§ 53-12-245. No Duty to Investigate Resources
A trustee shall not be under any duty to investigate the resources of any beneficiary when determining whether to distribute trust property to such beneficiary. History. Code 1981, § 53-12-245 , enacted by Ga. L. 2010, p. 579, § 1/SB 131.
§ 53-12-246. Duty to Avoid Conflict of Interest
A trustee shall administer the trust solely in the interests of the beneficiaries. This Code section shall not preclude the following transactions, if fair to the beneficiaries: An agreement between a trustee and a beneficiary relating to the appointment or compensation of the trustee; Payment of reasonable compensation to the trustee; or Performing and receiving […]
§ 53-12-247. Duty of Impartiality
Except to the extent that the governing trust instrument clearly manifests an intention that the trustee shall or may favor one or more of the beneficiaries, a trustee shall administer a trust impartially based on what is fair and reasonable to all of the beneficiaries and with due regard to the respective interests of income […]
§ 53-12-260. Discretionary Powers
Notwithstanding the breadth of discretion granted to a trustee in the trust instrument, including the use of such terms as “absolute,” “sole,” or “uncontrolled,” the trustee shall exercise a discretionary power in good faith. History. Code 1981, § 53-12-260 , enacted by Ga. L. 2010, p. 579, § 1/SB 131. Law reviews. For annual survey […]
§ 53-12-261. Powers of Trustee; Limitation Based on Fiduciary Duties
A trustee of an express trust, without court authorization, shall be authorized to exercise: Powers conferred by the trust instrument; and Except as limited by the trust instrument: All powers over the trust property that an unmarried competent owner has over individually owned property; Any other powers appropriate to achieve the proper investment, management, and […]
§ 53-12-262. Powers of Corporate Fiduciaries
A corporate fiduciary, without authorization by the court, may exercise the power: To retain stock or other securities of its own issue received on the creation of the trust or later contributed to the trust, including the securities into which the securities originally received or contributed may be converted or which may be derived therefrom […]
§ 53-12-263. Incorporation of Powers by Reference
By an expressed intention of the testator or settlor contained in a will or in a trust instrument in writing whereby an express trust is created, any or all of the powers or any portion thereof enumerated in this part, as they exist at the time of the signing of the will by the testator […]
§ 53-12-221. Removal of Trustee
A trustee may be removed: In accordance with the provisions of the trust instrument; or Upon petition to the court by any interested person showing good cause. In the discretion of the court, in order to protect the trust property or the interests of any beneficiary, on its own motion or on motion of a […]
§ 53-12-264. Granting of Powers by Qualified Beneficiaries
The qualified beneficiaries of a trust that omits any of the powers in Code Section 53-12-261 may by unanimous consent authorize but not require the court to grant to the trustee those powers. History. Code 1981, § 53-12-264 , enacted by Ga. L. 2010, p. 579, § 1/SB 131; Ga. L. 2018, p. 262, § […]
§ 53-12-230. Interim Accounting
At any time following 12 months from the date of acceptance of a trust, but not more frequently than once every 12 months, a trustee may petition the court to approve an interim accounting relieving the trustee from liability for the period covered by the interim accounting. The petition shall set forth: The name and […]