Trust Planning for New Parents

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Becoming a parent changes everything. Suddenly, you are thinking about the future in ways you never did before. You want to make sure your child is protected no matter what. That is where trust planning comes in. At Slowik Estate Planning, our Atlanta, Georgia law firm helps new parents build a solid plan that protects their children and their assets. This page will walk you through what you need to know about trust planning as a new parent in Georgia.

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Why New Parents in Atlanta Need a Trust

You just brought a new life into the world. The last thing you want to think about is worst-case scenarios. But the truth is, planning now is one of the most loving things you can do for your child. A trust gives you control over what happens to your assets if something happens to you. Without one, a Georgia court may decide how your money is managed and when your child receives it.

Under Georgia law, specifically O.C.G.A. Title 53, Chapter 12, the Revised Georgia Trust Code of 2010 governs how trusts are created, administered, and enforced in this state. This law gives parents broad flexibility to set up trusts that reflect their exact wishes. You can decide who manages the money, how it is spent, and at what age your child receives a full distribution.

Think about it this way. If you pass away without a trust, and your child is a minor, a court will likely appoint a conservator to manage any inheritance. That conservator will answer to the court, not to you. The court will also hand over everything to your child when they turn 18, whether they are ready for it or not. A trust prevents that from happening. You stay in control, even after you are gone.

New parents often assume a will is enough. A will can name a guardian for your child, which is critical. But a will alone does not avoid probate, and it does not give you the same level of control over how and when your child receives assets. A trust works alongside your will to give your family a complete plan. If you are a new parent in Atlanta and you do not have a trust in place, now is the time to act. Contact Slowik Estate Planning, an estate planning attorney in Atlanta, to get started today.

Choosing the Right Type of Trust for Your Family

Not all trusts work the same way. As a new parent, you have a few solid options to consider. The most common choice for Georgia families is a revocable living trust. Also called “living trusts” or “revocable living trusts,” Georgia revocable trusts under O.C.G.A. § 53-12-40 are perhaps the most common type of trust and a trouble-free will alternative. These trusts can accomplish what a will would accomplish, but without the probate process and public court records. That means your family avoids delays and keeps your financial details private.

With a revocable living trust, you remain in full control while you are alive. You can change it, add assets to it, or revoke it entirely if your situation changes. The revocable living trust comes into existence as soon as it is signed, before you become incapacitated or pass away. This means your minor child will be cared for even if you become incapacitated. That is a major advantage over a testamentary trust, which only kicks in after your death and after your will goes through probate.

A testamentary trust is another option. A testamentary trust is a trust that is funded and comes into existence only after the maker has died. Testamentary trusts may be created by a will or living trust. A testamentary trust allows the maker to have more control over the management and distribution of his or her property after death. For example, parents often establish a testamentary trust for the benefit of their minor children through which the trustee manages the assets and disbursement of money to the children until the children reach a certain age.

However, there is a drawback. Testamentary trusts are not funded until the will has been probated, and that takes time. Also, if you happen to become injured and unable to handle your own affairs, the trust still will not go into effect until the will has been probated, potentially leaving your minor child without care. Because the will must be probated, your affairs become public record, which also means everyone can see what your child is inheriting.

For most new parents in Atlanta, a revocable living trust is the stronger choice. It is flexible, private, and effective. The team at Slowik Estate Planning can help you decide which trust fits your family’s needs and goals. Our office is located in Atlanta, Georgia, and we are ready to help you build a plan that works.

Naming a Trustee and Guardian for Your Child

One of the most important decisions you will make in your trust plan is choosing who will manage your child’s assets and who will raise your child if you cannot. These are two separate roles, and they do not have to be the same person. In fact, many estate planning attorneys recommend keeping them separate to create a natural system of checks and balances.

The trustee is the person or institution responsible for managing the assets inside your trust. Under O.C.G.A. Title 53, Chapter 12, Article 11, Georgia law spells out the duties and responsibilities of a trustee. Your trustee must act in the best interest of your child as a trust beneficiary. That includes managing investments prudently, keeping accurate records, and making distributions according to the terms you set in the trust document.

Choose a trustee who is financially responsible, organized, and trustworthy. This could be a family member, a close friend, or even a professional trustee such as a bank or trust company. Think carefully about this choice. A trustee who is not prepared for the job, or who gets caught up in family conflict, can create real problems for your child down the road.

The guardian is a different role entirely. This is the person who will raise your child if both parents are gone. Georgia courts give strong weight to the parents’ wishes when appointing a guardian, but the court still has the final say. The court has discretion to appoint a guardian in the minor’s best interest, but great consideration is given to who the parents want the guardian to be. Name your preferred guardian clearly in your will and discuss it with them beforehand. Do not leave this to chance.

You should also name a successor trustee and an alternate guardian, just in case your first choices are unable or unwilling to serve. Life changes, and your plan should account for that. Slowik Estate Planning helps new parents in Atlanta think through all of these decisions carefully, so every role in your plan is filled by the right person.

Trump Accounts: A New Tool for New Parents in 2026

If you have a child born between January 1, 2025, and December 31, 2028, there is a new federal savings tool worth knowing about. The Department of the Treasury and the Internal Revenue Service issued a notice announcing upcoming regulations and providing guidance regarding Trump Accounts, which are a new type of individual retirement account for eligible children. These accounts were created under the One Big Beautiful Bill Act, which was signed into law on July 4, 2025.

The Working Families Tax Cuts provides for establishing a Trump Account on behalf of every eligible child for whom an election is made, generally by a parent or guardian, and who has not turned age 18 before the end of the calendar year in which the election is made. The federal government will make a one-time $1,000 pilot program contribution to the Trump Account of each eligible child for whom an election is made, who is a U.S. citizen and who is born on or after January 1, 2025, through December 31, 2028.

Trump Accounts will be established in 2026 and no contributions can be made until July 4, 2026. These new accounts will function like traditional individual retirement accounts for eligible minors and are generally subject to an aggregate annual contribution limit of $5,000, subject to a cost-of-living adjustment after 2027. An employer may contribute to a Trump Account of the employee or the employee’s dependent up to $2,500 per year under an employer’s Trump Account contribution program, and the contribution will not count toward the employee’s taxable income.

Until the child turns 18, no distributions are allowed at all from a Trump Account. Once they reach 18, the normal rules for Traditional IRAs apply. That means, if your child takes a distribution before age 59½, the distribution will be subject to a 10% penalty unless an exception applies. Funds must be invested in mutual funds or exchange-traded funds that track a U.S. stock index, such as the S&P 500.

Trump Accounts are not a replacement for a trust. They are a savings tool that can work alongside your broader estate plan. Think of them as one piece of a larger puzzle. A well-drafted trust can actually name a Trump Account as part of your child’s overall financial picture. Slowik Estate Planning can help you understand how these new accounts fit into your family’s estate plan.

Protecting Your Child Through Spendthrift and Discretionary Trusts

Leaving money directly to a child is rarely the best idea, even when they are adults. Young adults often lack the financial experience to manage a large inheritance responsibly. That is why many parents in Atlanta use spendthrift and discretionary trust provisions to add an extra layer of protection for their children’s inheritance.

Under O.C.G.A. Title 53, Chapter 12, Article 5, Georgia law specifically recognizes spendthrift and discretionary trusts. A spendthrift provision prevents a beneficiary from transferring their interest in the trust to someone else, and it also protects trust assets from the beneficiary’s creditors. In plain terms, if your child has debt problems or ends up in a lawsuit, a spendthrift trust can shield the assets you worked hard to leave behind.

A discretionary trust gives the trustee the power to decide when and how much to distribute to your child. You can set guidelines in the trust document. For example, you might say distributions can be made for education, health, and living expenses, but not for luxury purchases. You can also stagger distributions by age. Many parents choose to release a portion of the trust at age 25, another portion at 30, and the remainder at 35. This approach gives your child time to mature before receiving full control of the funds.

You can also combine these features. A trust can be both spendthrift and discretionary at the same time. That combination gives your trustee real power to protect your child’s inheritance from outside threats and from the child’s own poor decisions in early adulthood. It is one of the most powerful tools available under Georgia trust law.

Proper trust administration is just as important as the drafting itself. Once a trust is created, the trustee must follow the terms carefully and in compliance with Georgia law. Slowik Estate Planning can help with every step of this process, from drafting the trust to guiding trustees through their responsibilities. And if you have pets you want to protect as well, we also help families with pet guardianships as part of a complete estate plan.

Do not wait until something goes wrong to put a plan in place. Contact Slowik Estate Planning in Atlanta, Georgia today to schedule a consultation. We will help you build a trust plan that truly protects your child’s future. Results in estate planning depend on each family’s unique facts and circumstances. Prior results do not guarantee similar outcomes.

FAQs About Trust Planning for New Parents in Atlanta, Georgia

What is the difference between a will and a trust for new parents in Georgia?

A will tells the court what you want to happen to your assets after you die, but it must go through probate first. A trust, on the other hand, can take effect immediately and avoids the probate process entirely. For new parents, a trust allows a trustee to manage and distribute assets for your child without court involvement or delays. Under O.C.G.A. Title 53, Chapter 12, Georgia law gives parents wide flexibility to customize a trust to fit their family’s exact needs. Most estate planning attorneys recommend using both a will and a trust together for a complete plan.

At what age will my child receive the assets from a trust in Georgia?

You get to decide this when you create the trust. There is no single required age under Georgia law. Many parents choose to distribute assets in stages, such as a portion at age 25, another at 30, and the rest at 35. This approach prevents a young adult from receiving a large sum all at once before they are financially ready. Your trust document will spell out the exact terms, and your trustee is legally required to follow them. This is one of the biggest advantages a trust has over leaving assets outright in a will.

Can I be the trustee of my own trust in Georgia?

Yes. With a revocable living trust, you can serve as your own trustee while you are alive and capable. You manage your assets just as you always have. You simply name a successor trustee, someone who steps in if you become incapacitated or pass away. That successor trustee then manages and distributes assets for your child according to the terms you set. Georgia law under O.C.G.A. Title 53, Chapter 12 fully supports this arrangement. It is a common and practical setup for new parents who want to stay in control while still having a solid plan in place.

What is a Trump Account, and how does it fit into my child’s estate plan?

A Trump Account is a new type of tax-deferred savings account for children, created by the One Big Beautiful Bill Act signed into law on July 4, 2025. Parents, guardians, family members, and employers can contribute up to $5,000 per year, and the federal government will deposit a one-time $1,000 into accounts for children born between January 1, 2025, and December 31, 2028. Contributions cannot begin until July 4, 2026. The account grows tax-deferred and follows traditional IRA rules once the child turns 18. A Trump Account is a savings tool, not a substitute for a trust. It works best as one part of a broader estate plan that includes a trust, a will, and other protective documents.

Do I need an attorney to create a trust in Georgia, or can I use an online form?

While online forms exist, they carry real risks. A trust that is poorly drafted or improperly funded may fail to protect your child at all. Georgia trust law is specific about what makes a trust valid and enforceable under O.C.G.A. Title 53, Chapter 12. A trust also needs to be properly funded, meaning your assets must actually be transferred into the trust for it to work. An online form cannot account for your family’s unique situation, your child’s specific needs, or changes in Georgia law. Working with an attorney at Slowik Estate Planning in Atlanta, Georgia ensures your trust is done right the first time.

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