Marietta Trust And Estate Attorneys | Hire A Trust Attorney In Marietta

Marietta Trust And Estate Attorneys - Trust Lawyer In Marietta - Marietta Trust Law Firm - Marietta Estate Attorneys - Trust Attorney Marietta GA

What does a Marietta trust attorney and do you need one? 

In this article, you’ll learn about:

  • what a trust fund lawyer does
  • how to avoid probate, minimize taxes, and avoid creditors and lawsuits
  • the different types of trusts
  • what to look out for with a trust attorney
  • how much do trust attorneys cost
  • whether you need a trust attorney

Let’s dig in.

Table of Contents

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What Does A Marietta Trust Attorney Do?

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A trust attorney in Georgia specializes in the creation and management of trusts. 

Trusts are legal entities that hold assets for the benefit of another person or entity, referred to as the beneficiary. 

The trust is managed by a trustee, who is responsible for:

Here are the primary duties of a trust attorney in Marietta:

  • Drafting Trusts: The trust and estate attorney drafts the legal documents necessary to establish the trust. This includes specifying the terms of the trust, identifying the trustee and beneficiaries, and defining how and when the trust’s assets should be distributed.
  • Advising Clients: Trust attorneys advise clients on the best type of trust to meet their needs. This might include revocable trusts, irrevocable trusts, testamentary trusts, living trusts, or special needs trusts, among others. The attorney will also help the client understand the tax implications and potential legal issues associated with different types of trusts.
  • Managing Legal Issues: A family trust lawyer helps resolve any legal issues that might arise in relation to the trust. This might include disputes among beneficiaries, questions of the trustee’s fiduciary duty, or legal challenges to the terms of the trust.
  • Administration of Trusts: Trust fund lawyers often assist in the administration of the trust, ensuring that the trustee properly manages and distributes the assets according to the terms of the trust.
  • Trust Litigation: If disputes arise that cannot be resolved amicably, a trust and estates lawyer may represent the trust, trustee, or beneficiaries in court.
  • Estate Planning: Our Marietta estate attorneys often work as part of a larger estate planning strategy, helping clients plan for the transfer of their assets after death, minimizing Georgia estate taxes, and ensuring the client’s wishes are followed.

Read More: What Has To Go Through Probate In Georgia

Setting Up A Trust In Marietta

Estate and trust lawyers assist in setting up a trust, a process with several important steps. 

Here’s the breakdown:

  1. Assessing Client Requirements: The trust attorney’s first task is to understand the client. This is achieved through a meeting where they explore the client’s financial situation, objectives, and needs. Conversations about the client’s family, possessions, and desired distribution of assets also take place.
  2. Recommending the Right Trust: With the collected information, the trust fund attorney suggests the most suitable type of trust. Options may include a revocable trust, which allows changes or termination by the creator, or an irrevocable trust, which can’t be altered without the beneficiaries’ consent. They might also consider a living trust, operational during the creator’s life, or a testamentary trust, which becomes active after the creator’s death. There are also a variety of specialized trusts.
  3. Creating the Trust Agreement: The family trust attorney then crafts the trust agreement. This critical document outlines the conditions of the trust. It identifies the trustee and beneficiaries, defines the trust assets, and sets the rules for asset distribution.
  4. Moving Assets into the Trust: For the trust to be effective, assets need to be legally transferred into it. This process could involve altering titles of properties or designating the trust as the recipient of specific accounts or policies. The trust lawyer ensures this procedure is correctly carried out.
  5. Instructing the Trustee: Once the trust is established, the attorney guides the trustee. They clarify how to manage the assets, maintain records, and handle tax issues.
  6. Ongoing Management and Modifications: The attorney assists in the trust’s ongoing maintenance. They might modify the trust agreement, tackle legal problems, or even dissolve the trust when necessary.

Hiring a trust lawyer guarantees a properly set up trust that meets your:

  • needs
  • goals
  • requirements

Setting up a trust in Georgia is a complex process that needs professional expertise.

Revocable Living Trusts In Marietta

A revocable living trust in Georgia is a legal tool you create to manage your assets. 

You, as the trust creator, can change or cancel this trust at any time.

In a revocable trust, you transfer your assets into the trust’s ownership. 

You can act as the trustee, controlling and managing these assets.

Upon your death, the assets bypass probate in Georgia

This process speeds up the transfer to the beneficiaries. 

It also maintains privacy as the trust details aren’t public records.

However, revocable trusts don’t protect assets from creditors. 

Because you can revoke or change the trust, the law considers the assets as still under your control.

Revocable trusts can be complex. 

It’s important to work with a knowledgeable trust attorney in Marietta.

This ensures your goals are met and the trust is set up correctly.

Irrevocable Trusts In Marietta

An irrevocable trust in Georgia is a legal arrangement where assets are transferred into a trust permanently. 

Once set up, the terms generally cannot be changed or canceled without the permission of the trust’s beneficiary.

The person who creates the trust, known as the grantor, gives up ownership rights to the assets in the trust. 

A trustee, appointed by the grantor, manages these assets for the beneficiaries.

Irrevocable trusts can protect assets from creditors and lawsuits. 

They also reduce estate taxes because the assets in the trust are not considered part of the grantor’s taxable estate.

Despite these benefits, irrevocable trusts require careful planning due to their permanent nature. 

Once assets are placed in an irrevocable trust, the grantor typically cannot retrieve them.

Georgia law governs the creation and management of irrevocable trusts in the state. 

A trust attorney can help you understand these laws and set up the trust correctly.

Read More: Who Owns The Property In An Irrevocable Trust

Charitable Trusts

Charitable trusts in Marietta are a type of legal arrangement. 

They allow individuals or organizations to donate assets for a charitable cause. 

The trustee manages these assets. 

The benefits can include tax deductions for the donor.

There are two main types of charitable trusts in Marietta:

  • Charitable Remainder Trusts: These provide an income stream to non-charitable beneficiaries, typically the donors themselves, for a certain period. After that, the remaining assets go to a charity.
  • Charitable Lead Trusts: These trusts give an income to a charitable organization for a set period. After that, the remaining assets go to non-charitable beneficiaries, often the donor’s heirs.

Both types offer ways to support charitable causes while also providing potential benefits to the donors and their families. 

Georgia law governs the creation and management of charitable trusts, ensuring they serve their intended purpose.

Marietta Special Needs Trusts

A special needs trust in Georgia is a legal tool designed to benefit individuals with disabilities. 

It holds assets for the beneficiary and provides financial support.

But it does it without disrupting their eligibility for government benefits like:

  • Medicaid 
  • Supplemental Security Income

When setting up this trust, you appoint a trustee. 

The trustee manages the assets and makes distributions for the beneficiary’s needs. 

These needs often include things not covered by government benefits, like:

  • education
  • recreation
  • personal care
  • medical expenses

Georgia trust laws govern the creation and administration of special needs trust

It’s essential to ensure the trust document is correctly drafted and the trust complies with all relevant regulations. 

This way, the trust effectively serves its purpose without jeopardizing the beneficiary’s government aid.

Managing a special needs trust involves:

  • monitoring the trust assets
  • making appropriate distributions
  • filing trust taxes 

If disputes arise, a trust attorney can defend the trust in court.

A special needs trust in Marietta is a vital tool for supporting individuals with disabilities. 

It requires careful setup and management to maximize benefits and maintain compliance with the law.

Read More: How To Protect Parents’ Assets From Nursing Homes

Compliance With Georgia Trust Laws

Our Marietta trust attorneys ensure compliance with Georgia trust laws in several ways:

  • Understanding Georgia Law: Trust attorneys know Georgia’s trust laws inside and out. They understand how to write a valid trust agreement. They know the rules for choosing trustees and beneficiaries. They also understand the rights and responsibilities of trustees and beneficiaries under Georgia law.
  • Drafting the Trust Agreement: Your lawyer will draft the trust agreement to ensure it meets all legal requirements under Georgia law. This includes clearly identifying the grantor (the person creating the trust), the trustee (the person or entity responsible for managing the trust), and the beneficiaries (those who will receive the benefits of the trust).
  • Valid Execution Of The Trust: In Georgia, the creation of a trust requires certain formalities to be followed. For instance, it must be signed by the grantor and witnessed by two or more credible witnesses who are not beneficiaries of the trust. The lawyer ensures these formalities are properly followed.
  • Transfer Of Assets: Your lawyer will help ensure that the transfer of assets into the trust is done correctly and legally. This can be a complex process, especially for certain types of assets like real estate or business interests.
  • Ongoing Compliance: Trust laws can change, and the trust may need to be updated or modified over time to remain in compliance with Georgia law. Your lawyer can help monitor these changes and advise you on any necessary updates.
  • Advising The Trustee: Your lawyer can also advise the trustee on their duties and responsibilities under Georgia law, helping to ensure that they manage the trust’s assets in a way that complies with the law and the terms of the trust agreement.

Georgia Trust Requirements

In Marietta, Georgia, creating a valid trust requires a few key steps:

  • Create The Trust Document: Write a trust document that outlines the details of the trust. It should identify the grantor, the trustee, and the beneficiaries. It should also detail how the trustee should handle the trust assets.
  • Identify The Trust Assets: Determine which assets you’re placing in the trust. This could be anything from real estate to bank accounts to personal belongings.
  • Choose A Trustee: Decide who will manage the trust. This can be you, someone you trust, or a professional trust management company.
  • Sign In Front Of A Notary Public: Sign the trust document in front of a notary public. This is a necessary step for creating a legal trust in Georgia.
  • Have Witnesses: In addition to notarization, Georgia law requires your signature to be witnessed by two people who aren’t beneficiaries of the trust.
  • Transfer The Assets: Once you’ve created the trust document, transfer ownership of your chosen assets into the trust. This typically involves changing the titles of the assets to the name of the trust.
  • Update As Needed: Review the trust regularly and update it as necessary, especially if laws change or your personal circumstances evolve.

Marietta Trust Fund Management

Our trust attorneys in Marietta manage several ongoing responsibilities to ensure smooth trust operations.

This part is optional as the trustee handles this. 

But our Atlanta estate planning law firm offers trustee services for clients. 

Ongoing Trust Responsibilities

We handle the asset distribution to beneficiaries. 

This process involves executing the instructions outlined in the trust document to distribute the assets correctly.

We are responsible for filing trust taxes. 

The trust lawyer prepares and submits necessary tax documents to:

  • avoid penalties 
  • ensure the trust complies with tax laws

Lastly, we deal with legal issues that arise. 

If there are disputes about the trust, the trust and estate attorney steps in. 

They may negotiate a resolution or represent the client in court if necessary. 

The goal is always to protect the client’s interests and the integrity of the trust.

Trust Litigation And Disputes

In case of disputes involving a trust, a trust attorney steps in to represent their client in court. 

The attorney’s role is to prepare a robust case to defend the client’s interests.

If the client is a trustee, the attorney argues on their behalf. 

They aim to uphold the trustee’s actions and decisions, showing they were:

  • in line with the trust’s terms 
  • in the best interest of the beneficiaries

When representing a beneficiary, the attorney seeks to protect the client’s rights to the trust assets.

They may challenge the trustee’s decisions if they appear to harm the beneficiary’s interests.

In situations where the client is contesting the trust, the attorney challenges the validity of the trust itself. 

They might question the circumstances under which the trust was established

This could be things like potential undue influence or lack of capacity of the trust’s creator.

Through these actions, a trust attorney strives to resolve trust disputes effectively, safeguarding their client’s interests.

Choosing The Right Trust Attorney In Marietta

Choosing the right family trust attorney is a crucial decision that can significantly impact your estate planning process. 

This choice will influence the setup, administration, and potential litigation of your trust. 

The following sections detail factors to consider when selecting your trust attorney.

Do I Need A Trust Lawyer In Marietta?

A trust fund attorney can be very beneficial if you’re setting up a trust. 

They understand the complex legalities and can help you navigate them. 

Trusts can be complicated, with different types offering various benefits and drawbacks. 

Attorneys who specialize in Georgia trust laws can advise you on the best type for your situation.

A trust attorney becomes even more critical when you have:

  • substantial assets 
  • a complex family situation

They can help ensure your assets are distributed according to your wishes while minimizing potential disputes and tax implications.

Trust attorneys are also important in trust administration. 

They guide trustees in their duties, helping to manage the trust properly and avoid legal issues.

In the case of disputes or litigation involving the trust, a family trust lawyer is invaluable. 

They can represent your interests, protect your rights, and work towards a resolution.

So, do you need a trust attorney in Marietta? 

If you want peace of mind, expert advice, and professional handling of your trust matters, the answer is yes.

Relevant Experience and Expertise

Trust lawyers must have relevant experience and expertise in trust law. 

Attorneys specializing in trusts:

  • will be up-to-date with the latest legal changes 
  • can offer insightful advice based on their extensive knowledge

Trust law is a complex field with unique rules and regulations. 

It’s not enough for an attorney to be familiar with general law. 

An attorney specializing in trust law will be knowledgeable about:

  • the intricacies of setting up various types of trusts 
  • navigating potential legal hurdles

How Much Does A Trust Attorney Cost?

A trust attorney’s cost varies based on:

  • the complexity of your estate 
  • the services you need 

For a typical trust, the cost is around $2,000. 

For more complex estates requiring specialized planning, the fee starts at $5,000.

And they can increase depending on the intricacy of the work. 

Additionally, for work charged by the hour, the rate is $400. 

This may apply to tasks like trust administration, litigation, or consultation. 

It’s always crucial to discuss fees upfront and understand what services are included in these costs.

Hiring A Trust Attorney In Marietta GA

If you want help from a Marietta trust law firm, fill out the form below. 

At The Hive Law, we understand the importance of:

  • protecting your hard-earned assets 
  • ensuring your family’s future
  • not losing everything to creditors and lawsuits
  • properly (and legally) distributing assets 

We only accommodate a limited number of clients each month.

So don’t miss your opportunity to work with our trust fund lawyers.

Benefits of our trust services:

  • Tailored solutions to fit your unique needs and goals
  • Expert guidance in navigating complex tax and legal matters
  • Preservation of your wealth for future generations
  • Streamlined asset distribution according to your wishes

Avoid the pitfalls of inadequate estate planning strategies:

  • Creditors seizing your assets
  • Lawsuits jeopardizing your family’s financial security
  • Family disputes over inheritance
  • Costly and time-consuming probate processes

Talk soon.

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We serve the following zip codes in Marietta: 30008, 30060, 30062, 30064, 30066, 30067, 30068, 30080, 30144, 30152, 30339.

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