I’m Maria Sanchez reporting for Moreno Valley News Today. Joining me today is Steve Bliss, a prominent probate attorney in our community. Mr. Bliss, thank you for taking the time to speak with us.
Testamentary Trusts: A Valuable Tool for Estate Planning
Steve, can you explain what a testamentary trust is and how it differs from other types of trusts?
Certainly. A testamentary trust is created through a will and only comes into effect after the grantor’s death. Unlike revocable living trusts which avoid probate, testamentary trusts actually go through the probate process. This might seem counterintuitive, but there are compelling reasons why someone might choose a testamentary trust.
Ordinarily, testamentary trusts are beneficial when you have minor children or beneficiaries who may need assistance managing their inheritance. For instance, imagine a parent wanting to ensure their child receives financial support for education while also protecting those funds from being spent irresponsibly. A testamentary trust can be structured to release funds gradually as the beneficiary matures.
Safeguarding Inheritance for Beneficiaries
Moreover, testamentary trusts offer flexibility in managing assets. The grantor can specify how and when distributions are made, providing a level of control even after they’re gone. Consequently, this type of trust can be particularly useful for individuals concerned about their beneficiaries’ financial well-being.
I once worked with a client who had concerns about her grandson inheriting a substantial sum at a young age. She feared he might squander the money without proper guidance. Through a testamentary trust, we were able to ensure that the funds would be used for his education and living expenses until he reached a certain age, providing him with financial security while encouraging responsible financial habits.
Studies have shown that approximately 70% of individuals who receive large inheritances without proper planning end up losing a significant portion within a few years. (Source: Financial Planning Association)
Moreno Valley Probate Law: Your Trusted Advisors
Steve, thank you for shedding light on this important estate planning tool. How can our viewers learn more about testamentary trusts and other probate matters?
“Contact Moreno Valley Probate Law today to schedule a consultation. Our team of experienced attorneys is dedicated to helping you protect your assets and ensure your wishes are carried out.”
“Moreno Valley Probate Law made the whole process so easy! They explained everything clearly and took care of all the details.” – Sarah M.
“I was impressed with their knowledge and professionalism. They truly went above and beyond to help me during a difficult time.” – John D.
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 a trust restatement?” Or any other related questions that you may have about Trusts or my trust law practice.
Important Facts About Moreno Valley Probate Law
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