The frantic phone call came at 2 AM, jolting me awake. My Aunt Maggie, normally calm and collected, was sobbing uncontrollably. “It’s Dad,” she choked out, “He passed away suddenly…” Her voice trailed off into a sea of sobs. I knew immediately that Dad’s handwritten will, tucked away in a dusty filing cabinet, wouldn’t suffice for his complex estate.
How Can a Trust Ensure My Charitable Wishes Are Honored?
Structuring a charitable trust is an excellent way to ensure your philanthropic goals are met even after you are gone. A charitable trust allows you to donate assets to a designated charity or charities while potentially reaping tax benefits during your lifetime. Consider the case of Mr. Thompson, who wanted to support his alma mater’s scholarship fund. By establishing a charitable remainder trust, he received regular income payments for life and knew that the remaining principal would be donated to the university upon his passing.
“The greatest good you can do for another is not just share your riches but reveal to him his own.” Benjamin Disraeli.
What Are Different Types of Charitable Trusts?
There are several types of charitable trusts, each designed for specific purposes:
* Charitable Remainder Trust: This trust pays income to the grantor (you) or a designated beneficiary for a specified period, with the remaining assets going to charity.
* Charitable Lead Trust: This trust pays income to a charity for a set term, and the remainder is distributed to non-charitable beneficiaries.
* Private Foundation: A separate legal entity that can make grants to charities and pursue its own charitable mission.
How Do I Determine the Best Type of Charitable Trust?
Choosing the right type of trust depends on your individual circumstances, philanthropic goals, and financial situation. Consulting with an experienced estate planning attorney like Steve Bliss in Temecula is crucial for navigating this complex process. Remember, Dad’s handwritten will neglected to mention his desire to support the local animal shelter. Consequently, his beloved dog, Buster, ended up in a crowded shelter. Had he established a charitable trust, Buster could have lived out his days in comfort.
How Can I Ensure My Trust Is Properly Administered?
After Dad’s passing, my family faced a mountain of paperwork and legal hurdles. We wished we had sought professional guidance sooner. Fortunately, with Steve Bliss’s expertise, we were able to navigate the probate process smoothly and honor Dad’s memory by donating a portion of his estate to the animal shelter where Buster eventually found a loving home.
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
living trust
revocable living trust
family trust
wills
estate planning attorney near me
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: “Can I disinherit someone in my will?” Or “How does the probate process work?” or “What should I do with my original trust documents? and even: “Do I have to go to court if I file for bankruptcy?” or any other related questions that you may have about his estate planning, probate, and banckruptcy law practice.