Seeking Advice on Setting Up a Revocable Living Trust in GA

Atlanta, Georgia
Buying & Selling Real Estate
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Seeking Advice on Setting Up a Revocable Living Trust in GA

Leon Lee
Real Estate Investor · Atlanta, GA · Member since 2016 · 286 posts · 67 votes

Hi everyone,

 I'm planning to set up a revocable living trust. My goal is to ensure that if anything unfortunate happens to me before my daughter turns 18, all my properties won’t go through probate and get frozen for up to two years before she can access them.

I have a few questions and would appreciate any advice:

  1. Estate Planning Lawyer Recommendations: Can anyone recommend a good estate planning lawyer in Georgia? Is it essential to have a local lawyer to set up the trust correctly?
  2. Online Services for Trust Setup: Has anyone used online services for setting up a trust? If so, what was your experience?
  3. Asset Protection through LLCs: Some lawyers I've consulted mentioned a package that includes both probate avoidance and asset protection. They suggested putting my properties in 2-3 LLCs and then placing these LLCs in a revocable living trust. Does this strategy effectively contain potential damages (e.g., from lawsuits) within the specific LLC?
  4. Protection from Nursing Home Costs: They also mentioned concerns about Uncle Sam taking my assets to cover nursing home costs. Which part of a revocable living trust can protect me from this?

I’m looking forward to your insights and recommendations. Thanks in advance for your help!

Best regards, Lee

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John Mason
Member since 2024 · 1k+ posts · 351 votes
2y

Legalzoom would do it buy if you want to do consultation etc  does this help
https://sperrlaw.com/estate-planning/revocable-living-trust/

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  • John Mason
    Member since 2024 · 1k+ posts · 351 votes
    2y

    Legalzoom would do it buy if you want to do consultation etc  does this help
    https://sperrlaw.com/estate-planning/revocable-living-trust/

    1Reply
  • Matt Martin
    Atlanta, GA · Member since 2023 · 14 posts · 5 votes
    2y

    Don't cheap out on this. You don't want a problem to arise after you've passed. Each county is different when it comes to probate, and the laws are changing all the time.  Brian Douglas has a lot of great advice about asset protection and taking care of children through estates. You don't want everything to pass to them when they turn 18, however, you do want them to be able to access funds for education or professional use. He can help you plan your estate and structure a trust so that you and your loved ones are protected. Check him out. 

    1Reply
  • Leon Lee
    OP
    Real Estate Investor · Atlanta, GA · Member since 2016 · 286 posts · 67 votes
    2y
    Quote from @Matt Martin:

    Don't cheap out on this. You don't want a problem to arise after you've passed. Each county is different when it comes to probate, and the laws are changing all the time.  Brian Douglas has a lot of great advice about asset protection and taking care of children through estates. You don't want everything to pass to them when they turn 18, however, you do want them to be able to access funds for education or professional use. He can help you plan your estate and structure a trust so that you and your loved ones are protected. Check him out. 

    Hi Matt,

    I actually called Brian and was very impressed with his team member Scott's knowledge regarding living trust and asset protection. I’m not trying to cut costs, as we all know how important this can be. However, I feel their quote is a little pricy to me. 

    I have been referred to another firm previously that charges around $1200, although they have a backlog of over 4 months.

    Thank you again for your information!

    Lee

    1Reply
  • Matt Martin
    Atlanta, GA · Member since 2023 · 14 posts · 5 votes
    2y

    Thanks for following up and sharing with me. Good luck! 

    0Reply
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