Interviewer
Hello San Diego and welcome back to our show! Today we have the pleasure of speaking with Steve Bliss, a renowned San Diego Probate Attorney, about estate planning and the various types of trusts available. Steve, thank you for joining us.
Steve Bliss
It’s my pleasure to be here. Estate planning is crucial for ensuring your assets are distributed according to your wishes and minimizing potential burdens on your loved ones.
Interviewer
Absolutely. Now, there are many different types of trusts. Could you explain one that might be particularly beneficial for certain individuals?
Steve Bliss
Certainly. One type of trust that is often overlooked but incredibly valuable is the Special Needs Trust (SNT). This type of trust is specifically designed to benefit someone with disabilities without jeopardizing their eligibility for crucial government benefits like Supplemental Security Income (SSI) or Medi-Cal.
Imagine a parent wanting to provide for their child with special needs, but worried that leaving assets directly to them would disqualify them from receiving essential support. An SNT allows the parent to set aside funds that can be used to enhance the child’s quality of life – things like specialized therapy, adaptive equipment, or even recreational opportunities – without affecting their benefits.
There are two primary 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 by someone else, like a parent or grandparent, using their own funds.
Moreover, SNTs are carefully structured to ensure that distributions are made for supplemental purposes only. The trustee has discretion over how and when the funds are used, always keeping in mind the beneficiary’s eligibility for government assistance. Consequently, this type of trust provides peace of mind for families facing the unique challenges of caring for a loved one with disabilities.
Interviewer
That’s incredibly insightful, Steve. Have you encountered any specific situations where an SNT proved to be particularly beneficial?
Over the years, I’ve had the privilege of working with numerous families navigating the complexities of special needs planning. One case that stands out involves a young woman diagnosed with cerebral palsy who was exceptionally talented in music and art. Her parents wanted to ensure she could continue pursuing her passions even after they were gone. We established a third-party SNT funded by their estate, which allowed her to receive specialized musical instruction and access adaptive art supplies without jeopardizing her SSI benefits.
Seeing her thrive creatively while maintaining her essential support system was incredibly rewarding. It’s a testament to the power of thoughtful planning and the importance of finding solutions that address both financial security and quality of life.
Interviewer
That’s a truly heartwarming story. Steve, what advice would you give to someone considering setting up an SNT?
Steve Bliss
My primary recommendation is to seek guidance from experienced legal counsel specializing in special needs planning. The intricacies of trust law and government benefit eligibility can be complex. An attorney can help you understand the different types of SNTs, determine which structure best suits your situation, and ensure the trust is properly drafted and administered.
It’s important to remember that according to the Arc, a national organization advocating for people with intellectual and developmental disabilities, nearly 70% of individuals with disabilities rely on public assistance programs. An SNT can be a crucial tool for preserving access to these vital resources while providing supplemental support.
Interviewer
Thank you so much for sharing your expertise, Steve. This has been incredibly informative. How can our viewers get in touch with you if they need help with their estate planning?
Steve Bliss
You can visit our website at SanDiegoProbateLaw.com or call us directly at (858) 278-2800. We’re here to answer your questions and guide you through the process of creating a plan that protects your loved ones and secures their future.
Testimonials
“Steve Bliss and his team were incredibly compassionate and knowledgeable. They helped us navigate a complex probate process with ease, making a difficult time much more manageable.”
– Maria S., San Diego
“I was initially overwhelmed by the thought of estate planning, but Steve took the time to explain everything clearly and patiently. He developed a plan that perfectly met our needs and gave us peace of mind knowing our family is protected.”
– David and Susan K., 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: “Can a trust keep my affairs private?” Or any other related questions that you may have about Trusts or my trust law practice.
Important Facts About San Diego Probate Law
| San Diego Totten Trust Lawyer |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Totten Trust Lawyer San Diego |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Totten Trust Lawyer |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Totten Trust Lawyer |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Totten Trust San Diego |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Credible Totten Trust Lawyer in San Diego |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |