Drafting a Trust In Rome, Georgia

Find the right Drafting a Trust attorney in Rome, GA

In Rome, 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 numerous 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. Moreover, 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. Thus, if you want them to only be able to spend it on education, for instance, you can do that.

If you want, you could implement a trust with no restrictions on how much money the trustee can spend from the trust, and let the beneficiary spend all the money on whatever they'd like. If this is what you want to do, that's fine- but if the beneficiary is a young adult with spendthrift habits, you obviously might want to take into consideration the fact that they could quickly spend all the money on some pretty frivolous stuff.

What to Include in Any Rome, GA Trust

There are 4 things that have to be present in every trust for it to be legitimate in Rome, Georgia. First, the trust must have a stated purpose. Whatever purpose you intend the trust to serve, you should make it quite clear when drafting the document.

Second, the trust needs a trustee. The trustee will have possession of the property or money that is being held in trust, and will be accountable for putting it to the use that the creator of the trust intended.

Third, there must be a named beneficiary. This is the person, persons, or entity who is truly benefiting from the trust. This person or entity must be precisely identified, or must be identifiable at some point in the future that can be objectively defined.

Finally, the trust needs to truly be composed of something. A trust document must name the money or property which is directly being held in trust, which is identified as the "corpus" or "body" of the trust.

Can A Rome, Georgia Trust Drafting Attorney Help?

While it's fairly easy to list off the basic requirements for a valid trust, actually creating and implementing one can be fairly confusing. Therefore, you should probably seek the advice of a Rome, Georgia attorney if you wish to set up a trust.

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

Life in Rome

Rome is a city in Floyd County, Georgia. It is the largest city in, and county seat of, Floyd County. As of the 2000 United States Census, Rome, Georgia has a population of about 34,000 people.

Rome was inhabited by humans for thousands of years before the arrival of European colonists. Europeans first explored the area in the mid-1500s, when Spanish explorers first charted the Southeastern U.S.

The modern city of Rome, Georgia was founded in 1834. The founders of the new city determined its name by drawing lots from names submitted by the other founders. In 1835, the Georgia legislature incorporated Rome as a city. During the Civil War, Rome's industrial capacity made it strategically important, and both sides fought fiercely to control it.

Modernly, Rome is a thriving small city, owing to its diverse economy. It is supported by the manufacturing, high technology, tourism, and healthcare. Rome is also home to Shorter University, a private liberal arts college which consistently brings in new, young residents with disposable income, further boosting the economy.

If you live in Rome, Georgia, and need a competent, experienced attorney to handle any legal issues you might be facing, you're in luck. There are many Rome, Georgia lawyers to choose from, and you should be able to find one who's right for you.

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