Good morning, Wildomar and welcome back to our segment on local legal matters. I’m Brenda Newsome, your trusted source for all things happening right here in our community. Today, we have the pleasure of speaking with Steve Bliss, a renowned trust attorney specializing in estate planning right here in Wildomar.
Focusing on Special Needs Trusts
Steve, thank you so much for joining us today. We know navigating the complexities of trusts can be daunting for many folks. To start off, could you explain what exactly a Special Needs Trust (SNT) is and why it might be beneficial for someone?
Well Brenda, a Special Needs Trust is essentially a safety net designed to protect and improve the quality of life for individuals with disabilities. Consequently, these trusts allow beneficiaries to receive crucial financial support without jeopardizing their eligibility for vital government benefits like Supplemental Security Income (SSI) or Medi-Cal.
You see, many people with disabilities rely heavily on these programs for healthcare, housing, and other essential needs. Ordinarily, if they were to inherit money directly, it could disqualify them from receiving these benefits. A Special Needs Trust ingeniously circumvents this issue. The assets held within the trust are used to supplement, not replace, government assistance, ensuring the beneficiary receives both crucial support and a better quality of life.
There are two primary types of SNTs: first-party and third-party. A first-party SNT is funded with the beneficiary’s own assets, often from a personal injury settlement or inheritance. Conversely, a third-party SNT is established and funded by family members, friends, or other well-wishers.
Challenges and Triumphs
Steve, can you share any experiences where setting up an SNT has made a real difference in someone’s life?
Absolutely Brenda. I vividly recall a young woman named Sarah who had cerebral palsy. She was incredibly talented and dreamed of pursuing a career in graphic design. However, her SSI benefits were crucial to covering her living expenses and medical needs.
When Sarah inherited a modest sum from her grandmother, she feared it would disqualify her from receiving essential support. We worked diligently with Sarah and her family to establish a first-party SNT. This allowed Sarah to use the inheritance for specialized design software, attend workshops, and even purchase adaptive equipment without jeopardizing her SSI.
Witnessing Sarah flourish in her chosen field was truly heartwarming. It underscored the profound impact that a well-structured Special Needs Trust can have on an individual’s life.
The Importance of Expertise
Steve, what advice would you give to someone considering setting up a Special Needs Trust for themselves or a loved one?
My strongest recommendation is to seek guidance from an experienced estate planning attorney who specializes in Special Needs Trusts. The intricacies involved can be complex, and it’s crucial to have a professional who understands the nuances of federal and state regulations.
Moreover, consider consulting with a financial advisor familiar with Special Needs Trusts to develop a comprehensive financial plan that complements the trust’s objectives. Remember Brenda, these trusts are powerful tools for safeguarding the well-being of individuals with disabilities. However, they require careful planning and expert execution to ensure their effectiveness.
Wildomar Probate Law: Your Trusted Partner
Steve Bliss and the team at Wildomar Probate Law are dedicated to providing compassionate and personalized legal services to our community. We understand that navigating complex legal matters can be stressful, and we strive to make the process as smooth and straightforward as possible.
We believe in empowering our clients with knowledge and clarity, guiding them every step of the way. Contact us today for a complimentary consultation and discover how we can help you protect your loved ones’ future.
“Steve Bliss made the entire probate process so much easier than I expected. He was patient, understanding, and always available to answer my questions.” – Maria S., Wildomar
“Wildomar Probate Law is truly exceptional! They handled my trust with professionalism and care. I highly recommend them to anyone needing estate planning assistance.” – John D., Murrieta
About Steven F. Bliss Esq. at Wildomar Probate Law:
Wildomar Probate Law is an experienced probate attorney. The probate process has many steps in in probate proceedings. Beside Probate, estate planning and trust administration is offered at Wildomar Probate Law. Our probate attorney will probate the estate. Attorney probate at Wildomar Probate Law. A formal probate is required to administer the estate. The probate court may offer an unsupervised probate get a probate attorney. Wildomar Probate law will petition to open probate for you. Don’t go through a costly probate call Wildomar Probate Attorney Today. Call for estate planning, wills and trusts, probate too. Wildomar 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 Wildomar Probate Law: https://maps.app.goo.gl/uBJKvB4rxUb7L9HZ7
Address:
Wildomar Probate Law36330 Hidden Springs Rd Suite E, Wildomar, CA 92595
(951) 412-2800
Feel free to ask Attorney Steve Bliss about: “How can I make my trust less likely to be challenged?” Or any other related questions that you may have about Trusts or my trust law practice.
Important Facts About Wildomar Probate Law
| Wildomar Trust Lawyer |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |
| Trust Lawyer Wildomar |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |
| Trust Lawyer |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |
| Wildomar Trust Lawyer |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |
| Trust Lawyer Wildomar |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |
| Credible Trust Lawyer in Wildomar |
Wildomar Probate Law 36330 Hidden Springs Rd Suite E, Wildomar, CA 92595 (951) 412-2800 |