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Loading...Downlaod this Georgia Revocable Living Trust Form which allows a person, known as the grantor, to transfer property or assets into a separate legal entity for the benefit of the grantor’s chosen recipients or benefciaries. This type of entity provides flexibility for a grantor to specify where, when, how and to whom the assets and property are distributed. A grantor can choose, for instance, that some of the assets should be spent for the education of the beneficiary. A grantor can decide that a beneficiary should be at least 25 before they receive a distribution. These are just some of may options. The grantor also chooses and administrator of the trust called a trustee. The trustee must hold the assets and property in trust for the beneficiaries.
A revocable trust is a trust that can be revoked or changed during the life of a grantor. When the grantor dies, it becomes irrevocable.