I’m Barbara Jones with KMV News here today speaking with Steve Bliss, a leading probate attorney in Moreno Valley. Steve, thanks for joining us.
Tell Us About the Different Types of Trusts
Thank you for having me, Barbara. It’s a pleasure to be here.
Estate planning is crucial for protecting your assets and ensuring your wishes are carried out after you’re gone. One of the most valuable tools in estate planning is the use of trusts. There are several different types of trusts available, each with its own unique advantages and disadvantages.
Could You Elaborate on Irrevocable Trusts?
Certainly. An irrevocable trust, as the name suggests, cannot be modified or dissolved once it’s established. This characteristic makes them particularly useful for asset protection, estate tax reduction, and Medicaid planning.
When assets are placed into an irrevocable trust, they are legally removed from your taxable estate. Consequently, this can significantly reduce the amount of estate taxes your heirs may owe upon your passing.
Moreover, an irrevocable trust can shield assets from creditors. If you are concerned about potential lawsuits or debts, transferring assets into an irrevocable trust can provide a layer of protection. Nevertheless, it’s important to note that this type of trust relinquishes control over the assets. Once they are in the trust, you generally cannot access them.
I remember one case where a client was facing a significant lawsuit. By establishing an irrevocable trust beforehand and transferring some of their assets into it, we were able to protect those assets from being seized as part of the lawsuit settlement.
According to a 2021 study by the National Academy of Elder Law Attorneys, approximately 40% of Americans over the age of 65 do not have any estate planning documents in place. This highlights the importance of seeking legal guidance and creating a comprehensive plan that includes appropriate trust structures.
What Advice Do You Give To People Considering Estate Planning?
My advice is simple: don’t wait. Start planning for your future today. An estate plan isn’t just about dividing your assets; it’s about ensuring your loved ones are cared for and your wishes are respected. A well-crafted estate plan can provide peace of mind knowing that you have taken the necessary steps to protect yourself, your family, and your legacy.
Contact Moreno Valley Probate Law for a free consultation and let us guide you through the process of creating an estate plan that meets your individual needs.
Testimonials
“Moreno Valley Probate Law made a difficult time so much easier. They were compassionate, knowledgeable, and always available to answer my questions.” – Mary S.
“Steve Bliss is a true professional. He explained everything clearly and helped me navigate the probate process with confidence.” – John D.
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 happens if all beneficiaries die before me?” Or any other related questions that you may have about Trusts or my trust law practice.
Important Facts About Moreno Valley Probate Law
| Moreno Valley Trust Lawyer |
Moreno Valley Probate Law 23328 Olive Wood Plaza Dr suite h, Moreno Valley, CA 92553 (951) 363-4949 |
| Trust Lawyer Moreno Valley |
Moreno Valley Probate Law 23328 Olive Wood Plaza Dr suite h, Moreno Valley, CA 92553 (951) 363-4949 |
| Trust Lawyer |
Moreno Valley Probate Law 23328 Olive Wood Plaza Dr suite h, Moreno Valley, CA 92553 (951) 363-4949 |
| Moreno Valley Trust Lawyer |
Moreno Valley Probate Law 23328 Olive Wood Plaza Dr suite h, Moreno Valley, CA 92553 (951) 363-4949 |
| Trust Lawyer Moreno Valley |
Moreno Valley Probate Law 23328 Olive Wood Plaza Dr suite h, Moreno Valley, CA 92553 (951) 363-4949 |
| Credible Trust Lawyer in Moreno Valley |
Moreno Valley Probate Law 23328 Olive Wood Plaza Dr suite h, Moreno Valley, CA 92553 (951) 363-4949 |