House Bill 122 introduced in the Georgia General Assembly in week 2 of the Legislative Session proposes to expand the number of years a trust may hold assets. Currently, the limitation is 90 years. This duration is not an issue when the objective is to hold assets in trust for children and grandchildren; however, beyond that that trust would likely violate the “rule against perpetuity.” Under the proposal in HB 122, the duration would be expanded to match Florida at 360 years.
For more information on or questions on asset protection and how this information may apply to you or loved ones, please contact Bryson Law Firm, P.C. at (404) 909-8842 or email firstname.lastname@example.org.
Bryson Law Firm, P.C., Suwanee, Georgia. Attorney Richard Bryson has over 20 years experience with investment entities, elder law, estate planning, probate, wills and trusts, tax planning, tax dispute resolution, asset protection, personal injury, business formation and governance, real estate transactions, and Medicaid and VA planning. Contact our Gwinnett County law firm at 404-909-8842 or email@example.com.