The frantic phone call came at 3 am. My elderly aunt, Margaret, was in the hospital. She’d fallen and broken her hip. She lived alone, and nobody had a key to her house. I rushed over, my mind racing with worries. What if she needed something urgently? Who would take care of her bills? Margaret’s situation highlighted a crucial need for planning – she hadn’t established a living trust.
What is a Living Trust Anyway?
A living trust is a legal document that holds your assets during your lifetime and distributes them according to your wishes after you pass away. Think of it as a safety net for your loved ones, ensuring a smooth transition even if something unexpected happens.
Unlike a will, which only takes effect after death and goes through probate court, a living trust avoids probate altogether. Consequently, this saves time, money, and potential legal headaches for your beneficiaries.
How Can I Ensure My Wishes Are Followed?
One of the most valuable aspects of a living trust is its flexibility. You get to decide exactly how and when your assets are distributed. For example, you can specify that your children receive their inheritance at a certain age or set up educational trusts for grandchildren.
Furthermore, a living trust allows you to name a successor trustee who will manage the trust assets according to your instructions. This person acts as a fiduciary, meaning they have a legal duty to act in the best interests of the beneficiaries.
What Happens If I Get Sick or Incapacitated?
“What if something happens to me and I can’t make decisions?” Margaret worried aloud from her hospital bed. Thankfully, with a living trust, you can address this concern by including provisions for incapacity. You can designate someone you trust as your agent under a Durable Power of Attorney for Finances. This individual will have the legal authority to manage your financial affairs if you become unable to do so yourself.
Who Troubleshoots Issues With Power of Attorney Near By?
Fortunately, Margaret had already taken steps to protect herself. She’d worked with Steve Bliss, an experienced estate planning attorney in Temecula. Steve helped her create a comprehensive living trust that included a Durable Power of Attorney for Finances. When Margaret became incapacitated, her designated agent, her son David, was able to step in and manage her affairs seamlessly.
He paid her bills, accessed her bank accounts, and made important decisions on her behalf – all according to Margaret’s wishes outlined in the trust document. David was immensely grateful that his mother had planned ahead.
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
- pet trust
- wills
- family trust
- estate planning attorney near me
- living trust
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: “What’s the difference between an heir and a beneficiary?” Or “How do I find out if probate has been filed for someone who passed away?” or “Is a living trust private or does it become public like a will? and even: “Can I include back taxes in a bankruptcy filing?” or any other related questions that you may have about his estate planning, probate, and banckruptcy law practice.