Estate planning in Georgia isn’t just about deciding who gets what when you’re gone — it’s about protecting your assets, reducing legal hassle, and ensuring your loved ones are cared for. One of the most important decisions you’ll make in this process is whether to create a revocable or irrevocable trust. While both serve to hold and distribute assets, they function very differently under Georgia law, each with unique benefits and limitations.
What Is a Trust, and Why Does It Matter in Georgia?
A trust is a legal arrangement where one person (the grantor) places assets under the control of another (the trustee) to benefit a third party (the beneficiary). Trusts can help families avoid probate, manage assets during incapacity, and ensure a smooth transfer of property.
In Georgia, trusts are governed by the Georgia Trust Code, part of the broader Uniform Trust Code, which offers flexibility but also clear legal boundaries. Whether you choose a revocable or irrevocable trust depends largely on your goals — control, protection, privacy, or tax planning.
Understanding Revocable Trusts in Georgia
A revocable trust (often called a living trust) is highly flexible. The person who creates the trust retains full control over the assets during their lifetime and can amend or revoke it at any time. In practical terms, it feels like owning your assets outright — but with the added benefit of smoother estate management.
Key advantages of revocable trusts:
- Avoids probate: Assets pass directly to beneficiaries without court involvement.
- Maintains privacy: Unlike wills, revocable trusts aren’t part of the public record.
- Manages incapacity: If you become unable to manage your affairs, your successor trustee can step in immediately.
However, revocable trusts do not protect your assets from creditors or lawsuits, and everything inside the trust is still considered part of your estate for tax purposes.
The Power of Irrevocable Trusts
An irrevocable trust, on the other hand, is not easily changed or dissolved once created. When you place assets into an irrevocable trust, you are legally giving them away — you no longer own them, and you typically cannot make changes without court approval or consent from all beneficiaries.
So why would anyone do this?
Because of what you gain in return:
- Asset protection: Creditors cannot access what you no longer legally own.
- Estate tax advantages: Irrevocable trusts can reduce or eliminate estate taxes for high-net-worth families.
- Medicaid planning: In Georgia, assets placed in certain irrevocable trusts may be exempt when applying for long-term care under Medicaid rules.
But there’s a trade-off. You lose direct control of the assets, and the trust’s terms must be carefully crafted from the start. For many clients, we recommend combining irrevocable strategies with more flexible tools for balance.
How Georgia Law Influences Your Choice
Georgia’s probate process is relatively streamlined compared to other states, but even here, avoiding it can save your family time, legal fees, and stress. That’s why revocable trusts are a smart choice for many Georgia residents.
However, if you have significant assets, are concerned about future liability, or are planning for long-term care, Georgia’s Medicaid eligibility rules make irrevocable trusts a valuable strategic tool — especially when structured with a five-year lookback period in mind.
Which Trust Is Right for You?
Ultimately, choosing between a revocable and irrevocable trust comes down to your goals, assets, and risk profile. If you value control and flexibility, a revocable trust may be your best bet. If your priority is protection, tax savings, or Medicaid eligibility, an irrevocable trust may be necessary.
In many cases, the most effective estate plans in Georgia use a combination of both — building in flexibility where needed, while still creating legal protections for your legacy.
Need Help Creating a Trust in Georgia? Let’s Talk.
At Graham Estate Planning, we work with individuals and families across Georgia to create tailored estate plans that reflect their values, minimize legal complications, and protect what matters most.
If you’re unsure which type of trust is right for you — or if you need to review your current plan — our experienced team is here to help.
Schedule a Consultation today to discuss your options and take the next step in securing your legacy.
