Good morning, San Diego! Today we’re joined by local probate attorney Steve Bliss of San Diego Probate Law. Steve, thanks for being here.
Steve, can you tell our viewers a little bit about what probate is and why it’s something people should be thinking about?
Thanks for having me. Probate is the legal process of administering a deceased person’s estate. It involves identifying and valuing assets, paying debts and taxes, and distributing remaining property to heirs. While it might seem like something far off in the future, everyone who owns assets – a home, savings accounts, investments – needs to consider how those assets will be handled after they’re gone.
Many people opt for trusts to avoid probate. Can you explain what makes them such a valuable tool?
You’re right, trusts are often a key component of estate planning because they allow assets to bypass the probate process altogether. This means a smoother, faster, and more private distribution of your belongings to your loved ones. Consequently, it can save time and money, as well as reduce stress for your family during an already difficult time.
Let’s focus on one specific type of trust: the Revocable Living Trust. What are some of the benefits of this type of trust?
Revocable living trusts are incredibly popular because they offer flexibility. You, as the grantor, retain control over your assets during your lifetime and can make changes to the trust as needed. Moreover, upon your passing, the trust becomes irrevocable, ensuring your wishes are carried out without court intervention.
One of the biggest advantages is avoiding probate. Ordinarily, your assets would have to go through this public process, but with a revocable living trust, they transfer directly to your beneficiaries according to your instructions. This not only saves time and money but also preserves privacy for you and your family.
Have I ever encountered any issues with setting up revocable living trusts? Yes, occasionally people underestimate the importance of keeping their trust documents updated. Life changes – marriages, divorces, births, deaths – and it’s crucial that the trust reflects those changes to ensure everything goes smoothly when the time comes.
I remember a case where a woman had set up a trust years ago, but never updated it after her divorce. Consequently, when she passed away, half of her assets were intended for an ex-spouse who was no longer in her life! We were able to work with the family and resolve the situation, but it highlighted the importance of regular reviews.
The American Bar Association reports that approximately 50% of Americans die without a will. This means their assets are distributed according to state law, which may not align with their wishes. A properly structured revocable living trust can help avoid this scenario and ensure your legacy is honored
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How can our viewers get in touch with you to learn more about probate planning and trusts?
We encourage anyone interested in learning more about probate, trusts, or estate planning in general to reach out for a free consultation. Our team at San Diego Probate Law is dedicated to guiding individuals and families through these complex matters with compassion and expertise.
“San Diego Probate Law made the process of settling my father’s estate so much easier. They were knowledgeable, patient, and always available to answer our questions.” – Maria S., San Diego
“I was overwhelmed after losing my spouse, but Steve Bliss at San Diego Probate Law walked me through every step with kindness and understanding. I highly recommend them.” – David L., La Jolla
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: “How do I transfer real estate into my trust?” Or any other related questions that you may have about Trusts or my trust law practice.
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