The Law Firm of Steven F. Bliss Esq.

Posted on January 21, 2019
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The Law Firm of Steven F. Bliss Esq.

Top Estate Planning Attorney in Temecula

The Law Firm of Steven F. Bliss:
Focused on Estate Planning in San Diego Since 1991

Estate Planning Attorney in Temecula, Steve BlissState laws are very specific about what can and can’t be in a will, trust, or medical or financial power of attorney; who can and can’t serve as a ​personal representative, trustee, health care surrogate or attorney in fact; who can and can’t be a witness to a will, trust, or medical or financial power of attorney; and what formalities must be observed when signing a will, trust, or medical or financial power of attorney. Speak to me, Steve Bliss for all your Estate Planning Attorney Temecula Need!

Estate Planning Can Help Sort Out Complex Family or Financial Situations

Take a look at your life and your assets to see if you fit into one or more of the following categories:

  • You’re in a second (or later) marriage
  • You own one or more businesses
  • You own real estate in more than one state
  • You have a disabled family member
  • You have minor children
  • You have problem children
  • You don’t have any children
  • You want to leave some or all of your estate to charity
  • You have substantial assets in 401(k)s and/or IRAs
  • You were recently divorced
  • You recently lost a spouse or other family member
  • You have a taxable estate for federal and/or state estate tax purposes

 

If one or more of these situations apply to you, then you’ll need the counseling and advice of an experienced estate planning attorney to create your estate planning documents.
Otherwise, it may be a probate lawyer and your state’s department of revenue and/or the IRS that will receive the largest chunk of your estate.

Who Am I?

I have been in private practice as an Attorney since 1991. My law practice is concentrated in the areas of Wills, Living Trusts and Estate Planning; assisting clients in Probate and Trust Administration matters; assisting clients with Chapter 7 and 13 Bankruptcy cases; and assisting my clients with the formation and management of Partnerships, LLC’s and Corporations.

Estate planning is the procedure of arranging and setting your affairs in order in the case of death, incapacity or disability. What makes up somebody’s estate is everything they own and everything that they want to accomplish in planning for their ultimate death, special needs or incapacity. Everyone has their own estate: some are big, some are small, some specify, and some are basic. For many people, their estate comprises their personal effects, their cash, their financial investments, their realty and their personal effects.

Who Needs Estate Planning and Who Does It Benefit one of the most?

Given that everyone has an estate, everybody needs to prepare one.

In regards to who does it benefit the most, the basic concept is everybody believes that the rich people actually benefit the most however the truth is that anybody who has a home, anyone who has some financial properties like bank accounts or financial investments, any person that has a family with children, they all actually take advantage of estate planning since you want to protect yourself, you want to protect your properties and you wish to secure your family. That is truly why individuals do estate planning; to safeguard themselves, their family and their possessions.

What are the Common Misconceptions That People Have About Estate Planning?

The greatest one is that estate planning is simply for rich people since individuals think that they are the only ones that actually gain from it. The reality is everybody gain from estate planning because if you donot correctly plan your estate, then the state in which you live is going to get associated with the management of your affairs.

Many people don’t realize that in California, if you own a house, then you’re going to need to do your estate planning. You are going to need to set up a revocable living trust since if you do not have a trust, when you pass away, all your assets are going to enter into the probate system and your family is going to be stuck in the court system for a year at a minimum.

What are the Factors that Contribute to a Well-Designed Estate Plan?

One element that adds to a properly designed estate plan is selecting the best individuals to deal with the appropriate job duties. For instance, you want people with an excellent financial background and who are trustworthy to be handling your monetary estate.You want people that are skilled to deal with emotional and medical choices to be the ones deciding what takes place to you if you become incapacitated or disabled, who is going to make life planning choices for you such as where you are going to live and who is going to take physically take care of you.

The other aspects that are involved in a good estate strategy would be just planning who you want to get your properties, when do you desire them to get them and how are they going to be managed while young people are maturing so that the assets are not misused or squandered or put in jeopardy. Most clearly a well-designed estate plan will take full advantage of the benefit to your household and keep your household and your loved ones out of the probate system if everything is established effectively.

What is a Will and How Does it Work?

A Last Will and Testamentis essentially a set of guidelines that dictate what occurs if you pass away. It states who you want to be the executor your will– that’s the person who will administer your estate. The will then says who gets your assets on the occasion that you die. It can say how and under what terms they get the assets.Perhaps most significantly, a will nominates guardians for your small kids.

What a will does is supply some organization of your affairs to be handled through the court system. What a will does refrain from doing is it does not avoid the probate system so that all of your affairs are going to be put in front of a judge and topic to court’s scrutiny. Sadly, that suggests that all your affairs become public record which many people don’t actually like all quite.

A will does not keep you out of the probate system. There is a huge misunderstanding that if you have a will, your affairs will not have to go through probate however that is simply not true. The reality is that a will is truly a piece of paper signed by a departed individual. The only worth that the will has is when a judge signs a court order saying that the will stands and this is how the estate assets are to be handled and distributed. So until a judge approve a court order such as that, the will itself has no worth.

In regards to how does someone make a will, well there are people that have written their own wills in handwritten form and then have it seen by a number of people. Most people have an attorney draft a will for them to make sure that it’s done property, that it says what it requires to state, and that it’s performed effectively so that it can not be challenged in court.

MAP to Estate Planning Attorney Temecula, Steve Bliss


41593 Winchester Rd #200, Temecula, CA 92590
(951) 223-7000

 

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