Updated Duration Allowed For Georgia Irrevocable Trusts
June 10th, 2019
Georgia House Bill 122 to change the Rule Against Perpetuities for trusts. Georgia irrevocable trusts are currently limited to a maximum of 90 years. The proposed change will assist families with legacy planning and protection of assets intended to endure for multi-generations by allowing Georgia domiciled trusts to exist for 360 years. Under current la, Georgia residents wanting longer term trusts have to create trusts domiciled in other states.
Bryson Law Firm, P.C., Suwanee, Georgia. Attorney Richard Bryson has over 25 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 firstname.lastname@example.org.