What are the New Georgia Trust Code provisions?

What are the New Georgia Trust Code provisions?

The current Georgia Trust Code contains no provisions that dictate which state’s laws apply when trust matters are at issue. The revised Code contains two new provisions. O.C.G.A. § 53-12-4 states which law will govern the validity of a trust. If the trust contains real property, the validity

What kind of trust do I need in Georgia?

For example, Georgia law does not grant step-children the same inheritance rights as natural born children and adopted children. You can make sure your step-children receive their portion of an inheritance by creating a Revocable Living Trust and naming them as beneficiaries.

What was the statute for life insurance trusts in Georgia?

The Georgia statute that allowed for the creation of life insurance trusts by oral agree- ment (OCGA § 53-12-22.1) was repealed. 2) Trust property (§§ 53-12-20 and 53-12-25): The requirement that a trust have trust property is retained.

What to know about estate planning in Georgia?

Note: If you want to brush up on the basics of Georgia estate planning (Wills, Probate, Power of Attorney, Revocable Trusts, Irrevocable Trusts and Advanced Healthcare Directives) take a look at these free ebooks. Access the free videos and subscribe to the Firm’s channel on YouTube by clicking here.

For example, Georgia law does not grant step-children the same inheritance rights as natural born children and adopted children. You can make sure your step-children receive their portion of an inheritance by creating a Revocable Living Trust and naming them as beneficiaries.

Note: If you want to brush up on the basics of Georgia estate planning (Wills, Probate, Power of Attorney, Revocable Trusts, Irrevocable Trusts and Advanced Healthcare Directives) take a look at these free ebooks. Access the free videos and subscribe to the Firm’s channel on YouTube by clicking here.

What are the different types of trusts in Marietta?

In this article, we cover a short comparison of Wills and trusts and introduce 10 of the most common types of trusts Marietta residents like to include in their estate plans.

What is Georgia Code Title 53 ( 2018 )?

2018 Georgia Code Title 53 – Wills, Trusts, and Administration of Estates Chapter 1 – General Provisions Chapter 2 – Descent and Distribution