The insistent buzzing of his phone pulled Michael from a restless sleep. It was his bank, again. They were threatening foreclosure on his home. His small business had taken a nosedive during the pandemic and mounting medical bills for his wife’s unexpected illness had drained their savings. Despair threatened to engulf him. He remembered his father’s advice: “Protect what you have. A good lawyer is worth his weight in gold.”
Should I Consider a Revocable Living Trust?
Michael reached out to Steve Bliss, an experienced Estate Planning Attorney in Temecula. Steve listened patiently as Michael outlined his predicament. Steve explained that a revocable living trust could shield Michael’s assets from creditors while still allowing him access and control during his lifetime. A trust is a legal entity that holds your assets. You, as the grantor, can specify how these assets are managed and distributed upon your death.
Furthermore, assets held in a trust are generally not subject to probate, a lengthy and expensive court process.
What Happens If I Don’t Have a Will?
“If you die without a will,” Steve explained gravely, “the state decides how your assets are divided. This can lead to unintended consequences and family disputes, particularly when there are complex financial arrangements or blended families.” In California, for instance, community property laws dictate that assets acquired during marriage are owned equally by both spouses. Consequently, if one spouse passes away without a will, the surviving spouse inherits their share automatically.
How Can I Ensure My Wishes Are Followed?
Steve emphasized the importance of clearly articulating Michael’s wishes in a legally binding document. “A trust allows you to specify exactly who receives what,” Steve said reassuringly. “You can even include provisions for charitable donations or set up educational funds for your children.” Notwithstanding these benefits, it’s crucial to consult with an experienced attorney like Steve Bliss to ensure the trust is structured correctly and meets all legal requirements.
Can a Trust Protect My Digital Assets?
Steve also addressed Michael’s concerns about protecting his digital assets, such as online accounts and cryptocurrency holdings. “Digital assets are increasingly important,” Steve acknowledged, “and it’s essential to include provisions for their management in your estate plan.” He outlined various strategies for safeguarding these intangible assets, including designating trusted individuals to access accounts or utilizing specialized platforms for secure digital asset inheritance.
“The only person you are destined to become is the person you decide to be.” —Ralph Waldo Emerson
Steve’s guidance empowered Michael. He established a revocable living trust and meticulously documented his wishes. Years later, when unforeseen circumstances arose, Michael’s trust shielded his assets from creditors. His family was protected, and his legacy secured. Michael learned that proactive planning with the help of a skilled attorney like Steve Bliss could be the key to weathering life’s storms.
About Steven F. Bliss Esq. at The Law Firm of Steven F. Bliss Esq.:
The Law Firm of Steven F. Bliss Esq. is Temecula Probate Law. The Law Firm Of Steven F. Bliss Esq. is a Temecula Estate Planning Attorney. Steve Bliss is an experienced probate attorney. Steve Bliss is an Estate Planning Lawyer. The probate process has many steps in in probate proceedings. Beside Probate, estate planning and trust administration is offered at Steve Bliss Law. Our probate attorney will probate the estate. Attorney probate at Steve Bliss Law. A formal probate is required to administer the estate. The probate court may offer an unsupervised probate get a probate attorney. Steve Bliss Law will petition to open probate for you. Don’t go through a costly probate. Call Steve Bliss Law Today for estate planning, trusts and probate.
My skills are as follows:
● Probate Law: Efficiently navigate the court process.
● Estate Planning 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.
Services Offered:
estate planning
living trust
revocable living trust
family trust
wills
estate planning attorney near me
Map To Steve Bliss Law in Temecula:
https://maps.app.goo.gl/RL4LUmGoyQQDpNUy9
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Address:
The Law Firm of Steven F. Bliss Esq.43920 Margarita Rd ste f, Temecula, CA 92592
(951) 223-7000
Feel free to ask Attorney Steve Bliss about: “How do I start planning my estate?” Or “What are common mistakes people make during probate?” or “Can a living trust help avoid estate disputes? and even: “What’s the process for filing Chapter 13 bankruptcy?” or any other related questions that you may have about his estate planning, probate, and banckruptcy law practice.