Drafting a Trust In Savannah, Georgia

Find the right Drafting a Trust attorney in Savannah, GA

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

There are several 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 establishing 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 example, you can do that.

If you want, you could establish 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 easily spend all the money on some pretty frivolous stuff.

What to Include in Any Savannah, GA Trust

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

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

The third required element to make a valid trust is the beneficiary or beneficiaries. Because a trust, by definition, is set up to benefit someone or something, that entity must be identified in the trust. However, if the person(s) meant to benefit from the trust do not yet exist, they can still be valid beneficiaries, as long as they are part of an identifiable class of people, and can be easily identified if they are born. For example, you could set up a trust to benefit your grandchildren, even if you don't actually have any grandchildren yet.

Fourth and finally, there must be some money or property which is actually going to be held in the trust. This property is referred to as the "corpus" (body) of the trust, and can be just about anything. However, it must actually exist, and it must be identified.

Can A Savannah, Georgia Trust Drafting Attorney Help?

While the elements of a valid trust are relatively simple and easy to remember, drafting a trust that is sure to be carried out according to the wishes of the person making it can still be complicated. For that reason, a good Savannah, Georgia attorney specializing in estate planning and the drafting trusts may prove invaluable.

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

Life in Savannah

Savannah, Georgia is the county seat for Chatham County. It is the largest city in the county and was Georgia's original state capital. Savannah is also an important industrial hub and a functional Atlantic seaport.

Savannah is internationally known for being a model of "Southern hospitality and charm". The city's culture, architecture, and history have earned it the nickname of "Hostess City of the South". The nickname is a reference to the warm and cordial atmosphere of the city and its residents. In particular, Savannah's cozy downtown area attracts many visitors and is one of the U.S.' largest National Historic Landmarks.

Music plays a major role in Savannah culture. Year-round, the city hosts several music festivals, such as the annual Savannah Jazz Festival and the Savannah Music Festival. Several rock bands had their start in Savannah. The Savannah Civic Center also hosts concerts and features over 900 different events every year. Savannah, Georgia is frequently mentioned in popular films, television shows, and in literature.

Lawyers in Savannah, Georgia practice in many areas of law in order to meet the diverse needs of the community. Many Savannah lawyers are part of the Savannah Bar Association and other local and voluntary bar organizations

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