San Diego Probate Attorney Explains the Benefits of a Revocable Living Trust
Hi everyone, I’m Brenda Thompson with Channel 8 News, and today we’re speaking with local probate attorney Steve Bliss about estate planning. Steve, thanks for joining us.
It’s great to be here, Brenda.
Why Choose a Revocable Living Trust?
Steve, could you explain why someone might choose a revocable living trust as part of their estate plan?
Absolutely. A revocable living trust is one of the most popular estate planning tools for a reason. It offers several key advantages.
Firstly, it allows you to maintain control over your assets during your lifetime. You can add or remove assets from the trust, change beneficiaries, and even dissolve the trust entirely if your circumstances change. Consequently, it provides flexibility that a traditional will doesn’t offer.
Moreover, a revocable living trust avoids probate, which can be a lengthy and expensive court process. Your assets pass directly to your beneficiaries according to the terms of the trust, saving your loved ones time, stress, and potentially significant legal fees.
Lastly, a revocable living trust offers a degree of privacy that a will lacks. Because it’s not a public document, the details of your estate plan remain confidential. This can be especially important for individuals who value their privacy or have complex family situations.
Challenges and Solutions
Steve, are there any common challenges you encounter when helping clients set up revocable living trusts?
There are a few things to keep in mind. One thing that often comes up is making sure all assets are properly titled in the name of the trust. If an asset is left out, it will still have to go through probate. It’s crucial to work with an experienced attorney who can guide you through the process and ensure everything is done correctly.
I remember one client who thought he had transferred all his assets into the trust but overlooked a bank account. When he passed away, that account had to go through probate, which caused unnecessary delay and expense for his family. Thankfully, we were able to resolve the issue, but it highlighted the importance of meticulous attention to detail.
Studies show that over 70% of Americans don’t have a will or trust in place (American Bar Association). This means their assets are subject to intestate succession laws, which can result in unintended consequences and family disputes. A properly drafted revocable living trust can help you avoid these pitfalls.
Moving Forward
Steve, any final thoughts for our viewers?
Estate planning is essential for everyone, regardless of your age or financial situation. A revocable living trust can be a powerful tool to protect your loved ones and ensure your wishes are carried out.
“San Diego Probate Law provided invaluable guidance during a difficult time. Their compassionate approach and expertise made the process much easier to navigate.” – Mary S.
“I was impressed by Steve Bliss’s knowledge and professionalism. He explained everything clearly and helped me create an estate plan that met my unique needs.” – John D.
Contact San Diego Probate Law today and let us help you create a secure future for your family.
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 a special needs trust?” Or any other related questions that you may have about Trusts or my trust law practice.
Important Facts About San Diego Probate Law
| Special Needs Trust | Totten Trust | Asset Protection Trust |
| Spendthrift Trust | Constructive Trust | Irrevocable Trust |
| Tax By-Pass Trust | Charitable Trust | Living Trust |