Chapter

TRUSTS

O.C.G.A. § 53-12-1— Short title; effect on existing trusts
O.C.G.A. § 53-12-2— Definitions
O.C.G.A. § 53-12-3— Survival of common law and equity
O.C.G.A. § 53-12-4— Law governing the validity of the trust
O.C.G.A. § 53-12-5— Law governing the meaning and effect of trust provisions
O.C.G.A. § 53-12-6— Jurisdiction
O.C.G.A. § 53-12-7— When trust and chapter conflict
O.C.G.A. § 53-12-8— Notice to person permitted to bind another person; consent on behalf of another person; representation of others
O.C.G.A. § 53-12-9— Binding nonjudicial settlement agreement
O.C.G.A. § 53-12-20— Express trusts
O.C.G.A. § 53-12-21— Formal and precatory words
O.C.G.A. § 53-12-22— Trust purposes and conditions in terrorem
O.C.G.A. § 53-12-23— Capacity of settlor
O.C.G.A. § 53-12-24— Non-merger
O.C.G.A. § 53-12-25— Transfer of property in trust
O.C.G.A. § 53-12-26— Additions to trust property
O.C.G.A. § 53-12-27— Construction; parol evidence
O.C.G.A. § 53-12-28— Trusts for animals
O.C.G.A. § 53-12-40— Revocation and modification generally
O.C.G.A. § 53-12-41— Trustee’s consent necessary to enlarge duties
O.C.G.A. § 53-12-42— Notice to trustee
O.C.G.A. § 53-12-43— Power of agent or conservator to revoke trust
O.C.G.A. § 53-12-44— Trust not revocable because life estate holder has reversion
O.C.G.A. § 53-12-45— Limitation on action contesting validity of revocable trust
O.C.G.A. § 53-12-60— Reformation to correct mistakes
O.C.G.A. § 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
O.C.G.A. § 53-12-62— Power of trustee to invade principal of original trust
O.C.G.A. § 53-12-65— Modification or termination of uneconomic trust
O.C.G.A. § 53-12-80— Spendthrift provisions
O.C.G.A. § 53-12-81— Limitations on creditors’ rights to discretionary distributions
O.C.G.A. § 53-12-82— Rules for trusts; consideration of assets of an inter vivos marital trust following death
O.C.G.A. § 53-12-83— Creditors’ claims against property that is subject to withdrawal right
O.C.G.A. § 53-12-100— Short title
O.C.G.A. § 53-12-101— Making of testamentary additions to trusts
O.C.G.A. § 53-12-102— Limitations of duties and responsibilities of trustee
O.C.G.A. § 53-12-103— Effect on prior and subsequent wills
O.C.G.A. § 53-12-120— Trusts as beneficiaries
O.C.G.A. § 53-12-130— Resulting trusts
O.C.G.A. § 53-12-131— Purchase money resulting trusts
O.C.G.A. § 53-12-132— Constructive trusts
O.C.G.A. § 53-12-133— Parol evidence and implied trusts
O.C.G.A. § 53-12-150— Definitions
O.C.G.A. § 53-12-152— Filing of deeds and amendments thereto; filing of copies with Secretary of State
O.C.G.A. § 53-12-153— Name of trust
O.C.G.A. § 53-12-154— Certificates of beneficial interest by trustees
O.C.G.A. § 53-12-155— Duties and powers of trustees; resignation or removal; successor trustees
O.C.G.A. § 53-12-156— Investments by trustees
O.C.G.A. § 53-12-157— Initial and annual returns
O.C.G.A. § 53-12-158— How title vests on termination of estate
O.C.G.A. § 53-12-159— Merger of trust into a domestic corporation
O.C.G.A. § 53-12-170— Definition; charitable purposes
O.C.G.A. § 53-12-171— Power to select purposes or beneficiaries
O.C.G.A. § 53-12-172— Cy pres
O.C.G.A. § 53-12-173— Duration of charitable trusts
O.C.G.A. § 53-12-174— Attorney general or district attorney as representative of charitable beneficiaries
O.C.G.A. § 53-12-175— Enforcement by settlor
O.C.G.A. § 53-12-180— Automatic amendment of articles of incorporation of corporate private foundation
O.C.G.A. § 53-12-181— Amendment of articles of incorporation to exclude application of Code Section 53-12-180
O.C.G.A. § 53-12-182— Effect of Code Sections 53-12-180 and 53-12-181 as to forfeiture or reversion of trust property
O.C.G.A. § 53-12-183— Election of private foundation to distribute such property as will enable corporation to avoid tax liability
O.C.G.A. § 53-12-184— Effect of Code Sections 53-12-180 through 53-12-183 on powers of the courts or the Attorney General
O.C.G.A. § 53-12-190— Automatic amendment of governing instrument of private foundation trust, charitable trust, or split-interest trust
O.C.G.A. § 53-12-191— Automatic amendment of governing instrument of private foundation trust or charitable trust as to distribution of trust funds
O.C.G.A. § 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
O.C.G.A. § 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
O.C.G.A. § 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
O.C.G.A. § 53-12-195— Effect of Code Sections 53-12-190 through 53-12-193 on powers of courts and Attorney General
O.C.G.A. § 53-12-200— Capacity of trustee
O.C.G.A. § 53-12-201— Appointment and vacancies
O.C.G.A. § 53-12-202— Acceptance
O.C.G.A. § 53-12-203— Trustee’s bond
O.C.G.A. § 53-12-204— Cotrustees generally
O.C.G.A. § 53-12-210— Compensation of trustee
O.C.G.A. § 53-12-211— Compensation of cotrustees and successor trustees
O.C.G.A. § 53-12-212— Extra compensation
O.C.G.A. § 53-12-213— Reimbursement of expenses
O.C.G.A. § 53-12-214— Compensation from business enterprise
O.C.G.A. § 53-12-220— Resignation of trustee
O.C.G.A. § 53-12-221— Removal of trustee
O.C.G.A. § 53-12-230— Interim accounting
O.C.G.A. § 53-12-231— Final accounting
O.C.G.A. § 53-12-232— Equitable accounting
O.C.G.A. § 53-12-240— Duties generally
O.C.G.A. § 53-12-241— Duty of prudent administration
O.C.G.A. § 53-12-242— Duty to inform as to existence of trust
O.C.G.A. § 53-12-243— Duty to provide reports and accounts
O.C.G.A. § 53-12-244— Duty to distribute income
O.C.G.A. § 53-12-245— No duty to investigate resources
O.C.G.A. § 53-12-246— Duty to avoid conflict of interest
O.C.G.A. § 53-12-247— Duty of impartiality
O.C.G.A. § 53-12-260— Discretionary powers
O.C.G.A. § 53-12-261— Powers of trustee; limitation based on fiduciary du- ties
O.C.G.A. § 53-12-262— Powers of corporate fiduciaries
O.C.G.A. § 53-12-263— Incorporation of powers by reference
O.C.G.A. § 53-12-264— Granting of powers by qualified beneficiaries
O.C.G.A. § 53-12-270— Exercise of power by trustee who is also a benefi- ciary
O.C.G.A. § 53-12-280— Certification of trust by trustee
O.C.G.A. § 53-12-290— How securities to be registered by corporate trustee
O.C.G.A. § 53-12-291— Registration where two or more fiduciaries are acting jointly
O.C.G.A. § 53-12-292— Deposit of securities in clearing corporation
O.C.G.A. § 53-12-300— Accountable to beneficiary; breach of trust
O.C.G.A. § 53-12-301— Actions for breach of trust
O.C.G.A. § 53-12-302— Damages for breach of trust; interest
O.C.G.A. § 53-12-303— Relief of liability
O.C.G.A. § 53-12-304— Liability of successor trustee
O.C.G.A. § 53-12-305— Liability of cotrustee
O.C.G.A. § 53-12-306— Action against cotrustee
O.C.G.A. § 53-12-307— Limitation of actions
O.C.G.A. § 53-12-308— Personal liability of trustee
O.C.G.A. § 53-12-320— Nonresidents acting as trustees
O.C.G.A. § 53-12-321— Foreign entities acting as trustees
O.C.G.A. § 53-12-322— Acting as fiduciary; establishment of place of busi- ness prohibited; certificate of authority required
O.C.G.A. § 53-12-323— Filing statement with Secretary of State; appointment of agent for service
O.C.G.A. § 53-12-340— Investment standard
O.C.G.A. § 53-12-341— Concentrated holdings and diversification
O.C.G.A. § 53-12-342— Duties at inception of trusteeship
O.C.G.A. § 53-12-343— Reviewing compliance
O.C.G.A. § 53-12-344— Language invoking application of article
O.C.G.A. § 53-12-345— Delegation
O.C.G.A. § 53-12-360— Duty of trustee as to receipts and disbursements within scope of Article 17
O.C.G.A. § 53-12-361— Power of adjustment
O.C.G.A. § 53-12-362— Conversion to unitrust
O.C.G.A. § 53-12-363— Abuse of trustee’s discretion
O.C.G.A. § 53-12-364— Express total return unitrusts
O.C.G.A. § 53-12-380— Short title
O.C.G.A. § 53-12-381— Definitions
O.C.G.A. § 53-12-390— Payment of interest on pecuniary amount
O.C.G.A. § 53-12-391— Payment of expenses
O.C.G.A. § 53-12-400— When the right to income begins and ends
O.C.G.A. § 53-12-401— Apportionment of receipts and disbursements when decedent dies or income interest begins
O.C.G.A. § 53-12-402— Apportionment when income interest ends
O.C.G.A. § 53-12-410— Character of receipts
O.C.G.A. § 53-12-411— Distribution from trust or estate
O.C.G.A. § 53-12-412— Business and other activities conducted by trustee
O.C.G.A. § 53-12-420— Principal receipts
O.C.G.A. § 53-12-421— Rental property
O.C.G.A. § 53-12-422— Obligation to pay money
O.C.G.A. § 53-12-423— Insurance policies and similar contracts
O.C.G.A. § 53-12-424— Insubstantial allocations not required
O.C.G.A. § 53-12-425— Deferred compensation, annuities, and similar payments
O.C.G.A. § 53-12-426— Liquidating asset
O.C.G.A. § 53-12-427— Minerals, water, and other natural resources
O.C.G.A. § 53-12-428— Timber
O.C.G.A. § 53-12-429— Property not productive of income
O.C.G.A. § 53-12-430— Derivatives and options
O.C.G.A. § 53-12-431— Asset-backed securities
O.C.G.A. § 53-12-450— Disbursements from income
O.C.G.A. § 53-12-451— Disbursements from principal
O.C.G.A. § 53-12-452— Transfers from income to principal for depreciation
O.C.G.A. § 53-12-453— Transfers from income to reimburse principal
O.C.G.A. § 53-12-454— Income taxes
O.C.G.A. § 53-12-455— Adjustments between principal and income because of taxes
O.C.G.A. § 53-12-500— Definitions
O.C.G.A. § 53-12-501— Application of article; construction of trust instru- ment
O.C.G.A. § 53-12-502— Authority, procedures, and powers of trust directors
O.C.G.A. § 53-12-503— Role of directors; petitioning court for instructions
O.C.G.A. § 53-12-504— Directed trustees; role; trustee’s duty as to directed trustee; petitioning court for instructions
O.C.G.A. § 53-12-505— Relief from duty and liability
O.C.G.A. § 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