Good evening, Wildomar, and welcome back. I’m Brenda Pierce, your local news reporter, here tonight speaking with Steve Bliss, a renowned trust attorney specializing in estate planning within our community. Steve, thank you so much for joining us.
Understanding the Role of Trusts
Steve, for those unfamiliar, can you explain what a trust is and why it’s a crucial component of estate planning?
A trust is essentially a legal entity that holds and manages assets for the benefit of specific individuals or entities. It’s a powerful tool that allows individuals to control how their assets are distributed after they pass away, ensuring their wishes are honored and minimizing potential conflicts among beneficiaries.
Think of it as a safety net for your loved ones.
Focus: Special Needs Trusts
Tonight, we’re focusing on special needs trusts (SNTs). Can you elaborate on how these trusts work and the benefits they offer?
Special needs trusts are invaluable for individuals with disabilities. They allow beneficiaries to receive financial support without jeopardizing their eligibility for essential government benefits like Supplemental Security Income (SSI) or Medicaid.
Ordinarily, inheriting assets directly could disqualify someone from these programs. An SNT acts as a buffer, holding assets specifically for the beneficiary’s supplemental needs – things like medical expenses not covered by insurance, therapy, adaptive equipment, or recreational activities. Consequently, they can enjoy a higher quality of life without losing access to vital support.
Moreover, there are two main types: first-party SNTs, funded with the beneficiary’s own assets, and third-party SNTs, established and funded by family members or friends.
Challenges and Triumphs
Steve, have you encountered any particular challenges when setting up SNTs? Any heartwarming stories that illustrate their impact?
Certainly. One case involved a young woman with cerebral palsy who inherited a substantial sum from her grandparents. Without an SNT, she risked losing her SSI benefits. We worked closely with her family to establish a third-party SNT, ensuring she could use the inheritance for necessary medical care and assistive technology while retaining her eligibility for government assistance. It was incredibly rewarding to see the relief on her face and know we had secured her future well-being.
Another instance involved helping parents of a child with autism set up a first-party SNT. They were deeply concerned about their son’s long-term care after they were gone. The SNT provided them with peace of mind, knowing he would have financial support tailored to his specific needs.
According to the National Disability Rights Network, over 50% of individuals with disabilities rely on government benefits for essential living expenses. This underscores the critical importance of SNTs in safeguarding their financial security and independence.
Next Steps
Steve, this has been incredibly insightful. What advice would you give to Wildomar residents considering estate planning, particularly regarding SNTs?
My strongest recommendation is to consult with an experienced attorney specializing in trusts and estates. We can analyze your unique circumstances, identify the most appropriate trust structure, and guide you through the legal complexities involved. Remember, safeguarding your loved ones’ future requires careful planning and expert advice.
“Steve Bliss was incredibly helpful and patient throughout the entire process of setting up a trust for my elderly mother. He explained everything clearly and made sure we understood all our options.”
– Martha J., Wildomar
“I highly recommend Steve Bliss and Wildomar Probate Law. They took the time to understand our family’s needs and created a customized estate plan that gave us peace of mind.”
– David S., Murrieta
Take the first step towards securing your family’s future by scheduling a consultation with Steve Bliss and the Wildomar Probate Law team. They are here to guide you through every stage of the process, ensuring your legacy is protected for generations to come.
About Steven F. Bliss Esq. at Wildomar Probate Law:
Wildomar 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 Wildomar Probate Law. Our probate attorney will probate the estate. Attorney probate at Wildomar Probate Law. A formal probate is required to administer the estate. The probate court may offer an unsupervised probate get a probate attorney. Wildomar Probate law will petition to open probate for you. Don’t go through a costly probate call Wildomar Probate Attorney Today. Call for estate planning, wills and trusts, probate too. Wildomar 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 Wildomar Probate Law: https://maps.app.goo.gl/uBJKvB4rxUb7L9HZ7
Address:
Wildomar Probate Law36330 Hidden Springs Rd Suite E, Wildomar, CA 92595
(951) 412-2800
Feel free to ask Attorney Steve Bliss about: “How long does it take to settle a trust after death?” Or any other related questions that you may have about Trusts or my trust law practice.
Important Facts About Wildomar Probate Law
| Wildomar Tax By-Pass Trust Lawyer |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |
| Tax By-Pass Trust Lawyer Wildomar |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |
| Tax By-Pass Trust Lawyer |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |
| Tax By-Pass Trust Lawyer |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |
| Tax By-Pass Trust Wildomar |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |
| Credible Tax By-Pass Trust Lawyer in Wildomar |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |