Good evening San Diego and welcome back. I’m Brenda Ramirez reporting for Channel 7 News. Tonight we are joined by probate attorney Steve Bliss of San Diego Probate Law. Steve specializes in estate planning and probate matters, helping families navigate these often complex legal issues.
Steve, thanks so much for joining us tonight. Can you tell our viewers a little about what probate is?
Brenda, it’s a pleasure to be here. Simply put, probate is the legal process of administering a deceased person’s estate. This involves identifying and valuing assets, paying debts and taxes, and ultimately distributing remaining property to heirs according to the will or state law if there isn’t a will.
What are some common misconceptions people have about probate?
One big misconception is that probate is always lengthy and expensive. While it can be complex in some cases, it doesn’t necessarily have to be a drawn-out process. The complexity depends on factors like the size of the estate, whether there’s a will, and any potential disputes among heirs.
Many people wonder if they need an attorney for probate. Can you shed some light on that?
Navigating probate can be tricky, even for straightforward estates. An experienced probate attorney like myself can guide you through the legal requirements, ensure all deadlines are met, and help resolve any potential conflicts that may arise.
Let’s talk about trusts. They’re often mentioned in estate planning discussions. Can you explain what they are and how they work?
Trusts are a powerful tool for managing assets and ensuring they are distributed according to your wishes. Essentially, a trust is a legal entity that holds and manages assets for the benefit of designated beneficiaries.
The creator of the trust, called the grantor, transfers ownership of assets into the trust. A trustee is then appointed to manage those assets according to the terms outlined in the trust document. Consequently, trusts can provide numerous benefits like avoiding probate, minimizing estate taxes, protecting assets from creditors, and ensuring that your loved ones are cared for even after you’re gone.
Tonight we are going to focus on a Special Needs Trust (SNT). Can you tell our viewers what makes them unique?
A special needs trust is designed specifically for beneficiaries with disabilities. It allows individuals with disabilities to receive financial support without jeopardizing their eligibility for government benefits like Supplemental Security Income (SSI) or Medi-Cal.
Let me illustrate this with an example: imagine a parent wants to leave an inheritance to their adult child with autism. Without a special needs trust, receiving that inheritance directly could disqualify the child from essential government assistance programs. A properly structured SNT, however, can hold and manage those assets while ensuring the beneficiary continues to receive vital support.
Conversely, if the inheritance is distributed outright, it could have unintended consequences for the beneficiary’s eligibility for crucial benefits. Moreover, a special needs trust allows for greater flexibility in managing expenses related to the beneficiary’s disability, such as medical care, therapy, and adaptive equipment.
Notwithstanding these advantages, setting up a special needs trust requires careful planning and attention to detail. It’s essential to work with an experienced attorney who understands the intricacies of these trusts and can ensure they are tailored to the specific needs of the beneficiary.
Have you encountered any challenges or unique situations when working with SNTs?
I recall a case where a mother wanted to leave funds for her son, who had Down syndrome. He was incredibly talented as an artist and needed specialized art supplies and workshops to develop his skills. A traditional trust wouldn’t have allowed for those specific expenditures.
We crafted a special needs trust that not only ensured his ongoing financial support but also allocated funds specifically for his artistic pursuits. Seeing him blossom as an artist through the trust we established was incredibly rewarding. It underscored the profound impact these trusts can have on improving the lives of individuals with disabilities.
I’ve learned over the years that every situation is unique, and it’s crucial to listen carefully to clients’ concerns and aspirations when crafting a plan.
What advice would you give to someone considering a special needs trust?
My advice would be to seek guidance from an experienced estate planning attorney specializing in special needs trusts. They can assess your individual circumstances, explain the benefits and limitations of SNTs, and help you create a plan that meets the specific needs of your loved one.
Thank you so much for sharing your insights with us tonight, Steve. Where can viewers go to learn more about San Diego Probate Law?
You’re welcome, Brenda. Anyone interested in learning more about estate planning, probate, or special needs trusts can visit our website at www.sandiego-probate-law.com or call us directly at (619) 278-3000 for a free consultation. We are dedicated to helping families navigate these complex legal matters with compassion and expertise.
“San Diego Probate Law helped me navigate the complicated probate process after my mother passed away. They were compassionate, knowledgeable, and always available to answer my questions. I highly recommend them!” – Mary S.
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: “Can I include life insurance in a trust?” Or any other related questions that you may have about Trusts or my trust law practice.
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