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Disadvantages of a Revocable Living Trust These include: Not for All Assets – Certain assets like IRAs, 401(k)'s, profit sharing accounts, and other things that have designated beneficiaries shouldn't typically be placed in a revocable living trust.

Disadvantages of a Revocable Living Trust These include: Not for All Assets – Certain assets like IRAs, 401(k)'s, profit sharing accounts, and other things that have designated beneficiaries shouldn't typically be placed in a revocable living trust.

Disadvantages of Putting Your House in a Trust Loss of Direct Ownership. Potential Complexity and Administrative Burden. Potential for Increased Costs. No Asset Protection Benefits. Limited Tax Advantages. No Protection Against Creditors.

In Georgia, a valid will must be in writing and signed by either the person making the will or someone designated by the person making the will. It does not have to be notarized or submitted to a probate court in advance. A will prepared in another state may be valid in Georgia if it meets certain requirements.

There is no requirement to use an attorney to create your will. However, because a will is a legal document that goes through probate court, you want to ensure that your will is valid and enforceable. State-specific will forms let you easily create a will meeting Georgia requirements.

In Georgia, for instance, a smaller estate might be better served by a will due to its simplicity and lower upfront costs. However, individuals with larger estates might prefer a trust for its potential to avoid probate and provide privacy.

Putting Real Estate Into a Trust Since title to real estate is evidenced by a deed, transferring a home into a trust can only be accomplished by executing and recording a new deed that transfers title of the property to the trust. Specific legal requirements apply to executing and recording a real estate deed.

One disadvantage of placing your house in a trust is the loss of direct ownership. Transferring your property to a revocable living trust makes the trust the legal owner. While you retain control as the trustee, this change in ownership may affect your ability to mortgage or refinance the property.

Trustee: The trustee (trust manager) must be 18 years of age or older, have mental capacity and willing to take on the duties associated with managing the trust. Notary: Georgia requires a trust to be notarized for it to be considered legally valid.