- A settlor may appoint trustees or grant that power to others, including trust beneficiaries.
- A trust shall never fail for want of a trustee.
- If the trust instrument names a person to fill a vacancy or provides a method of appointing a trustee, any vacancy shall be filled or appointment made as provided in the trust instrument.
- The qualified beneficiaries may appoint a trustee by unanimous consent.
- In all other cases, the court, on petition of an interested person, may appoint any number of trustees consistent with the intention of the settlor and the interests of the beneficiaries.
- The petition provided for in subsection (e) of this Code section shall be served upon all qualified beneficiaries.
- A trustee appointed as a successor trustee shall have all the authority of the original trustee.
History. Code 1981, § 53-12-201 , enacted by Ga. L. 2010, p. 579, § 1/SB 131; Ga. L. 2011, p. 551, § 10/SB 134; Ga. L. 2018, p. 262, § 14/HB 121.
Law reviews.
For article on the 2018 amendment of this Code section, see 35 Ga. St. U. L. Rev. 219 (2018).