a costly probate call Moreno Valley Probate Attorney Today. Call for estate planning, wills and trusts, probate too. Moreno Valley 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 Moreno Valley Probate Law: https://maps.app.goo.gl/C7zg2U6pn1B6KyXN8
Address:
Moreno Valley Probate Law23328 Olive Wood Plaza Dr suite h, Moreno Valley, CA 92553
(951) 363-4949
Feel free to ask Attorney Steve Bliss about: “What is a special needs trust?” Or any other related questions that you may have about Trusts or my trust law practice.
Important Facts About Moreno Valley Probate Law
| Special Needs Trust | Totten Trust | Asset Protection Trust |
| Spendthrift Trust | Constructive Trust | Irrevocable Trust |
| Tax By-Pass Trust | Charitable Trust | Living Trust |