Trusts

Trusts are powerful estate planning tools that offer flexibility and control over your assets, both during your lifetime and after you pass away. Whether you're looking to protect your wealth, provide for loved ones, or hoping to avoid probate, a trust might be the right solution for you.

What is a Trust?

A trust is a legal arrangement where you (the grantor or settlor) transfer ownership of your assets (like property, investments, or cash) to a trustee. The trustee manages those assets according to your instructions for the benefit of designated beneficiaries.

Why Consider a Trust?

• Avoid Probate: Assets in a trust can bypass probate, a public court process, saving time and potential legal fees for your beneficiaries.

• Manage Assets During Incapacity: A trust can continue to manage your assets even if you become mentally or physically incapacitated, ensuring your financial needs are met.

• Provide for Special Needs: Trusts can be specifically designed to support loved ones with disabilities or special needs without compromising their eligibility for government benefits.

• Control Beyond the Grave: A trust allows you to set conditions on how and when your assets are distributed, even after your death.

Types of Trusts

Trusts differ based on their purpose. Some common types in Georgia include:

• Revocable Living Trust: A flexible trust you create and control during your lifetime. Assets can be easily added or removed, and the trust can be dissolved if you change your mind.

• Irrevocable Trust: Designed for tax benefits or asset protection. Once created, it's generally harder to modify or dissolve.

• Special Needs Trust: Protects assets for a beneficiary with disabilities while maintaining their eligibility for government benefits.

• Charitable Trust: Provides benefits for charitable causes you choose.

How Can The Lilly Law Firm, LLC Help You?

Trust law is complex, and there is no one-size-fits-all solution. As a Georgia trust attorney, I can:

• Analyze Your Needs: I'll carefully assess your financial situation, family dynamics, and goals to determine if a trust is right for you.

• Recommend the Right Trust: Help you choose a trust structure that aligns with your objectives.

• Draft the Trust Documents: Prepare legally sound documents to ensure your wishes are carried out and potential disputes are minimized.

• Support You Throughout the Process: Provide clear explanations and guidance from establishing your trust to its eventual distribution.

Learn How a Trust Can Work for You

If you're ready to explore the benefits of trust planning in Georgia, schedule a consultation at my office. Together, we'll design a strategy that protects your legacy and meets your family's unique needs.