Legal Question in Wills and Trusts in Georgia
What's next ?
My father had a revocable trust set-up prior to his death, my mother has all the properties and assets now, as designed by the trust. What should my brother and I do to prepare for the future ? Should the trust be replaced with something else? My mother is 75 yrs of age and in good health.
Thanks
2 Answers from Attorneys
Re: What's next ?
Your question is more complicated than you think. I would recommend that you first talk with your mother's CPA to see if she would benefit from such a trust. Many of these trusts are unnecessary. Also, the answer to your question will depend on the size of her estate.
Re: What's next ?
Was your father acting on the advice of his estate planning attorney when he set up the revocable trust? If so, there were probably important reasons for the trust that would still be valid today. Normally such a trust is revocable during the lifetime of the grantor (your father) but essentially becomes irrevocable after his death - so you may not be able to terminate or change it, including the ability to change the dispositive provisions after your mother's passing. If you have the trust document and are concerned about one or more of its provisions, seek the review and advice of a professional.
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