Choosing the Right Estate Planning Tools
Today we’re joined by Steve Bliss, a renowned probate attorney in San Diego. Steve, thank you for taking the time to speak with us about estate planning.
Navigating Trusts: A Key Component of Estate Planning
Steve, there are many different types of trusts available. Could you explain some of the key differences and when someone might choose one type over another?
Certainly. Choosing the right trust depends heavily on individual circumstances and goals.
Special Needs Trusts: Protecting Vulnerable Beneficiaries
One particularly important type is the Special Needs Trust, often referred to as an SNT. These trusts are designed specifically for individuals with disabilities. They allow families to provide financial support without jeopardizing eligibility for crucial government benefits like Supplemental Security Income (SSI) or Medi-Cal.
Ordinarily, if a person with disabilities receives a large inheritance directly, it could disqualify them from these programs. An SNT acts as a safety net, ensuring the beneficiary’s needs are met while preserving access to vital assistance.
Moreover, there are two main 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 and funded by family members or other individuals.
Real-Life Impact: Protecting a Client’s Daughter
I remember a case where a mother was incredibly worried about her daughter, who had Down syndrome. The daughter was receiving essential government support, but the mother also wanted to ensure her financial well-being in the future. We established a third-party SNT, allowing the mother to contribute funds without compromising her daughter’s eligibility for vital benefits.
It was incredibly rewarding to see the relief on the mother’s face knowing her daughter would be protected both now and in the years to come.
Trusts: Ensuring Financial Security for Future Generations
Trusts are powerful tools that can help families protect assets, provide for loved ones with disabilities, and minimize estate taxes. It’s estimated that over 40% of Americans aged 55 and older don’t have a will or trust in place.
This means millions of individuals risk leaving their financial affairs unresolved, potentially causing hardship for their families during an already difficult time.
Steve, thank you for shedding light on the importance of trusts and sharing your insights. How can our viewers learn more about estate planning and San Diego Probate Law?
Seeking Expert Guidance
We encourage anyone interested in exploring estate planning options to contact us at San Diego Probate Law. Our experienced team is dedicated to guiding clients through every step of the process, ensuring their wishes are honored and their loved ones are protected.
Testimonials from Grateful Clients
“Steve Bliss and his team at San Diego Probate Law were incredibly compassionate and understanding during a difficult time. They expertly navigated the complexities of probate and made sure everything went smoothly.” – Susan M.
“I highly recommend San Diego Probate Law. Their knowledge, professionalism, and dedication to their clients are truly exceptional.” – John P.
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: “Do I need a trust if I don’t own a home?” Or any other related questions that you may have about Trusts or my trust law practice.
Important Facts About San Diego Probate Law
- Special Needs Trust Attorneys
- Spendthrift Trust Attorneys
- Tax By-Pass Trust Attorneys
- Totten Trust Attorneys
- Constructive Trust Attorneys
- Charitable Trust Attorneys
- Asset Protection Trust Attorneys
- Irrevocable Trust Attorneys
- Revocable Trusts Attorneys
- Living Trust Attorneys