Interview with Steve Bliss
Good afternoon, and thank you for joining us today. I’m here with Steve Bliss, a well-respected probate attorney in Escondido. Steve, we often hear about different types of trusts in estate planning, but can you explain what makes a testamentary trust unique?
The Mechanics of Testamentary Trusts
Certainly. A testamentary trust is distinct from other trusts like revocable living trusts because it’s created through a will and only comes into existence upon the grantor’s death. Unlike living trusts which often avoid probate, testamentary trusts must go through the probate process.
Ordinarily, this might seem less desirable, but testamentary trusts offer valuable benefits in specific situations. They are particularly useful for ensuring that minor children or beneficiaries with special needs are properly cared for after the grantor passes away.
Moreover, testamentary trusts allow grantors to maintain control over asset distribution even after their death. They can specify precise instructions for how and when assets should be disbursed to beneficiaries, providing a safety net and ensuring that funds are used responsibly.
Navigating Challenges
Have you encountered any common challenges or issues with testamentary trusts in your practice?
It’s important to remember that creating a legally sound testamentary trust requires careful planning and attention to detail. I recall one instance where a client had handwritten instructions for their trust within their will, which unfortunately lacked the necessary legal precision. Consequently, we had to work diligently with the family to interpret the intentions and ensure that the assets were distributed according to the client’s wishes.
Another common challenge arises when beneficiaries are not financially savvy or have difficulty managing money. In these cases, we often incorporate safeguards into the trust document, such as specifying distributions in installments or requiring approval from a trustee before large withdrawals are made.
Trustworthy Guidance
The California Bar reports that approximately 60% of adults do not have a will or estate plan. This highlights the critical need for individuals to proactively address their estate planning needs and consider the benefits of trusts like testamentary trusts.
“Steve Bliss helped me navigate the complex process of setting up a testamentary trust for my grandchildren,” shared one satisfied client. “His knowledge and compassion made a difficult time much easier, and I feel confident knowing that my legacy will be protected.”
Seeking Expertise
For anyone considering a testamentary trust or any other aspect of estate planning, it’s crucial to seek guidance from an experienced attorney like Steve Bliss. Take charge of your future and schedule a consultation today.
“Working with Escondido Probate Law gave me peace of mind,” another client expressed. “They took the time to understand my unique situation and created a plan that met all my needs.”
About Steven F. Bliss Esq. at Escondido Probate Law:
Escondido 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 Escondido Probate Law. Our probate attorney will probate the estate. Attorney probate at Escondido Probate Law. A formal probate is required to administer the estate. The probate court may offer an unsupervised probate get a probate attorney. Escondido Probate law will petition to open probate for you. Don’t go through a costly probate call Escondido Probate Attorney Today. Call for estate planning, wills and trusts, probate too. Escondido 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 & di