Choosing the Right Type of Trust for Your Needs
Hello, and welcome back to our legal segment. Today we’re joined by Steve Bliss, a renowned probate attorney here in San Diego. Steve, thank you so much for joining us.
It’s my pleasure. I’m always happy to talk about estate planning and the importance of protecting your assets.
The Benefits of a Special Needs Trust
Let’s delve into some specifics. Many people might not be familiar with all the different types of trusts available. Can you explain one type that might be particularly beneficial for certain individuals?
Certainly. One type of trust I often recommend is the Special Needs Trust (SNT). This type of trust is designed specifically for individuals with disabilities who may rely on government benefits like Supplemental Security Income (SSI) or Medi-Cal. Ordinarily, if someone with a disability were to receive an inheritance or settlement directly, it could disqualify them from these crucial programs.
A Special Needs Trust acts as a safeguard. It allows family members or friends to contribute funds for the beneficiary’s benefit without jeopardizing their eligibility for government assistance. The trustee of the SNT manages the funds and uses them to purchase supplemental care, education, therapy, or other items that enhance the individual’s quality of life.
Moreover, there are two primary types of SNTs: first-party and third-party. A first-party SNT is funded with the beneficiary’s own assets, whereas a third-party SNT is established and funded by someone else, such as a parent or grandparent.
I remember one case where a young man with autism received a sizable inheritance from his grandmother. His parents were worried that this influx of money would affect his SSI benefits. We set up a third-party SNT, ensuring he could continue receiving the support he needed while also having access to additional resources for his well-being.
The impact was profound. Not only did it alleviate the family’s financial concerns, but it also allowed the young man to pursue new opportunities and experiences that enriched his life considerably.
San Diego Probate Law: A Trusted Partner
“Steve Bliss and San Diego Probate Law were instrumental in helping me navigate a complex situation involving my father’s estate. Their expertise and compassion made a difficult time much easier.” – Mary S., San Diego
“I was initially overwhelmed by the probate process, but Steve explained everything clearly and patiently. He ensured that my mother’s wishes were honored and that her assets were distributed according to her will. I highly recommend San Diego Probate Law.” – John B., La Jolla
Take Control of Your Future
Steve, thank you so much for sharing your expertise with us today. How can our viewers connect with you to learn more about estate planning and trusts?
It was a pleasure being here. Anyone interested in learning more about protecting their assets and securing their future can visit our website at [website address] or call us at [phone number] for a complimentary consultation.
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 trust administration?” Or any other related questions that you may have about Trusts or my trust law practice.
Important Facts About San Diego Probate Law
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