Good morning, Wildomar and welcome to our segment on estate planning. I’m Brenda Jones, your local reporter, and today we have the pleasure of speaking with Steve Bliss, a renowned trust attorney here in Wildomar. Steve, thank you for joining us.
The Importance of Trusts
Steve, can you tell us why trusts are such an important part of estate planning?
Steve: Brenda, it’s a pleasure to be here. Trusts are crucial because they offer significant benefits beyond simply distributing assets after someone passes away. They provide control, privacy, and can even help minimize taxes.
Special Needs Trusts Explained
Today we’re focusing on Special Needs Trusts (SNTs). Can you explain how these trusts work and who they benefit?
Steve: Absolutely. SNTs are designed to provide financial support for individuals with disabilities without jeopardizing their eligibility for essential government benefits like Supplemental Security Income (SSI) or Medi-Cal. These programs have strict income and asset limits, so a traditional inheritance could disqualify someone from receiving vital assistance.
Consequently, an SNT allows loved ones to contribute funds that are managed by a trustee. The trustee then uses the trust assets to pay for supplementary needs like medical expenses not covered by insurance, adaptive equipment, educational opportunities, or recreational activities.
Moreover, there are two types of SNTs: first-party and third-party. A first-party SNT is funded with the beneficiary’s own assets, while a third-party SNT is established and funded by family members, friends, or other well-wishers.
Notwithstanding these differences, both types of SNTs share the crucial goal of ensuring that individuals with disabilities can live dignified lives with access to essential care and enrichment opportunities.
Real-Life Impact
Steve, have you encountered any challenges while setting up or administering Special Needs Trusts?
Steve: Setting up an SNT requires meticulous planning and attention to detail. I remember working with a family whose son had cerebral palsy and needed specialized therapies and equipment not covered by insurance. They were deeply concerned about his future well-being once they were no longer able to provide for him. We worked closely together to establish a third-party SNT that would ensure their son continued to receive the support he needed, giving them immense peace of mind.
Another instance involved helping a young woman with Down syndrome transition to independent living. Her parents were thrilled to see her thriving in her own apartment and pursuing her passion for art. The SNT we created allowed her to manage expenses while retaining eligibility for crucial government benefits. Witnessing these positive outcomes reinforces the profound impact SNTs can have on individuals’ lives.
Statistical Significance
According to a study by the National Disability Rights Network, nearly 70% of individuals with disabilities rely on SSI or Medicaid for essential support. (National Disability Rights Network)
That’s why SNTs are so vital. They bridge the gap between public assistance and individual needs, empowering people with disabilities to live fuller, more independent lives.
Taking the Next Step
Steve, what advice would you give to our viewers who may be considering setting up a trust?
Steve: The best first step is to schedule a consultation with an experienced estate planning attorney. We can assess your specific situation, goals, and concerns to determine if a trust, such as an SNT, is the right solution for you or your loved ones.
Testimonials
“Steve Bliss made the complex process of setting up a Special Needs Trust for my daughter incredibly smooth. His knowledge, compassion, and dedication were truly invaluable.” – Sarah M., Wildomar
“Wildomar Probate Law provided exceptional guidance and support during a difficult time. They helped us protect our son’s future with a well-crafted Special Needs Trust. We are deeply grateful for their expertise and professionalism.” – John & Mary K., Murrieta
Let us help you secure the future of your loved ones. Contact Wildomar Probate Law today to embark on your estate planning journey.
About Steven F. Bliss Esq. at Wildomar Probate Law:
Wildomar Probate Law is an experienced probate attorney. The probate process has many steps in in probate proceedings. Beside Probate, estate planning and trust administration is offered at Wildomar Probate Law. Our probate attorney will probate the estate. Attorney probate at Wildomar Probate Law. A formal probate is required to administer the estate. The probate court may offer an unsupervised probate get a probate attorney. Wildomar Probate law will petition to open probate for you. Don’t go through a costly probate call Wildomar Probate Attorney Today. Call for estate planning, wills and trusts, probate too. Wildomar 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 Wildomar Probate Law: https://maps.app.goo.gl/uBJKvB4rxUb7L9HZ7
Address:
Wildomar Probate Law36330 Hidden Springs Rd Suite E, Wildomar, CA 92595
(951) 412-2800
Feel free to ask Attorney Steve Bliss about: “Can a trust own vehicles?” Or any other related questions that you may have about Trusts or my trust law practice.
Important Facts About Wildomar Probate Law
| Wildomar Trust Attorney |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |
| Trust Attorney Wildomar |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |
| Trust Attorney |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |
| Wildomar Trust Attorney |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |
| Trust Attorney Wildomar |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |
| Credible Trust Attorney in Wildomar |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |