Good evening Moreno Valley and welcome to KVCR News. I’m Sarah Thompson. Tonight we’re joined by Steve Bliss, a renowned probate attorney here in Moreno Valley. Steve, thank you so much for being with us.
Understanding Testamentary Trusts
Steve, let’s start with the basics. Can you explain what a testamentary trust is and how it differs from other types of trusts?
A testamentary trust is a unique legal instrument that comes into existence only after the death of the person who created it, which we call the grantor. Unlike living trusts which are active during the grantor’s lifetime, testamentary trusts are outlined in a will and go through probate before becoming effective. This means the court oversees the process of transferring assets into the trust and appointing a trustee to manage them according to the grantor’s wishes.
Benefits and Uses
So, why would someone choose a testamentary trust over other options?
There are several compelling reasons. Testamentary trusts are particularly useful when you want to provide for minor children or beneficiaries who may need financial assistance but lack the maturity or capacity to manage funds responsibly. Moreover, they offer a level of control that isn’t always possible with outright bequests. The grantor can specify how and when assets are distributed, ensuring they are used for intended purposes, like education or healthcare.
Conversely, a testamentary trust doesn’t avoid probate like a revocable living trust does. Consequently, it may be a less desirable option for those seeking to minimize estate administration costs and delays.
Real-World Impact
Have you encountered any situations where a testamentary trust proved particularly beneficial?
I recall representing a single mother who wanted to ensure her young daughter would have financial security even if something happened to her. We established a testamentary trust that stipulated the funds could only be used for the child’s education and living expenses until she reached the age of 25. It brought her immense peace of mind knowing her daughter would be cared for, even in her absence.
In another case, I worked with a client who had a family member struggling with addiction. He wanted to provide support without enabling harmful behavior. We structured a testamentary trust that allowed for monthly stipends contingent on the beneficiary’s participation in a recovery program. It demonstrated his love and concern while promoting responsible choices.
More than 60% of Americans don’t have a will or estate plan, according to a recent survey by Caring.com. Testamentary trusts offer a valuable tool for ensuring assets are distributed according to your wishes and protecting vulnerable beneficiaries.
Next Steps
Steve, what advice would you give to our viewers who are considering incorporating a testamentary trust into their estate plan?
Consulting with an experienced probate attorney is crucial. We can help you determine if a testamentary trust aligns with your goals and craft a legally sound document that reflects your wishes. Remember, proper planning today can provide peace of mind for tomorrow.
Testimonials
- “Steve Bliss and his team at Moreno Valley Probate Law were incredibly helpful in navigating the complexities of my father’s estate. They answered all my questions patiently and guided me through every step of the process.” – Maria Sanchez, Moreno Valley resident.
- “I was initially overwhelmed by the thought of probate, but Steve Bliss made it much less daunting. He is knowledgeable, compassionate, and truly cares about his clients’ well-being.” – John Davis, Moreno Valley resident.
Let us help you secure your family’s future. Call Moreno Valley Probate Law today for a confidential consultation. We’re here to answer your questions and guide you towards the best solutions for your unique circumstances.
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 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: “What’s better—amendment or restatement?” 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 |