Georgia Code
Title 53 - Wills, Trusts, and Administration of Estates
Chapter 12 - Trusts

§ 53-12-8. Notice to Person Permitted to Bind Another Person; Consent on Behalf of Another Person; Representation of Others - History. Code 1981, § 53-12-8 , enacted by Ga. L....

§ 53-12-9. Binding Nonjudicial Settlement Agreement - History. Code 1981, § 53-12-9 , enacted by Ga. L....

Article 2 - Creation and Validity of Express Trusts

§ 53-12-20. Express Trusts - History. Code 1981, § 53-12-20 , enacted by Ga. L....

§ 53-12-21. Formal and Precatory Words - History. Code 1981, § 53-12-21 , enacted by Ga. L....

§ 53-12-22. Trust Purposes and Conditions in Terrorem - History. Code 1981, § 53-12-22 , enacted by Ga. L....

§ 53-12-23. Capacity of Settlor - A person has capacity to create an inter vivos trust...

§ 53-12-24. Non-Merger - No trust shall be invalid or terminated and no merger...

§ 53-12-25. Transfer of Property in Trust - History. Code 1981, § 53-12-25 , enacted by Ga. L....

§ 53-12-26. Additions to Trust Property - Property may be added to an existing trust from any...

§ 53-12-27. Construction; Parol Evidence - When the construction of an express trust is at issue,...

§ 53-12-28. Trusts for Animals - History. Code 1981, § 53-12-28 , enacted by Ga. L....

Article 3 - Revocable Trusts

§ 53-12-40. Revocation and Modification Generally - History. Code 1981, § 53-12-40 , enacted by Ga. L....

§ 53-12-41. Trustee’s Consent Necessary to Enlarge Duties - In exercising a power to modify the trust instrument, the...

§ 53-12-42. Notice to Trustee - A trustee shall not be liable for failing to act...

§ 53-12-43. Power of Agent or Conservator to Revoke Trust - History. Code 1981, § 53-12-43 , enacted by Ga. L....

§ 53-12-44. Trust Not Revocable Because Life Estate Holder Has Reversion - No trust shall be considered to be revocable merely because...

§ 53-12-45. Limitation on Action Contesting Validity of Revocable Trust - History. Code 1981, § 53-12-45 , enacted by Ga. L....

Article 4 - Reformation, Modification, Division, Consolidation, and Termination of Trusts

§ 53-12-60. Reformation to Correct Mistakes - History. Code 1981, § 53-12-60 , enacted by Ga. L....

§ 53-12-61. Power to Direct Modification or Termination; Petition to Modify or Terminate Irrevocable Trust; Proceeding to Approve Proposed Modification or Termination; Distribution of Trust Property Under Order for Termination; Waiver of Notice - History. Code 1981, § 53-12-61 , enacted by Ga. L....

§ 53-12-62. Power of Trustee to Invade Principal of Original Trust - History. Code 1981, § 53-12-62 , enacted by Ga. L....

§ 53-12-65. Modification or Termination of Uneconomic Trust - History. Code 1981, § 53-12-65 , enacted by Ga. L....

Article 5 - Spendthrift Provisions and Creditors’ Rights and Claims

§ 53-12-80. Spendthrift Provisions - The ability of a creditor or assignee to reach a...

§ 53-12-81. Limitations on Creditors’ Rights to Discretionary Distributions - A transferee or creditor of a beneficiary shall not compel...

§ 53-12-82. Rules for Trusts; Consideration of Assets of an Inter Vivos Marital Trust Following Death - (A) “Inter vivos marital trust” means: (i) A trust described...

§ 53-12-83. Creditors’ Claims Against Property That Is Subject to Withdrawal Right - The holder of a power of withdrawal, during the period...

Article 6 - Testamentary Additions to Trusts

Part 1 - Testamentary Additions to Trusts

§ 53-12-100. Short Title - This part shall be known and may be cited as...

§ 53-12-101. Making of Testamentary Additions to Trusts - History. Code 1981, § 53-12-101 , enacted by Ga. L....

§ 53-12-102. Limitations of Duties and Responsibilities of Trustee - The trustee of a trust established by the testator or...

§ 53-12-103. Effect on Prior and Subsequent Wills - This part shall apply to all devises or bequests made...

Part 2 - Trusts as Beneficiaries

§ 53-12-120. Trusts as Beneficiaries - A trust under a testator’s will may be designated as...

Article 7 - Implied Trusts

§ 53-12-130. Resulting Trusts - A resulting trust is a trust implied for the benefit...

§ 53-12-131. Purchase Money Resulting Trusts - History. Code 1981, § 53-12-131 , enacted by Ga. L....

§ 53-12-132. Constructive Trusts - History. Code 1981, § 53-12-132 , enacted by Ga. L....

§ 53-12-133. Parol Evidence and Implied Trusts - In all cases in which a trust is sought to...

Article 8 - Creation by Deed to Acquire Beneficial Interest

§ 53-12-150. Definitions - As used in this article, the term: History. Code 1981,...

§ 53-12-151. Deeds to Interests in Property - The owners of property located in this state or persons...

§ 53-12-152. Filing of Deeds and Amendments Thereto; Filing of Copies With Secretary of State - STATE OF GEORGIA OFFICE OF THE SECRETARY OF STATE Click...

§ 53-12-153. Name of Trust - If the deed creating a trust estate under Code Section...

§ 53-12-154. Certificates of Beneficial Interest by Trustees - When an estate is created pursuant to Code Section 53-12-151...

§ 53-12-155. Duties and Powers of Trustees; Resignation or Removal; Successor Trustees - The trustee of a trust created under Code Section 53-12-151...

§ 53-12-156. Investments by Trustees - In addition to investments in any property, the trustee of...

§ 53-12-157. Initial and Annual Returns - Each trust created pursuant to this article shall make a...

§ 53-12-158. How Title Vests on Termination of Estate - Upon the termination of the estate created under Code Section...

§ 53-12-159. Merger of Trust Into a Domestic Corporation - History. Code 1981, § 53-12-159 , enacted by Ga. L....

Article 9 - Charitable Trusts

§ 53-12-170. Definition; Charitable Purposes - History. Code 1981, § 53-12-170 , enacted by Ga. L....

§ 53-12-171. Power to Select Purposes or Beneficiaries - The settlor of a charitable trust may retain the power...

§ 53-12-172. Cy Pres - If a charitable trust or gift cannot be executed in...

§ 53-12-173. Duration of Charitable Trusts - A charitable trust shall be valid even though under the...

§ 53-12-174. Attorney General or District Attorney as Representative of Charitable Beneficiaries - In all cases in which the rights of beneficiaries under...

§ 53-12-175. Enforcement by Settlor - The settlor of a charitable trust may maintain a civil...

Article 10 - Private Foundations

Part 1 - Corporations

§ 53-12-180. Automatic Amendment of Articles of Incorporation of Corporate Private Foundation - Notwithstanding any provision therein to the contrary and except as...

§ 53-12-181. Amendment of Articles of Incorporation to Exclude Application of Code Section 53-12-180 - Any corporation which is a private foundation may amend its...

§ 53-12-182. Effect of Code Sections 53-12-180 and 53-12-181 as to Forfeiture or Reversion of Trust Property - Nothing contained in Code Sections 53-12-180 and 53-12-181 shall cause...

§ 53-12-183. Election of Private Foundation to Distribute Such Property as Will Enable Corporation to Avoid Tax Liability - With respect to property held by a corporation which is...

§ 53-12-184. Effect of Code Sections 53-12-180 Through 53-12-183 on Powers of the Courts or the Attorney General - Nothing in Code Sections 53-12-180 through 53-12-183 shall impair the...

Part 2 - Trusts

§ 53-12-190. Automatic Amendment of Governing Instrument of Private Foundation Trust, Charitable Trust, or Split-Interest Trust - Notwithstanding any provision therein to the contrary and except as...

§ 53-12-191. Automatic Amendment of Governing Instrument of Private Foundation Trust or Charitable Trust as to Distribution of Trust Funds - Notwithstanding any provision therein to the contrary and except as...

§ 53-12-192. Amendment of Governing Instrument of Private Foundation Trust, Charitable Trust, or Split-Interest Trust to Exclude Application of Code Section 53-12-190 or 53-12-191 - The trustees of any trust which is a private foundation,...

§ 53-12-193. Election of Trustees of Private Foundation or Charitable Trust to Distribute Such Trust Principal as Will Enable Trust to Avoid Tax Liability; Filing of Written Election With Attorney General; Form of Distribution; Revocation of Election - History. Code 1981, § 53-12-193 , enacted by Ga. L....

§ 53-12-194. Effect of Code Sections 53-12-190 Through 53-12-193 as to Forfeiture or Reversion of Trust Property or Failure of Trust - Nothing contained in Code Sections 53-12-190 through 53-12-193 shall cause...

§ 53-12-195. Effect of Code Sections 53-12-190 Through 53-12-193 on Powers of Courts and Attorney General - Nothing in Code Sections 53-12-190 through 53-12-193 shall impair the...

Article 11 - Trustees

Part 1 - Appointment and Acceptance

§ 53-12-200. Capacity of Trustee - A trustee shall have legal capacity under Georgia law to...

§ 53-12-201. Appointment and Vacancies - History. Code 1981, § 53-12-201 , enacted by Ga. L....

§ 53-12-202. Acceptance - History. Code 1981, § 53-12-202 , enacted by Ga. L....

§ 53-12-203. Trustee’s Bond - History. Code 1981, § 53-12-203 , enacted by Ga. L....

§ 53-12-204. Cotrustees Generally - The authority of cotrustees to act on behalf of the...

Part 2 - Trustee Compensation

§ 53-12-210. Compensation of Trustee - Click to view If the cash and market value of...

§ 53-12-211. Compensation of Cotrustees and Successor Trustees - Unless any separate written agreement provides otherwise: History. Code 1981,...

§ 53-12-212. Extra Compensation - History. Code 1981, § 53-12-212 , enacted by Ga. L....

§ 53-12-213. Reimbursement of Expenses - A trustee shall be entitled to be reimbursed out of...

§ 53-12-214. Compensation From Business Enterprise - History. Code 1981, § 53-12-214 , enacted by Ga. L....

Part 3 - Resignation and Removal

§ 53-12-220. Resignation of Trustee - History. Code 1981, § 53-12-220 , enacted by Ga. L....

§ 53-12-221. Removal of Trustee - History. Code 1981, § 53-12-221 , enacted by Ga. L....

Article 12 - Accounting by Trustee

§ 53-12-230. Interim Accounting - History. Code 1981, § 53-12-230 , enacted by Ga. L....

§ 53-12-231. Final Accounting - History. Code 1981, § 53-12-231 , enacted by Ga. L....

§ 53-12-232. Equitable Accounting - Nothing in this article shall restrict the right of any...

Article 13 - Trustees’ Duties and Powers

Part 1 - Duties of Trustee

§ 53-12-240. Duties Generally - History. Code 1981, § 53-12-240 , enacted by Ga. L....

§ 53-12-241. Duty of Prudent Administration - History. Code 1981, § 53-12-241 , enacted by Ga. L....

§ 53-12-242. Duty to Inform as to Existence of Trust - History. Code 1981, § 53-12-242 , enacted by Ga. L....

§ 53-12-243. Duty to Provide Reports and Accounts - History. Code 1981, § 53-12-243 , enacted by Ga. L....

§ 53-12-244. Duty to Distribute Income - A trustee shall distribute all net income derived from the...

§ 53-12-245. No Duty to Investigate Resources - A trustee shall not be under any duty to investigate...

§ 53-12-246. Duty to Avoid Conflict of Interest - History. Code 1981, § 53-12-246 , enacted by Ga. L....

§ 53-12-247. Duty of Impartiality - Except to the extent that the governing trust instrument clearly...

Part 2 - Trustees’ Powers

§ 53-12-260. Discretionary Powers - Notwithstanding the breadth of discretion granted to a trustee in...

§ 53-12-261. Powers of Trustee; Limitation Based on Fiduciary Duties - In all cases in which the fiduciary is required to...

§ 53-12-262. Powers of Corporate Fiduciaries - A corporate fiduciary, without authorization by the court, may exercise...

§ 53-12-263. Incorporation of Powers by Reference - History. Code 1981, § 53-12-263 , enacted by Ga. L....

§ 53-12-264. Granting of Powers by Qualified Beneficiaries - The qualified beneficiaries of a trust that omits any of...

Part 3 - Trustee as Beneficiary

§ 53-12-270. Exercise of Power by Trustee Who Is Also a Beneficiary - History. Code 1981, § 53-12-270 , enacted by Ga. L....

Part 4 - Certification of Trusts

§ 53-12-280. Certification of Trust by Trustee - History. Code 1981, § 53-12-280 , enacted by Ga. L....

Part 5 - Registration and Deposit of Securities

§ 53-12-290. How Securities to Be Registered by Corporate Trustee - Whenever a bank or trust company is duly authorized to...

§ 53-12-291. Registration Where Two or More Fiduciaries Are Acting Jointly - If two or more fiduciaries are acting jointly in reference...

§ 53-12-292. Deposit of Securities in Clearing Corporation - History. Code 1981, § 53-12-292 , enacted by Ga. L....

Article 14 - Trustee Liability

§ 53-12-300. Accountable to Beneficiary; Breach of Trust - The trustee shall be accountable to the beneficiary for the...

§ 53-12-301. Actions for Breach of Trust - History. Code 1981, § 53-12-301 , enacted by Ga. L....

§ 53-12-302. Damages for Breach of Trust; Interest - History. Code 1981, § 53-12-302 , enacted by Ga. L....

§ 53-12-303. Relief of Liability - History. Code 1981, § 53-12-303 , enacted by Ga. L....

§ 53-12-304. Liability of Successor Trustee - History. Code 1981, § 53-12-304 , enacted by Ga. L....

§ 53-12-305. Liability of Cotrustee - History. Code 1981, § 53-12-305 , enacted by Ga. L....

§ 53-12-306. Action Against Cotrustee - History. Code 1981, § 53-12-306 , enacted by Ga. L....

§ 53-12-307. Limitation of Actions - History. Code 1981, § 53-12-307 , enacted by Ga. L....

§ 53-12-308. Personal Liability of Trustee - History. Code 1981, § 53-12-308 , enacted by Ga. L....

Article 15 - Nonresidents and Foreign Entities Acting as Trustees

§ 53-12-320. Nonresidents Acting as Trustees - History. Code 1981, § 53-12-320 , enacted by Ga. L....

§ 53-12-321. Foreign Entities Acting as Trustees - History. Code 1981, § 53-12-321 , enacted by Ga. L....

§ 53-12-322. Acting as Fiduciary; Establishment of Place of Business Prohibited; Certificate of Authority Required - A foreign entity, insofar as it acts in a fiduciary...

§ 53-12-323. Filing Statement With Secretary of State; Appointment of Agent for Service - History. Code 1981, § 53-12-323 , enacted by Ga. L....

Article 16 - Trust Investments

Part 1 - Investments Generally

§ 53-12-340. Investment Standard - History. Code 1981, § 53-12-340 , enacted by Ga. L....

§ 53-12-341. Concentrated Holdings and Diversification - A trustee shall reasonably manage the risk of concentrated holdings...

§ 53-12-342. Duties at Inception of Trusteeship - Within a reasonable time after accepting a trusteeship or receiving...

§ 53-12-343. Reviewing Compliance - Compliance with the investment rules of this part shall be...

§ 53-12-344. Language Invoking Application of Article - The following terminology or comparable language in the provisions of...

§ 53-12-345. Delegation - History. Code 1981, § 53-12-345 , enacted by Ga. L....

Part 2 - Power of Adjustment and Unitrusts

§ 53-12-360. Duty of Trustee as to Receipts and Disbursements Within Scope of Article 17 - In allocating receipts and disbursements to or between principal and...

§ 53-12-361. Power of Adjustment - History. Code 1981, § 53-12-361 , enacted by Ga. L....

§ 53-12-362. Conversion to Unitrust - History. Code 1981, § 53-12-362 , enacted by Ga. L....

§ 53-12-363. Abuse of Trustee’s Discretion - History. Code 1981, § 53-12-363 , enacted by Ga. L....

§ 53-12-364. Express Total Return Unitrusts - History. Code 1981, § 53-12-364 , enacted by Ga. L....

Article 17 - Georgia Principal and Income Act

Part 1 - General Provisions and Definitions

§ 53-12-380. Short Title - This article shall be known and may be cited as...

§ 53-12-381. Definitions - As used in this article, the term: History. Code 1981,...

Part 2 - Payment of Interest and Expenses

§ 53-12-390. Payment of Interest on Pecuniary Amount - History. Code 1981, § 53-12-390 , enacted by Ga. L....

§ 53-12-391. Payment of Expenses - Expenses incurred in connection with the settlement of a decedent’s...

Part 3 - Apportionment at Beginning and End of Income Interest

§ 53-12-400. When the Right to Income Begins and Ends - History. Code 1981, § 53-12-400 , enacted by Ga. L....

§ 53-12-401. Apportionment of Receipts and Disbursements When Decedent Dies or Income Interest Begins - History. Code 1981, § 53-12-401 , enacted by Ga. L....

§ 53-12-402. Apportionment When Income Interest Ends - History. Code 1981, § 53-12-402 , enacted by Ga. L....

Part 4 - Allocation of Receipts During Administration of Trust

Subpart 1 - Receipts From Entities

§ 53-12-410. Character of Receipts - History. Code 1981, § 53-12-410 , enacted by Ga. L....

§ 53-12-411. Distribution From Trust or Estate - A trustee shall allocate to income an amount received as...

§ 53-12-412. Business and Other Activities Conducted by Trustee - History. Code 1981, § 53-12-412 , enacted by Ga. L....

Subpart 2 - Receipts Not Normally Apportioned

§ 53-12-420. Principal Receipts - A trustee shall allocate to principal: History. Code 1981, §...

§ 53-12-421. Rental Property - To the extent that a trustee accounts for receipts from...

§ 53-12-422. Obligation to Pay Money - History. Code 1981, § 53-12-422 , enacted by Ga. L....

§ 53-12-423. Insurance Policies and Similar Contracts - History. Code 1981, § 53-12-423 , enacted by Ga. L....

§ 53-12-424. Insubstantial Allocations Not Required - If a trustee determines that an allocation between principal and...

§ 53-12-425. Deferred Compensation, Annuities, and Similar Payments - History. Code 1981, § 53-12-425 , enacted by Ga. L....

§ 53-12-426. Liquidating Asset - History. Code 1981, § 53-12-426 , enacted by Ga. L....

§ 53-12-427. Minerals, Water, and Other Natural Resources - History. Code 1981, § 53-12-427 , enacted by Ga. L....

§ 53-12-428. Timber - History. Code 1981, § 53-12-428 , enacted by Ga. L....

§ 53-12-429. Property Not Productive of Income - History. Code 1981, § 53-12-429 , enacted by Ga. L....

§ 53-12-430. Derivatives and Options - History. Code 1981, § 53-12-430 , enacted by Ga. L....

§ 53-12-431. Asset-Backed Securities - History. Code 1981, § 53-12-431 , enacted by Ga. L....

Part 5 - Allocation of Disbursements During Administration of Trust

§ 53-12-450. Disbursements From Income - History. Code 1981, § 53-12-450 , enacted by Ga. L....

§ 53-12-451. Disbursements From Principal - History. Code 1981, § 53-12-451 , enacted by Ga. L....

§ 53-12-452. Transfers From Income to Principal for Depreciation - History. Code 1981, § 53-12-452 , enacted by Ga. L....

§ 53-12-453. Transfers From Income to Reimburse Principal - Wherever a charge that is properly allocable to income has...

§ 53-12-454. Income Taxes - History. Code 1981, § 53-12-454 , enacted by Ga. L....

§ 53-12-455. Adjustments Between Principal and Income Because of Taxes - History. Code 1981, § 53-12-455 , enacted by Ga. L....

Article 18 - Trust Directors

§ 53-12-500. Definitions - As used in this article, the term: History. Code 1981,...

§ 53-12-501. Application of Article; Construction of Trust Instrument - History. Code 1981, § 53-12-501 , enacted by Ga. L....

§ 53-12-502. Authority, Procedures, and Powers of Trust Directors - History. Code 1981, § 53-12-502 , enacted by Ga. L....

§ 53-12-503. Role of Directors; Petitioning Court for Instructions - History. Code 1981, § 53-12-503 , enacted by Ga. L....

§ 53-12-504. Directed Trustees; Role; Trustee’s Duty as to Directed Trustee; Petitioning Court for Instructions - History. Code 1981, § 53-12-504 , enacted by Ga. L....

§ 53-12-505. Relief From Duty and Liability - A trust instrument may relieve a cotrustee from duty and...

§ 53-12-506. Statutory Provisions Applicable to Trust Directors; Defenses Available to Trust Directors; Personal Jurisdiction; Term “Trustee” Includes Trust Director Where Required or Permitted - History. Code 1981, § 53-12-506 , enacted by Ga. L....

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Georgia Code Title 53 - Wills, Trusts, and Administration of Estates Chapter 12 - Trusts

Georgia Code
Title 53 - Wills, Trusts, and Administration of Estates
Chapter 12 - Trusts