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Georgia Trust Administration Lawyer

No one knows what the future holds. That’s why it’s so important to establish tools to protect your family and assets even after you’re gone.

One of the most crucial and beneficial of these tools is a trust.

Appointing a trustee to manage the transfer of your assets with the help of a dedicated and experienced Georgia trust administration lawyer is a great way to prepare for your future without tedious court involvement. Marietta Estate Planning can help you set up everything you need for your trust.

Call to schedule your consultation

Georgia Trust Administration Lawyer

No one knows what the future holds. That’s why it’s so important to establish tools to protect your family and assets even after you’re gone.

One of the most crucial and beneficial of these tools is a trust.

Appointing a trustee to manage the transfer of your assets with the help of a dedicated and experienced Georgia trust administration lawyer is a great way to prepare for your future without tedious court involvement. Marietta Estate Planning can help you set up everything you need for your trust.

Call to schedule your consultation

”Kim Frye and the Frye Law Group did an excellent job helping with my estate planning. They were professional, courteous and took their time explaining my options and answering questions.

~ Calista H.

What is a Trust?

A trust gives a trustee the right to manage your property and assets without probate, the court administration of your estate.

(Probate court is necessary, however, to process wills, because the court must review the will and appoint someone as an executor.)

Appointing a trustee instead saves time, money and stress when it comes to transferring your estate. As the trustor, you set the terms on when and how the trustee can pass your assets to your beneficiaries, and probate court is not necessary.

Call to schedule your consultation

Benefits of a Trust

When it comes to estate planning, a trust gives you more control over your assets than a will does. You specify the terms of the trust, including access during and after your lifetime and who can access and benefit from it.

A trust also protects your privacy. Probate court is public record, so a trust allows you to privately pass your assets to your beneficiaries. Moreover, a trust saves time and money by bypassing probate court.

Common Categories of Trusts in Georgia

There are several types of trusts that you can choose from in Georgia. A few of the most common ones include:

Living vs. Testamentary:

When you establish a living trust, or an inter-vivos trust, you can still access the trust during your lifetime, then the assets will be transferred to a beneficiary once you pass. A testamentary trust, or a will trust, is set up exclusively to instruct on the transfer of a trustor’s assets after you pass.

Revocable vs. Irrevocable:

As a trustor, you can alter or terminate your revocable trust during your lifetime. On the other hand, an irrevocable trust cannot be changed once you establish it, even if you are still alive. Irrevocable trusts tend to minimize or bypass estate taxes.

Other types of trusts people create with the help of a Georgia estate planning lawyer include:

Marital vs. Bypass Trusts:

Avoid estate taxes with a Marital or Bypass trust. A marital trust is created while both spouses are still alive, then goes into effect after one passes. A bypass trust is created after the death of the first spouse in a married couple.

Asset Protection Trust:

Shields the trustor’s assets from creditors, lawsuits or other external factors.

Special Needs Trust:

Designed to protect a disabled loved one’s eligibility for government benefits, and to cover the cost of their daily expenses and/or medical care.

Charitable Lead Trust vs. Charitable Remainder Trust:

Exercise your philanthropic efforts with a Charitable Lead Trust or Charitable Remainder Trust. A charitable lead trust benefits a designated charity at a certain amount, then saves the remainder of your assets for your beneficiaries. A charitable remainder trust allows the trustor to receive an income stream for a set term, then disseminates the remaining assets to your designated charity.

The Responsibilities of a Trustee

Once you have been appointed as the trustee of someone’s assets, contact a trust administration attorney to help you formally accept your appointment. A trust administration attorney will prepare you for the necessary steps once the trustor passes away.

Next, as the trustee, you will set a timeline and budget for the trust administration. Then you will contact the beneficiaries of the trust to inform them of their role. Timely and clear communication is key to avoid potential trust litigation.

Finally, as the trustee, you will distribute the assets according to the terms of the trust. Once you complete transferring the assets, you will terminate the trust. That concludes your important role as trustee.

The Responsibilities of a Trustee

Once you have been appointed as the trustee of someone’s assets, contact a trust administration attorney to help you formally accept your appointment. A trust administration attorney will prepare you for the necessary steps once the trustor passes away.

Next, as the trustee, you will set a timeline and budget for the trust administration. Then you will contact the beneficiaries of the trust to inform them of their role. Timely and clear communication is key to avoid potential trust litigation.

Finally, as the trustee, you will distribute the assets according to the terms of the trust. Once you complete transferring the assets, you will terminate the trust. That concludes your important role as trustee.

Marietta Estate Planning is Here to Help

Our team of trust administration attorneys based in Marietta, Georgia are capable and knowledgeable in protecting family assets. We work with trustors, trustees and their beneficiaries to safeguard a trust’s assets, and to facilitate the transfer of assets. Contact us to schedule your first consultation.

* While this website provides general information, it does not constitute legal advice. The best way to get guidance on your specific legal issue is to contact a lawyer.

To schedule a meeting with our team, please complete the intake form.