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Este archivo contiene el formulario de fideicomiso en vida preparado para su estado.
Para su conveniencia, debajo del texto en español le brindamos la versión completa de este formulario en inglés.
For your convenience, the complete English version of this form is attached below the Spanish version.
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Interesting Questions
A living trust is a legal document created during a person's lifetime to hold their assets and distribute them to beneficiaries upon their death.
The purpose of a living trust is to avoid probate, provide privacy, and allow for the efficient transfer of assets to beneficiaries after the grantor's death.
In Georgia, any individual who is at least 18 years old and competent can be a trustee of a living trust.
Yes, a living trust in Georgia can have multiple trustees. Having two trustees is common and can provide checks and balances.
The trustees have a duty to manage and distribute the trust assets according to the terms of the trust document, act in the best interest of the beneficiaries, and follow any specific instructions provided by the grantor.
Generally, major decisions regarding the living trust require the agreement of both trustees. However, the trust document may specify if one trustee has the power to act independently in certain situations.
If one trustee becomes incapacitated or unable to fulfill their duties, the remaining trustee can usually continue managing the trust. It's essential to have successor trustees named in the trust document to handle such situations.
In Georgia, a trustee can be removed or replaced if there is a valid reason, such as maladministration or breach of trust. However, it usually requires court approval.
Having two trustees in a living trust can provide a system of checks and balances, ensuring decisions are made in the best interest of the beneficiaries. It can also minimize the chances of one trustee mismanaging or misusing the trust assets.
When both trustees of a living trust pass away, a successor trustee (named in the trust document) takes over the administration and distribution of the trust assets. It's crucial to have alternate trustees appointed to avoid any complications.
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