History. Code 1981, § 53-12-61 , enacted by Ga. L. 2010, p. 579, § 1/SB 131; Ga. L. 2018, p. 262, § 7/HB 121; Ga. L. 2020, p. 377, § 1-76/HB 865.
The 2020 amendment, effective January 1, 2021, deleted “, consolidate, divide,” following “power to modify” in subsection (a); in subsection (b), in the first sentence in the introductory language, substituted “an irrevocable trust” for “a noncharitable irrevocable trust” and substituted “qualified beneficiaries” for “the beneficiaries”; substituted “provisions” for “terms” in paragraph (b)(1); substituted “an irrevocable trust if all qualified beneficiaries” for “a noncharitable irrevocable trust if all the beneficiaries” in paragraph (c)(1) and in paragraph (c)(2); inserted “trust director,” in the first and second sentences in subsection (e); in subsection (f), substituted “No later than 30 days after filing the petition for modification or termination, notice” for “Notice” at the beginning and substituted “if living, the trustee, any trust director, all qualified beneficiaries” for “the trustee, all the beneficiaries”; and added subsections (j) through (n).
Law reviews.
For article on the 2018 amendment of this Code section, see 35 Ga. St. U. L. Rev. 219 (2018).
For annual survey on wills, trusts, guardianships, and fiduciary administration, see 70 Mercer L. Rev. 275 (2018).
For article, “To Tax or Not to Tax: State Income Tax on Trusts After North Carolina Department of Revenue v. The Kimberly Rice Kaestner 1992 Family Trust,” see 25 Ga. St. B.J 26 (Feb. 2020).
For article with annual survey on wills, trusts, guardianships, and fiduciary administration, see 73 Mercer L. Rev. 281 (2021).