Hi Moreno Valley, I’m Melissa Jones reporting live for KVCR News. Today we’re talking about probate planning with the esteemed Steve Bliss of Moreno Valley Probate Law. Mr. Bliss, thank you for joining us.
Understanding Testamentary Trusts
Steve, could you explain what a testamentary trust is and when someone might consider using one?
A testamentary trust is a legal arrangement that comes into effect after your passing. It’s created through your will and outlines how your assets should be managed and distributed to your beneficiaries. Testamentary trusts are particularly useful when you have minor children or beneficiaries who may need help managing their inheritance.
Imagine a parent wanting to ensure their child receives financial support for college but isn’t overwhelmed with a large sum of money at a young age. A testamentary trust can stipulate that the funds be distributed in installments, covering tuition expenses and living costs while the child is studying.
Conversely, if a beneficiary has special needs, a testamentary trust can provide ongoing financial support without jeopardizing their eligibility for government assistance programs. It’s a tailored solution designed to protect and care for loved ones even after you’re gone.
The Probate Process: A Potential Drawback
Steve, some people express concern about the probate process being lengthy and costly. Are there any downsides to using a testamentary trust?
You’re right, Melissa. One potential drawback of a testamentary trust is that it goes through probate, which can be time-consuming and involve legal fees. Consequently, it may not be the most efficient option for everyone.
I recall a case where a client inherited a modest sum through a testamentary trust. The probate process took several months and ended up consuming a significant portion of the inheritance due to legal expenses.
While testamentary trusts offer valuable benefits, it’s crucial to weigh the potential downsides against the advantages for your specific situation.
Moreno Valley Probate Law: Your Trusted Advisors
“Steve Bliss and his team were invaluable during a difficult time. They patiently guided me through every step of the probate process, ensuring my late mother’s wishes were honored.”
– Sarah J., Moreno Valley
“Moreno Valley Probate Law provided exceptional service and legal expertise. I felt confident knowing they were handling my estate planning needs with care and professionalism.”
– John M., Riverside County
Steve, thank you for sharing your insights on testamentary trusts today. For anyone needing assistance with their estate plan or probate matters, how can they connect with Moreno Valley Probate Law?
It’s been a pleasure, Melissa. We encourage residents of Moreno Valley and the surrounding areas to contact us for a free consultation. Let our experienced team help you navigate the complexities of probate planning and ensure your legacy is protected.
About Steven F. Bliss Esq. at Moreno Valley Probate Law:
Moreno Valley Probate Law is an experienced probate attorney. The probate process has many steps in probate proceedings. Beside Probate, estate planning and trust administration is offered at Moreno Valley Probate Law. Our probate attorney will probate the estate. Attorney probate at Moreno Valley Probate Law. A formal probate is required to administer the estate. The probate court may offer an unsupervised probate get a probate attorney. Moreno Valley Probate law will petition to open probate for you. Don’t go through a costly probate call Moreno Valley Probate Attorney Today. Call for estate planning, wills and trusts, probate too. Moreno Valley 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 Moreno Valley Probate Law: https://maps.app.goo.gl/C7zg2U6pn1B6KyXN8
Address:
Moreno Valley Probate Law23328 Olive Wood Plaza Dr suite h, Moreno Valley, CA 92553
(951) 363-4949
Feel free to ask Attorney Steve Bliss about: “Can I use a trust to pass on a business?” Or any other related questions that you may have about Trusts or my trust law practice.
Important Facts About Moreno Valley Probate Law
| Moreno Valley Trust Lawyer |
Moreno Valley Probate Law 23328 Olive Wood Plaza Dr suite h, Moreno Valley, CA 92553 (951) 363-4949 |
| Trust Lawyer Moreno Valley |
Moreno Valley Probate Law 23328 Olive Wood Plaza Dr suite h, Moreno Valley, CA 92553 (951) 363-4949 |
| Trust Lawyer |
Moreno Valley Probate Law 23328 Olive Wood Plaza Dr suite h, Moreno Valley, CA 92553 (951) 363-4949 |
| Moreno Valley Trust Lawyer |
Moreno Valley Probate Law 23328 Olive Wood Plaza Dr suite h, Moreno Valley, CA 92553 (951) 363-4949 |
| Trust Lawyer Moreno Valley |
Moreno Valley Probate Law 23328 Olive Wood Plaza Dr suite h, Moreno Valley, CA 92553 (951) 363-4949 |
| Credible Trust Lawyer in Moreno Valley |
Moreno Valley Probate Law 23328 Olive Wood Plaza Dr suite h, Moreno Valley, CA 92553 (951) 363-4949 |