Trust Me! New Opportunities for the use of Trusts under Tax Reform and Georgia's 2018 Trust Code Revisions
The 2017 Tax Cuts and Jobs Act opens a whole range of enticing opportunities for creative use of trusts, and the just-enacted revisions to the Georgia Trust Code dramatically change the rules governing trusts in this State. Among the topics covered will be the opportunities presented by Georgia's new "decanting" statute, its expanded Rule Against Perpetuities, plus two entirely new types of trusts in Georgia: The "Self-Settled Asset Protection Trust" and the "Directed Trust." Additionally, the presenters will discuss the use of trusts to maximize income tax benefits under the new Tax Act, including exemptions under new Section 199A, reducing state income taxation, and maximizing income tax basis step-up benefits.