Legal Question in Real Estate Law in Georgia
Restating a trust
IN 1996, MY FRIEND PUT HER HOME INTO A REVOKABLE TRUST DEED IN HER SON'S NAME, THE SON HAS SINCE DEVELOPED PARKINSON'S DISEASE AND IS UNABLE TO ACT ON HER BEHALF. HOW CAN SHE RESTATE THE TRUST AND NAME HER GRANDSON AS THE TRUSTEE. I HAVE HEARD THAT IT IS MUCH SIMPLIER TO RESTATE THE TRUST THAN TO REVOKE THE ENTIRE TRUST. IF ANYONE HAS SAMPLE FORMS TO BEGIN THE RESTATING PROCESS, PLEASE FORWARD THEM TO ME VIA EMAIL AT [email protected]. thank you
3 Answers from Attorneys
Re: Restating a trust
Estate planning always needs to be achieved with consideration of all known circumstances and those that can be predicted with some degree of accuracy. If your friend needs to revise her estate based on changed circumstances, then she needs to involve an attorney to look at the big picture and develop safe, prudent options. I am a nurse-attorney experienced in assisting elderly and disabled clients. Your friend may contact me in the event that she is not already working with someone else.
Re: Restating a trust
Unless you think that the house and other property, and the short and long term financial affairs of your friend, are essentially worthless, the matters will not be handled via a "sample form" emailed to you (which a lawyer would not do anyway). Moreover, if the friend can't handle her affairs, she is likely incompetent to transfer any property anyway. The best advice you can give the friend or her immediate family is that they immediately see an elder law expert (regardless of age). That does not mean a lawyer who claims to do that as one of many practice areas to get people in the door - it means someone who handles these every day and will know how to proceed as soon as possible, perhaps before incompetency sets in.
Re: Restating a trust
You have too many issues to deal with in this typ of forum. Consult with a local attorney.