Georgia Living Trust Forms
Download this Georgia living trust which is a way for a person to provide flexibility in how his or her assets are handled and distributed to his or her beneficiaries. The grantor places the assets in a trust, which is a separate legal entity. The grantor specifies how and when he or she wants the assets distributed and to which beneficiaries. For instance, a grantor might specify that the assets are not to be distributed until a beneficiary reaches a certain age. The grantor also chooses a trusted person to administer the trust called a trustee. The trustee, under state law, has a fiduciary obligation to the beneficiaries of the trust.
Revocable vs. Irrevocable: An irrevocable trust is not meant to be changed or revoked by the grantor, whereas a revocable trust can be changed during the grantor’s life, but it becomes irrevocable after the grantor dies.