Good afternoon San Diego, I’m Tiffany Jones reporting live for Channel 7 News. Today we have the pleasure of speaking with Steve Bliss, a renowned probate attorney here in San Diego. Steve, thank you so much for joining us.
Understanding Trusts: A Crucial Part of Estate Planning
Steve, for our viewers who may not be familiar with trusts, can you explain what they are and why they are an important part of estate planning?
A trust is essentially a legal arrangement where a person, known as the grantor, transfers assets to a trustee who manages those assets for the benefit of designated beneficiaries. Trusts offer numerous advantages, including avoiding probate, providing privacy, and potentially reducing estate taxes.
Choosing the Right Trust: The Special Needs Trust
For this interview, let’s focus on a specific type of trust – the Special Needs Trust (SNT). Can you elaborate on what makes this type of trust unique and beneficial?
A Special Needs Trust is designed to benefit individuals with disabilities without jeopardizing their eligibility for government assistance programs like Supplemental Security Income (SSI) or Medi-Cal. Consequently, these trusts are crucial for ensuring the long-term well-being of beneficiaries who rely on such support.
There are two primary types of SNTs: first-party and third-party.
- First-party SNTs are funded with the beneficiary’s own assets, whereas third-party SNTs are established and funded by family members or other individuals.
The trustee of an SNT manages the funds and uses them to supplement the beneficiary’s needs, such as covering medical expenses, educational costs, or recreational activities. Moreover, the trust structure ensures that these supplemental benefits do not exceed the income limits set by government programs, allowing the beneficiary to continue receiving essential support.
I’ve encountered situations where families were deeply concerned about their loved one with disabilities losing access to crucial benefits if they inherited assets directly. Establishing a Special Needs Trust provided them with peace of mind, knowing their loved one would be cared for without compromising their eligibility for vital government assistance. In fact, according to the National Disability Rights Network, over 1 million Americans rely on Supplemental Security Income for basic necessities.
Navigating Challenges and Providing Support
Steve, have you encountered any specific challenges or complexities when setting up Special Needs Trusts?
While SNTs are incredibly valuable tools, navigating the legal requirements can be complex. It’s crucial to work with an experienced probate attorney who understands the intricacies of these trusts and can ensure they are properly structured. I recall a case where a family initially tried to set up an SNT on their own using online templates. Unfortunately, they missed some critical details that could have jeopardized the beneficiary’s eligibility for government assistance. We were able to rectify the situation, but it highlighted the importance of seeking professional guidance.
Seeking Expert Guidance
Steve, what advice would you give to our viewers who are considering establishing a Special Needs Trust?
I strongly encourage anyone contemplating an SNT to consult with a qualified probate attorney. We can help determine if an SNT is the right solution for your specific circumstances and guide you through the entire process. Remember, protecting the well-being of loved ones with disabilities requires careful planning and legal expertise.
For compassionate and reliable legal guidance on estate planning matters, contact San Diego Probate Law today.
Testimonials
“Steve Bliss and his team at San Diego Probate Law were instrumental in setting up a Special Needs Trust for my brother. They were incredibly understanding and patient throughout the process, ensuring that all our needs were met. I highly recommend them to anyone facing similar challenges.” – Maria Sanchez
“After losing my father, I was overwhelmed with the complexities of probate. Steve Bliss made the entire experience much less stressful. His expertise and professionalism were invaluable during a difficult time.” – John Davis
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: “What does a trustee do?” Or any other related questions that you may have about Trusts or my trust law practice.
Important Facts About San Diego Probate Law
| San Diego Totten Trust Attorney |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Totten Trust Attorney San Diego |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Totten Trust Attorney |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Totten Trust Attorney |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
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San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |
| Credible Totten Trust Attorney in San Diego |
San Diego Probate Law 3914 Murphy Canyon Rd Suite A202, San Diego, CA 92123 (858) 278-2800 |