Good morning, Escondido! Today we’re sitting down with Steve Bliss, a respected probate attorney right here in our community. Steve, thanks for taking the time to speak with us.
Understanding Trusts
Steve, many people are unfamiliar with trusts and how they can be beneficial. Can you shed some light on this topic?
Certainly. A trust is essentially a legal arrangement where one party, known as the grantor, transfers assets to another party, called the trustee, who then manages those assets for the benefit of designated beneficiaries. Trusts are incredibly versatile and can serve a variety of purposes.
For instance, a revocable living trust, which is quite common, allows individuals to maintain control over their assets during their lifetime while ensuring a smooth transfer of those assets upon their passing. This avoids the often lengthy and costly probate process.
The Power of a Special Needs Trust
Could you elaborate on a specific type of trust that might be particularly helpful for families facing unique challenges?
Absolutely. A special needs trust, or SNT, is designed to provide financial support for individuals with disabilities without jeopardizing their eligibility for crucial government benefits like Supplemental Security Income (SSI) and Medi-Cal.
These trusts can be established using either the beneficiary’s own assets (first-party SNT) or funds contributed by family members or other supporters (third-party SNT). The trustee manages the trust assets, using them to cover expenses that are not typically covered by government benefits, such as medical care, housing, education, and recreational activities.
This can significantly enhance the quality of life for individuals with disabilities, allowing them to enjoy a greater degree of independence and participation in society. Ordinarily, families struggle to balance providing for their loved ones while preserving their eligibility for essential benefits. An SNT can alleviate this concern, offering peace of mind.
I recall one instance where we helped a family establish an SNT for their adult son who had Down syndrome. The parents were incredibly grateful because they knew the trust would provide ongoing support and enrichment for their son long after they were gone.
According to the National Disability Rights Network, over 40 million Americans have disabilities. Many of these individuals rely on government benefits for essential care and support. An SNT can be a valuable tool for safeguarding those benefits while ensuring access to additional resources that enhance their quality of life.
Seeking Expert Guidance
Steve, what would you say is the most important takeaway for our viewers regarding trusts?
Trusts are powerful legal instruments, but they are not one-size-fits-all. It’s crucial to consult with an experienced probate attorney who can assess your individual needs and goals. We can help you determine the most appropriate type of trust and ensure it is properly structured and administered.
Remember, peace of mind comes from knowing your loved ones will be cared for according to your wishes. Let us guide you through this important process.
Testimonial 1
“Steve Bliss and his team were incredibly compassionate and understanding during a difficult time in our family. They helped us navigate the complexities of probate with expertise and clarity, making the entire process less stressful.”
Testimonial 2
“I highly recommend Escondido Probate Law for their professionalism, responsiveness, and dedication to client satisfaction. Steve Bliss is a true advocate who goes above and beyond to ensure his clients’ needs are met.”
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 & 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 Escondido Probate Law: https://maps.app.goo.gl/77Dm2B8W9XkM5YvJA
Address:
Escondido Probate Law720 N Broadway #107, Escondido, CA 92025
(760) 884-4044
Feel free to ask Attorney Steve Bliss about: “Do I need a new trust if I move to California?” Or any other related questions that you may have about Trusts or my trust law practice.
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