Drafting a Trust In Dunwoody, Georgia

Find the right Drafting a Trust attorney in Dunwoody, GA

In Dunwoody, Georgia, a trust is an arrangement in which property is held by one individual (the trustee) for the benefit of another (the beneficiary).

There are various reasons why a person might set up a trust. A well-managed trust, started with a substantial amount of money, can mature into a sizable college fund for a child. Furthermore, if the trust is well-drafted, the beneficiary can be restricted in how they use the money, so they don't waste it.

Regardless of the purpose for which you're creating a trust, you can be sure that the beneficiary will only be able to spend the trust fund in ways you approve of. This is because a trust document, at the time of drafting, can place any restrictions or allowances you want on the beneficiary's use of the money. So, if you want them to only be able to spend it on education, for instance, you can do that.

Of course, the trust could also be set up to allow the beneficiary unfettered access to the fund, or a certain amount of money could be released from the fund to the beneficiary each month, for the beneficiary to use as he or she sees fit.

What to Include in Any Dunwoody, GA Trust

To set up a legitimate trust in Dunwoody, Georgia, 4 elements are necessary. First, the trust must have a stated purpose, and this purpose must be precisely laid out in the documents that formulate the trust.

Second, there must be a trustee. This is the individual who will administer the trust, and retain possession of the property or money that it contains, as well as being accountable for utilizing it to effectuate the trust's purpose.

Third, the trust needs to have a named beneficiary. The beneficiary is the individual who benefits from the trust.

Lastly, the trust needs to have a corpus, or body. The "body" of the trust is the property that benefits the beneficiary, and that the trustee oversees. Obviously, there can be no trust without something being held in trust.

Can A Dunwoody, Georgia Trust Drafting Attorney Help?

While it's not difficult to understand the basic requirements of a trust, actually creating a trust can be a bit more perplexing. Therefore, it is advisable to contact a reputable Dunwoody, Georgia attorney to help you set up a trust.

Talk to a Wills, Trusts and Estates Law Attorney now!

Life in Dunwoody

Dunwoody, Georgia is a city located in the Atlanta Metropolitan Area. It has a population of about 39,000 people.

Dunwoody, Georgia is a highly affluent community, and is ranked as the third-wealthiest city in Georgia. The city was named for Major Charles Dunwody (the extra "o" in the city's name owing to a misspelling on a bank note).

Dunwoody, Georgia has many historic buildings, including a church that has survived mostly unchanged since 1829, which is still in use today. Furthermore, Dunwoody's first public school, which opened in 1911, was in continuous use until the 1980s.

Dunwoody is generally considered a more upscale community, with a per capita income of over ,000, and a median household income of over ,000. This is likely due to the fact that Dunwoody, Georgia is largely populated by upper-middle-class professionals, who work in nearby Atlanta.

Given the sophisticated clientele of Dunwoody, Georgia, it should come as no surprise that there are some pretty skilled lawyers in the Dunwoody, Georgia area. If you have a legal problem, it's pretty much certain that a Dunwoody, Georgia lawyer can handle it.

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