People in Georgia might want to use a trust in an estate plan for a number of reasons. A trust can be used to minimize taxes on assets. With a trust, a grantor can also place conditions on how assets will be distributed. This may include specifying whether distributions will take place over time or tying them to specific conditions such as milestones in the beneficiary's life. The grantor may also use the trust to state what its purpose is.
Using an estate plan to pass values on to loved ones
Georgia residents who are creating an estate plan might wonder how they can use the plan to reinforce the values about money that they want to pass down to their children. This may be part of a lifelong process to impress upon family members that what can be done with money, including helping one another and the community, is more important than the money itself.
How the Cy Pres doctrine affects charitable trusts
Some people in Georgia who are creating an estate plan might wonder how a charitable trust differs from other types of trusts. For example, unlike a regular trust, a charitable trust does not have to name a beneficiary since the general public is supposed to benefit from the trust.
