§ 53-12-345. Delegation
A trustee may delegate investment and management functions that a prudent trustee of comparable skills could properly delegate under the circumstances. The trustee shall exercise reasonable care, skill, and caution in: Selecting an agent; Establishing the scope and terms of the delegation consistent with the purposes and provisions of the trust; and Reviewing periodically the […]
§ 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 income and with respect to any matter within the scope of Article 17 of this chapter: A trustee shall administer a trust in accordance with the governing trust instrument, even if there is a different provision in Article 17 of this chapter; A trustee may […]
§ 53-12-361. Power of Adjustment
Subject to subsections (c) and (f) of this Code section, a trustee may adjust between principal and income by allocating an amount of income to principal or an amount of principal to income to the extent the trustee considers appropriate if: The governing trust instrument describes what may or shall be distributed to a beneficiary […]
§ 53-12-362. Conversion to Unitrust
Unless expressly prohibited by the trust instrument, a trustee may release the power to adjust under Code Section 53-12-361 and convert a trust into a unitrust as described in this Code section if: The trustee determines that the conversion will enable such trustee to better carry out the intent of the settlor or testator and […]
§ 53-12-363. Abuse of Trustee’s Discretion
A court shall not change a trustee’s decision to exercise or not to exercise a discretionary power conferred by Code Section 53-12-361 or 53-12-362 unless it determines that the decision was an abuse of the trustee’s discretion. The decisions to which subsection (a) of this Code section applies include: A determination of whether and to […]
§ 53-12-364. Express Total Return Unitrusts
The following provisions shall apply to a trust which by its governing trust instrument requires the distribution at least annually of a unitrust amount equal to a fixed percentage of not less than 3 percent nor more than 5 percent per year of the net fair market value of the trust’s assets, valued at least […]
§ 53-12-343. Reviewing Compliance
Compliance with the investment rules of this part shall be determined in light of the facts and circumstances existing at the time of a trustee’s decision or action and not by hindsight. History. Code 1981, § 53-12-343 , enacted by Ga. L. 2010, p. 579, § 1/SB 131.
§ 53-12-344. Language Invoking Application of Article
The following terminology or comparable language in the provisions of a trust, unless otherwise limited or modified, shall authorize any investment or strategy permitted under this article and Article 17 of this chapter: “investments permissible by law for investment of trust funds,” “legal investments,” “authorized investments,” “using the judgment and care under the circumstances then […]
§ 53-12-340. Investment Standard
A trustee shall invest and manage trust assets as a prudent investor would by considering the purposes, provisions, distribution requirements, and other circumstances of the trust. In satisfying this standard, the trustee shall exercise reasonable care, skill, and caution. A trustee’s investment and management decisions respecting individual assets shall be evaluated not in isolation but […]
§ 53-12-341. Concentrated Holdings and Diversification
A trustee shall reasonably manage the risk of concentrated holdings of assets in a trust by diversifying or by using other appropriate mechanisms, except as otherwise provided in this Code section, as follows: The duty imposed by this Code section shall not apply if the trustee reasonably determines that, because of special circumstances, the purposes […]