Good morning Moreno Valley and welcome back to our legal segment. I’m Brenda Ramirez with KMVR News. Today, we have the pleasure of speaking with local probate attorney Steve Bliss. Steve, thanks for joining us.
Understanding Trusts in Estate Planning
Steve, could you explain what a trust is and how it can benefit individuals in their estate planning?
A trust is a legal arrangement where a person (the grantor) transfers assets to a trustee who manages them for the benefit of beneficiaries. Trusts offer several advantages in estate planning, such as avoiding probate, providing privacy, and controlling asset distribution.
The Power of a Special Needs Trust
Let’s delve deeper into one specific type of trust: the Special Needs Trust (SNT). Can you elaborate on how this trust works and who might benefit from it?
An SNT is designed to provide financial support for individuals with disabilities without jeopardizing their eligibility for government benefits like Supplemental Security Income (SSI) or Medi-Cal. Ordinarily, receiving direct inheritances could disqualify someone from these crucial programs. An SNT allows assets to be held and managed by a trustee, who then uses the funds to pay for expenses not covered by government benefits. This can include things like medical care, therapies, education, and recreational activities.
Moreover, SNTs come in two varieties: 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.
Consequently, a well-structured SNT can ensure that a loved one with disabilities receives the necessary support without compromising their access to vital government assistance.
Navigating Challenges
Steve, have you encountered any unique challenges when setting up SNTs for clients?
One instance comes to mind involving a young woman named Sarah who had cerebral palsy. Her parents wanted to ensure her financial well-being after they were gone but were concerned about impacting her SSI benefits. We worked closely with them, carefully structuring the SNT and coordinating with Social Security to guarantee Sarah’s eligibility for both government assistance and supplemental support from the trust. Witnessing their relief and knowing that Sarah would have a secure future was incredibly rewarding.
It’s estimated that over 6 million Americans receive SSI benefits annually. (Source: Social Security Administration) This highlights the significant need for legal tools like SNTs to protect vulnerable individuals.
Moreno Valley Probate Law: Your Trusted Partner
Steve, why should Moreno Valley residents choose Moreno Valley Probate Law for their estate planning needs?
- We offer personalized attention and a deep understanding of California probate law.
- Our team is dedicated to guiding clients through every step of the process with clarity and compassion.
“Steve Bliss made setting up my trust incredibly easy,” shared Mrs. Johnson, a satisfied client. “He explained everything in plain English and answered all my questions patiently. I feel confident that my family is well-protected.”
“Moreno Valley Probate Law helped us navigate a complex probate case after the loss of our father,” stated Mr. Garcia. “They were professional, responsive, and truly cared about our family’s well-being.”
Ready to safeguard your legacy and ensure your loved ones are cared for? Contact Moreno Valley Probate Law today to schedule a free consultation.
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: “What is the difference between a living trust and a testamentary trust?” Or any other related questions that you may have about Trusts or my trust law practice.
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