reglab/statecodes huggingface dataset:
2023 CODE OF GEORGIA › Title 53 - WILLS, TRUSTS, AND ADMINISTRATION OF ESTATES (§§ 53-1-1 — 53-17-12) › Chapter 12 - REVISED GEORGIA TRUST CODE OF 2010 (§§ 53-12-1 — 53-12-506) › Article 5 - SPENDTHRIFT AND DISCRETIONARY TRUSTS (§§ 53-12-80 — 53-12-83) › Section 53-12-80 - Spendthrift provisions

(a)
A spendthrift provision shall only be valid if it prohibits both voluntary and involuntary transfers.
(b)
A term of a trust providing that the interest of a beneficiary is held subject to a spendthrift trust, or words of similar import, shall be sufficient to restrain both voluntary and involuntary transfer of the beneficiary's interest in the manner set forth in this article.
(c)
A beneficiary shall not transfer an interest in a trust in violation of a valid spendthrift provision, and, except as otherwise provided in this Code section, a creditor or assignee of the beneficiary shall not reach the interest or a distribution by the trustee before its receipt by the beneficiary.
(d)
A spendthrift provision shall not be valid as to the following claims against a beneficiary's right to a current distribution to the extent the distribution would be subject to garnishment under Article 1 of Chapter 4 of Title 18 if the distribution were disposable earnings:
(1)
Alimony or child support;
(2)
Taxes or other governmental claims;
(3)
Tort judgments;
(4)
Judgments or orders for restitution as a result of a criminal conviction of the beneficiary; or
(5)
Judgments for necessaries.
The ability of a creditor or assignee to reach a beneficiary's interest under this subsection shall not apply to the extent that it would disqualify the trust as a special needs trust established pursuant to
42 U.S.C. Sections 1396p(d)(4)(A)
or
1396p(d)(4)(C)
.
(e)
A provision in a trust instrument that a beneficiary's interest shall terminate or become discretionary upon an attempt by the beneficiary to transfer it, an attempt by the beneficiary's creditors to reach it, or upon the bankruptcy or receivership of the beneficiary shall be valid except to the extent of the proportion of trust property attributable to such beneficiary's contribution.
(f)
If a beneficiary is also a contributor to the trust, a spendthrift provision shall not be valid as to such beneficiary to the extent of the proportion of trust property attributable to such beneficiary's contribution. This subsection shall not apply to a special needs trust established pursuant to
42 U.S.C. Sections 1396p(d)(4)(A)
or
1396p(d)(4)(C)
.
(g)
Notwithstanding any other provision in this Code section, a spendthrift provision in a pension or retirement arrangement described in sections 401, 403, 404, 408, 408A, 409, 414, or 457 of the federal Internal Revenue Code of 1986 shall be valid with reference to the entire interest of the beneficiary in the income, principal, or both, even if the beneficiary is also a contributor of trust property, except where a claim is made pursuant to a qualified domestic relations order as defined in
26 U.S.C. Section 414(p)
.
Amended by 2016 Ga. Laws 325,§ 4, eff. 5/12/2016.
Amended by 2011 Ga. Laws 245,§ 53, eff. 5/13/2011.
Added by 2010 Ga. Laws 506,§ 1, eff. 7/1/2010.
2023 CODE OF GEORGIA › Title 53 - WILLS, TRUSTS, AND ADMINISTRATION OF ESTATES (§§ 53-1-1 — 53-17-12) › Chapter 12 - REVISED GEORGIA TRUST CODE OF 2010 (§§ 53-12-1 — 53-12-506) › Article 5 - SPENDTHRIFT AND DISCRETIONARY TRUSTS (§§ 53-12-80 — 53-12-83) › Section 53-12-81 - Limitations on creditors' rights to discretionary distributions

A transferee or creditor of a beneficiary shall not compel the trustee or a trust director to pay any amount that is payable only in the discretion of the trustee or trust director regardless of whether the discretion is expressed in the form of a standard of distribution, including, but not limited to, health, education, maintenance, and support, and whether such trustee or trust director is also a beneficiary. This Code section shall not apply to the extent of the proportion of trust property attributable to the beneficiary's contribution.
Amended by 2020 Ga. Laws 508,§ 1-78, eff. 1/1/2021.
Amended by 2018 Ga. Laws 366,§ 12, eff. 7/1/2018.
Added by 2010 Ga. Laws 506,§ 1, eff. 7/1/2010.
2023 CODE OF GEORGIA › Title 53 - WILLS, TRUSTS, AND ADMINISTRATION OF ESTATES (§§ 53-1-1 — 53-17-12) › Chapter 12 - REVISED GEORGIA TRUST CODE OF 2010 (§§ 53-12-1 — 53-12-506) › Article 5 - SPENDTHRIFT AND DISCRETIONARY TRUSTS (§§ 53-12-80 — 53-12-83) › Section 53-12-83 - Creditors' claims against property that is subject to withdrawal right

The holder of a power of withdrawal, during the period that the power may be exercised, shall be treated in the same manner as the settlor of a revocable trust to the extent of the property subject to the power. The lapse, release, or waiver of a power of withdrawal shall not cause the holder to be treated as a settlor of the trust.
Added by 2010 Ga. Laws 506,§ 1, eff. 7/1/2010.
2023 CODE OF GEORGIA › Title 53 - WILLS, TRUSTS, AND ADMINISTRATION OF ESTATES (§§ 53-1-1 — 53-17-12) › Chapter 12 - REVISED GEORGIA TRUST CODE OF 2010 (§§ 53-12-1 — 53-12-506) › Article 6 - TESTAMENTARY ADDITIONS TO TRUST (§§ 53-12-100 — 53-12-120) › Part 1 - GEORGIA TESTAMENTARY ADDITION TO TRUSTS ACT (§§ 53-12-100 — 53-12-103) › Section 53-12-100 - Short title

This part shall be known and may be cited as the "Georgia Testamentary Additions to Trusts Act."
Added by 2010 Ga. Laws 506,§ 1, eff. 7/1/2010.
2023 CODE OF GEORGIA › Title 53 - WILLS, TRUSTS, AND ADMINISTRATION OF ESTATES (§§ 53-1-1 — 53-17-12) › Chapter 12 - REVISED GEORGIA TRUST CODE OF 2010 (§§ 53-12-1 — 53-12-506) › Article 6 - TESTAMENTARY ADDITIONS TO TRUST (§§ 53-12-100 — 53-12-120) › Part 1 - GEORGIA TESTAMENTARY ADDITION TO TRUSTS ACT (§§ 53-12-100 — 53-12-103) › Section 53-12-101 - Making of testamentary additions to trusts

(a)
A devise or bequest, the validity of which is determinable by the law of this state, may be made by a will to the trustee of a trust established or to be established by the testator or by the testator and some other person or by some other person, including a funded or unfunded life insurance trust, even if the settlor has reserved any or all rights of ownership of the insurance contracts, if the trust is identified in the testator's will and its provisions are set forth in a written trust instrument, other than a will, executed before or concurrently with the execution of the testator's will or in the valid last will of a person who has predeceased the testator, regardless of the existence, size, or character of the corpus of the trust and notwithstanding the requirements of paragraph (2) of subsection (b) of Code Section
53-12-20
. The devise or bequest shall not be invalid because the trust is amendable or revocable or both or because the trust was amended after the execution of the will or after the death of the testator.
(b)
Unless the testator's will provides otherwise, the property so devised or bequeathed:
(1)
Shall not be deemed to be held under a testamentary trust of the testator but shall become a part of the trust to which it is devised or bequeathed; and
(2)
Shall be administered and disposed of in accordance with the provisions of the trust instrument or will setting forth the terms of the trust, including any amendments thereto made before or after the testator's death.
(c)
Unless the testator's will provides otherwise, a revocation or termination of the trust before the death of the testator shall cause the devise or bequest to lapse.
Added by 2010 Ga. Laws 506,§ 1, eff. 7/1/2010.
2023 CODE OF GEORGIA › Title 53 - WILLS, TRUSTS, AND ADMINISTRATION OF ESTATES (§§ 53-1-1 — 53-17-12) › Chapter 12 - REVISED GEORGIA TRUST CODE OF 2010 (§§ 53-12-1 — 53-12-506) › Article 6 - TESTAMENTARY ADDITIONS TO TRUST (§§ 53-12-100 — 53-12-120) › Part 1 - GEORGIA TESTAMENTARY ADDITION TO TRUSTS ACT (§§ 53-12-100 — 53-12-103) › Section 53-12-102 - Limitations of duties and responsibilities of trustee

The trustee of a trust established by the testator or others as provided in Code Section
53-12-101
shall not be required to inquire into or audit the actions of the executor of the testator's estate or to make any claim against the executor unless specifically directed to do so by the settlor in the trust instrument. In the event that the trustee is authorized or directed by the settlor in the trust instrument to pay or advance any part or all of the trust property to the executor of the testator's estate for the payment of debts, taxes, and expenses of administration of the testator's estate, the trustee shall not be liable for the application of the trust property so paid or advanced and shall not be liable for any act done or omitted to be done by the executor with regard to the trust property.
Added by 2010 Ga. Laws 506,§ 1, eff. 7/1/2010.
2023 CODE OF GEORGIA › Title 53 - WILLS, TRUSTS, AND ADMINISTRATION OF ESTATES (§§ 53-1-1 — 53-17-12) › Chapter 12 - REVISED GEORGIA TRUST CODE OF 2010 (§§ 53-12-1 — 53-12-506) › Article 6 - TESTAMENTARY ADDITIONS TO TRUST (§§ 53-12-100 — 53-12-120) › Part 1 - GEORGIA TESTAMENTARY ADDITION TO TRUSTS ACT (§§ 53-12-100 — 53-12-103) › Section 53-12-103 - Effect on prior and subsequent wills

This part shall apply to all devises or bequests made in the will of a testator dying on or after May 31, 1968, whether the will is executed before or after such date. This part shall not invalidate a devise or bequest to a trustee made by a will executed prior to May 31, 1968, by a testator dying prior to such date.
Added by 2010 Ga. Laws 506,§ 1, eff. 7/1/2010.
2023 CODE OF GEORGIA › Title 53 - WILLS, TRUSTS, AND ADMINISTRATION OF ESTATES (§§ 53-1-1 — 53-17-12) › Chapter 12 - REVISED GEORGIA TRUST CODE OF 2010 (§§ 53-12-1 — 53-12-506) › Article 6 - TESTAMENTARY ADDITIONS TO TRUST (§§ 53-12-100 — 53-12-120) › Part 2 - DESIGNATION OF TRUST AS BENEFICIARY (§ 53-12-120) › Section 53-12-120 - Trusts as beneficiaries

A trust under a testator's will may be designated as the beneficiary of the testator's qualified retirement plan, individual retirement account, other retirement plan, or life insurance policies on the life of the testator so long as the testator's will is admitted to probate in solemn form, whether the designation occurs before or after the execution of the will. Unless the beneficiary designation provides otherwise, the designation of a trust under a will as beneficiary shall not be treated as the designation of the testator's estate as beneficiary nor shall such property, once delivered to the trustee under the testator's will, be deemed to be part of the testator's estate.
Added by 2010 Ga. Laws 506,§ 1, eff. 7/1/2010.
2023 CODE OF GEORGIA › Title 53 - WILLS, TRUSTS, AND ADMINISTRATION OF ESTATES (§§ 53-1-1 — 53-17-12) › Chapter 12 - REVISED GEORGIA TRUST CODE OF 2010 (§§ 53-12-1 — 53-12-506) › Article 7 - IMPLIED TRUSTS (§§ 53-12-130 — 53-12-133) › Section 53-12-130 - Resulting trusts

A resulting trust is a trust implied for the benefit of the settlor or the settlor's successors in interest when it is determined that the settlor did not intend that the holder of the legal title to the trust property also should have the beneficial interest in the property under any of the following circumstances:
(1)
A trust is created but fails, in whole or in part, for any reason;
(2)
A trust is fully performed without exhausting all the trust property; or
(3)
A purchase money resulting trust as defined in subsection (a) of Code Section
53-12-131
is established.
Added by 2010 Ga. Laws 506,§ 1, eff. 7/1/2010.
2023 CODE OF GEORGIA › Title 53 - WILLS, TRUSTS, AND ADMINISTRATION OF ESTATES (§§ 53-1-1 — 53-17-12) › Chapter 12 - REVISED GEORGIA TRUST CODE OF 2010 (§§ 53-12-1 — 53-12-506) › Article 7 - IMPLIED TRUSTS (§§ 53-12-130 — 53-12-133) › Section 53-12-131 - Purchase money resulting trusts

(a)
A purchase money resulting trust is a resulting trust implied for the benefit of the person paying consideration for the transfer to another person of legal title to real or personal property.
(b)
Except as provided in subsection (c) of this Code section, the payment of consideration as provided in subsection (a) of this Code section shall create a presumption in favor of a resulting trust, but such presumption shall be rebuttable by a preponderance of the evidence.
(c)
If the payor of consideration and transferee of the property as provided in subsection (a) of this Code section are husband and wife, parent and child, or siblings, a gift shall be presumed, but such presumption shall be rebuttable by clear and convincing evidence.
Added by 2010 Ga. Laws 506,§ 1, eff. 7/1/2010.
2023 CODE OF GEORGIA › Title 53 - WILLS, TRUSTS, AND ADMINISTRATION OF ESTATES (§§ 53-1-1 — 53-17-12) › Chapter 12 - REVISED GEORGIA TRUST CODE OF 2010 (§§ 53-12-1 — 53-12-506) › Article 7 - IMPLIED TRUSTS (§§ 53-12-130 — 53-12-133) › Section 53-12-132 - Constructive trusts

(a)
A constructive trust is a trust implied whenever the circumstances are such that the person holding legal title to property, either from fraud or otherwise, cannot enjoy the beneficial interest in the property without violating some established principle of equity.
(b)
The person claiming the beneficial interest in the property may be found to have waived the right to a constructive trust by subsequent ratification or long acquiescence.
Added by 2010 Ga. Laws 506,§ 1, eff. 7/1/2010.
2023 CODE OF GEORGIA › Title 53 - WILLS, TRUSTS, AND ADMINISTRATION OF ESTATES (§§ 53-1-1 — 53-17-12) › Chapter 12 - REVISED GEORGIA TRUST CODE OF 2010 (§§ 53-12-1 — 53-12-506) › Article 7 - IMPLIED TRUSTS (§§ 53-12-130 — 53-12-133) › Section 53-12-133 - Parol evidence and implied trusts

In all cases in which a trust is sought to be implied, the court may hear parol evidence of the nature of the transaction, the circumstances, and the conduct of the parties, either to imply or rebut the trust.
Added by 2010 Ga. Laws 506,§ 1, eff. 7/1/2010.
2023 CODE OF GEORGIA › Title 53 - WILLS, TRUSTS, AND ADMINISTRATION OF ESTATES (§§ 53-1-1 — 53-17-12) › Chapter 12 - REVISED GEORGIA TRUST CODE OF 2010 (§§ 53-12-1 — 53-12-506) › Article 8 - CREATION BY DEED TO ACQUIRE BENEFICIAL INTEREST (§§ 53-12-150 — 53-12-159) › Section 53-12-150 - Definitions

As used in this article, the term:
(1)
"Deed" means and includes any written agreement, declaration of trust, or other instrument which creates a trust estate in the trustee named therein and sets forth the terms and conditions of the trust and which indicates an intention, either expressly or by implication, that the trust estate created therein should be subject to this chapter, but such term shall not include a warranty deed, quitclaim deed, bill of sale, or other instrument that conveys title to property to a trustee merely by virtue of such fact alone.
(2)
"Property" includes improved or unimproved property, real or personal, leaseholds, mortgages, notes, other obligations secured by property or any interest therein, or other interests in such property.
Added by 2010 Ga. Laws 506,§ 1, eff. 7/1/2010.
2023 CODE OF GEORGIA › Title 53 - WILLS, TRUSTS, AND ADMINISTRATION OF ESTATES (§§ 53-1-1 — 53-17-12) › Chapter 12 - REVISED GEORGIA TRUST CODE OF 2010 (§§ 53-12-1 — 53-12-506) › Article 8 - CREATION BY DEED TO ACQUIRE BENEFICIAL INTEREST (§§ 53-12-150 — 53-12-159) › Section 53-12-151 - Deeds to interests in property

The owners of property located in this state or persons desiring to acquire beneficial ownership of such property may create by deed an estate therein and in the improvements made thereon and in the property to be acquired, for the benefit of themselves and such other persons, whether sui juris or not, who may contribute to the improvement or development or acquisition of the property and their assigns or transferees, provided that the deed creating the estate shall provide for the improvement or development of the property covered thereby or for the acquisition of the property and the trustee therein named, and his or her successor shall have some active duty to perform in and about the trust property or the management or control of the same. The deed creating the estate shall be recorded as provided in Code Section
53-12-152
. When such an estate is created, the legal title to the property and all the property added thereto or substituted therefor shall vest and remain in the trustee named and his or her successor, in accordance with the terms of the deed, with all the powers conferred thereby upon the trustee, and shall not during the continuance of the estate pass to or vest in the beneficiaries. At the end of 25 years from the date of the deed creating the estate, the title to such of the property as may then belong to the estate shall vest in the beneficiaries; and, if the deed creating the estate so provides, a renewal of the estate may be made at the end of the 25 years, upon the terms and conditions and in the manner therein set forth, for a like period; provided, however, that in the alternative to the period of 25 years and the renewal thereof, if the deed so provides, the estate may be created for any period of time specified therein which does not extend beyond any number of lives in being and 21 years thereafter.
Added by 2010 Ga. Laws 506,§ 1, eff. 7/1/2010.
2023 CODE OF GEORGIA › Title 53 - WILLS, TRUSTS, AND ADMINISTRATION OF ESTATES (§§ 53-1-1 — 53-17-12) › Chapter 12 - REVISED GEORGIA TRUST CODE OF 2010 (§§ 53-12-1 — 53-12-506) › Article 8 - CREATION BY DEED TO ACQUIRE BENEFICIAL INTEREST (§§ 53-12-150 — 53-12-159) › Section 53-12-152 - Filing of deeds and amendments thereto; filing of copies with Secretary of State

(a)
The deed creating a trust estate as provided in Code Section
53-12-151
shall, within 30 days of the execution thereof, be filed by the trustee in the office of the clerk of the superior court of the county in which the principal office of the trust is located. The trustee shall concurrently pay to the clerk the fee prescribed in Code Section
15-6-77
. Upon the deed being filed with the clerk and the fees being paid, the clerk shall deliver to the trustee or his or her attorney two certified copies of the deed, the filing of the clerk thereon, and a receipt for the costs which have been paid to the clerk.
(b)
Upon receiving the two certified copies of the deed, the trustee or his or her attorney shall present the same to the Secretary of State and shall pay $5.00 to the Secretary of State. The Secretary of State shall thereupon attach to one of the certified copies of the deed a certificate in substantially the following form:
STATE OF GEORGIA
OFFICE OF THE SECRETARY OF STATE
This is to certify that a copy of the attached certified copy of a deed, declaration, or agreement of trust dated __________________, by and between __________________ as settlor(s) and __________________ as trustee(s), which states that the trustee(s) may use the name of __________________, has been duly filed in the office of the Secretary of State and the fees paid therefor, as provided by law.
WITNESS my hand and official seal this __________________ day of
__________________, __________________.
__________________
Secretary of State
(c)
The certified copy of the deed, together with the certificate of the Secretary of State thereon, shall be received as evidence in any court or proceeding as evidence of the existence of the trust and of its nature, terms, and conditions.
(d)
The Secretary of State, at any time, upon the request of any person, shall make and certify additional copies of the deed, filing of the clerk, and certificate of the Secretary of State, upon payment to him or her of a fee of $1.00, plus 10¢ per 100 words for copying, and the additional certified copies shall be likewise admitted in evidence with like force and effect.
(e)
Any amendment of a deed shall be filed with the clerk of the superior court and the Secretary of State in the same manner and under the same conditions required in the filing of the original deed, and the fees payable upon the filing shall be computed as if the filing were of an original deed.
Added by 2010 Ga. Laws 506,§ 1, eff. 7/1/2010.
2023 CODE OF GEORGIA › Title 53 - WILLS, TRUSTS, AND ADMINISTRATION OF ESTATES (§§ 53-1-1 — 53-17-12) › Chapter 12 - REVISED GEORGIA TRUST CODE OF 2010 (§§ 53-12-1 — 53-12-506) › Article 8 - CREATION BY DEED TO ACQUIRE BENEFICIAL INTEREST (§§ 53-12-150 — 53-12-159) › Section 53-12-153 - Name of trust

If the deed creating a trust estate under Code Section
53-12-151
so provides, the trustee may conduct and transact the affairs of the trust estate under a business or trade name, which name shall be set forth in the deed. The name may include the word "trust" but shall not include the words "trust company."
Added by 2010 Ga. Laws 506,§ 1, eff. 7/1/2010.
2023 CODE OF GEORGIA › Title 53 - WILLS, TRUSTS, AND ADMINISTRATION OF ESTATES (§§ 53-1-1 — 53-17-12) › Chapter 12 - REVISED GEORGIA TRUST CODE OF 2010 (§§ 53-12-1 — 53-12-506) › Article 8 - CREATION BY DEED TO ACQUIRE BENEFICIAL INTEREST (§§ 53-12-150 — 53-12-159) › Section 53-12-154 - Certificates of beneficial interest by trustees

When an estate is created pursuant to Code Section
53-12-151
and from time to time thereafter, the trustee shall issue such certificates of beneficial interest as may be provided for by the deed to the persons who are beneficially interested in the estate or who become so interested therein in accordance with the provisions of the deed. The certificates shall pass and be transferred as personalty and in the same manner as shares of stock in corporations and shall be subject to levy and sale under attachment or execution or any other process in like manner as shares of stock. The trustee or person in charge of the estate representing the trustee shall be subject to the same demand as that provided by Code Sections
9-13-58
and
11-8-112
for the levying officer to make upon the officers of a corporation. Persons having claims against the estate may enforce the same by action against the trustee thereof in like manner as actions against corporations, and service thereof may be perfected by serving the trustee, if a resident of this state, and if not, then by publication. The venue of such actions shall be the same as that of similar actions against private corporations, but neither the trustee nor the beneficiaries of the estate shall be personally or individually liable therefor except in cases where officers and stockholders of private corporations would be liable under the law.
Added by 2010 Ga. Laws 506,§ 1, eff. 7/1/2010.
2023 CODE OF GEORGIA › Title 53 - WILLS, TRUSTS, AND ADMINISTRATION OF ESTATES (§§ 53-1-1 — 53-17-12) › Chapter 12 - REVISED GEORGIA TRUST CODE OF 2010 (§§ 53-12-1 — 53-12-506) › Article 8 - CREATION BY DEED TO ACQUIRE BENEFICIAL INTEREST (§§ 53-12-150 — 53-12-159) › Section 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
shall have sole and exclusive management and control of the property, in accordance with the terms of the deed creating the estate. The exercise by the trustee of any power granted or conferred by the deed, including the power to lease, encumber, and sell, when exercised in accordance with the terms thereof, shall be as valid and effective to all intents and purposes as if the trustee was the sole and exclusive owner of the property in his or her own right. The trustee may resign or be removed and his or her successor may be appointed in the manner of and in accordance with the terms fixed by the deed creating the estate. The same rights, powers, and title over and to the property shall belong to and be vested in the new trustee as are conferred upon the original trustee by the deed creating the estate. The death of a trustee shall not operate to cast title upon his or her heirs, devisees, executors, or administrators, but the same shall vest in his or her successor, when appointed.
Added by 2010 Ga. Laws 506,§ 1, eff. 7/1/2010.
2023 CODE OF GEORGIA › Title 53 - WILLS, TRUSTS, AND ADMINISTRATION OF ESTATES (§§ 53-1-1 — 53-17-12) › Chapter 12 - REVISED GEORGIA TRUST CODE OF 2010 (§§ 53-12-1 — 53-12-506) › Article 8 - CREATION BY DEED TO ACQUIRE BENEFICIAL INTEREST (§§ 53-12-150 — 53-12-159) › Section 53-12-156 - Investments by trustees

In addition to investments in any property, the trustee of a trust created under Code Section
53-12-151
may invest any funds of the trust estate in investments authorized by trustees under the laws of this state; provided, however, that the deed creating the estate may further limit or expand the powers and authority of the trustee with respect to investments, including the power to invest in property located outside this state. The trustee shall be authorized and empowered, in accordance with the terms of the deed creating the estate, from corpus or from income or from both, to repurchase or redeem any issued and outstanding certificates of beneficial interest.
Added by 2010 Ga. Laws 506,§ 1, eff. 7/1/2010.
2023 CODE OF GEORGIA › Title 53 - WILLS, TRUSTS, AND ADMINISTRATION OF ESTATES (§§ 53-1-1 — 53-17-12) › Chapter 12 - REVISED GEORGIA TRUST CODE OF 2010 (§§ 53-12-1 — 53-12-506) › Article 8 - CREATION BY DEED TO ACQUIRE BENEFICIAL INTEREST (§§ 53-12-150 — 53-12-159) › Section 53-12-157 - Initial and annual returns

Each trust created pursuant to this article shall make a return to the Secretary of State, upon the creation of the trust and annually thereafter, in the same manner and embracing the same information, insofar as applicable, as returns by corporations which are required to be made under Articles 1 and 16 of Chapter 2 of Title 14, including the provisions with regard to fees, penalty for noncompliance, and recording and certifying of copies of the returns.
Added by 2010 Ga. Laws 506,§ 1, eff. 7/1/2010.
2023 CODE OF GEORGIA › Title 53 - WILLS, TRUSTS, AND ADMINISTRATION OF ESTATES (§§ 53-1-1 — 53-17-12) › Chapter 12 - REVISED GEORGIA TRUST CODE OF 2010 (§§ 53-12-1 — 53-12-506) › Article 8 - CREATION BY DEED TO ACQUIRE BENEFICIAL INTEREST (§§ 53-12-150 — 53-12-159) › Section 53-12-158 - How title vests on termination of estate

Upon the termination of the estate created under Code Section
53-12-151
, the legal title to all the property belonging to the estate which is then undisposed of shall pass to and vest in the persons who are, at that time, the beneficiaries of the estate, in shares corresponding to their respective interest as beneficiaries.
Added by 2010 Ga. Laws 506,§ 1, eff. 7/1/2010.
2023 CODE OF GEORGIA › Title 53 - WILLS, TRUSTS, AND ADMINISTRATION OF ESTATES (§§ 53-1-1 — 53-17-12) › Chapter 12 - REVISED GEORGIA TRUST CODE OF 2010 (§§ 53-12-1 — 53-12-506) › Article 9 - CHARITABLE TRUSTS (§§ 53-12-170 — 53-12-175) › Section 53-12-170 - Definition; charitable purposes

(a)
A charitable trust is a trust in which the settlor provides that the trust property shall be used exclusively for charitable purposes.
(b)
Charitable purposes shall include:
(1)
The relief of poverty;
(2)
The advancement of education;
(3)
The advancement of ethics and religion;
(4)
The advancement of health;
(5)
The advancement of science and the arts and humanities;
(6)
The protection and preservation of the environment;
(7)
The improvement, maintenance, or repair of cemeteries, other places of disposition of human remains, and memorials;
(8)
The prevention of cruelty to animals;
(9)
Governmental purposes; and
(10)
Other similar subjects having for their object the relief of human suffering or the promotion of human civilization.
Amended by 2020 Ga. Laws 508,§ 1-80, eff. 1/1/2021.
Added by 2010 Ga. Laws 506,§ 1, eff. 7/1/2010.
2023 CODE OF GEORGIA › Title 53 - WILLS, TRUSTS, AND ADMINISTRATION OF ESTATES (§§ 53-1-1 — 53-17-12) › Chapter 12 - REVISED GEORGIA TRUST CODE OF 2010 (§§ 53-12-1 — 53-12-506) › Article 9 - CHARITABLE TRUSTS (§§ 53-12-170 — 53-12-175) › Section 53-12-171 - Power to select purposes or beneficiaries

The settlor of a charitable trust may retain the power to select the charitable purposes or charitable beneficiaries, or may grant the trustee or any other person the power to select charitable purposes or charitable beneficiaries or to engage in the charitable purposes, without rendering the trust void for indefiniteness.
Added by 2010 Ga. Laws 506,§ 1, eff. 7/1/2010.
2023 CODE OF GEORGIA › Title 53 - WILLS, TRUSTS, AND ADMINISTRATION OF ESTATES (§§ 53-1-1 — 53-17-12) › Chapter 12 - REVISED GEORGIA TRUST CODE OF 2010 (§§ 53-12-1 — 53-12-506) › Article 9 - CHARITABLE TRUSTS (§§ 53-12-170 — 53-12-175) › Section 53-12-172 - Cy pres

If a charitable trust or gift cannot be executed in the manner provided by the settlor or donor, the superior court shall exercise equitable powers in such a way as will as nearly as possible effectuate the intention of the settlor or donor.
Added by 2010 Ga. Laws 506,§ 1, eff. 7/1/2010.
2023 CODE OF GEORGIA › Title 53 - WILLS, TRUSTS, AND ADMINISTRATION OF ESTATES (§§ 53-1-1 — 53-17-12) › Chapter 12 - REVISED GEORGIA TRUST CODE OF 2010 (§§ 53-12-1 — 53-12-506) › Article 9 - CHARITABLE TRUSTS (§§ 53-12-170 — 53-12-175) › Section 53-12-173 - Duration of charitable trusts

A charitable trust shall be valid even though under the trust provisions it is to continue for an indefinite or unlimited period.
Added by 2010 Ga. Laws 506,§ 1, eff. 7/1/2010.
2023 CODE OF GEORGIA › Title 53 - WILLS, TRUSTS, AND ADMINISTRATION OF ESTATES (§§ 53-1-1 — 53-17-12) › Chapter 12 - REVISED GEORGIA TRUST CODE OF 2010 (§§ 53-12-1 — 53-12-506) › Article 9 - CHARITABLE TRUSTS (§§ 53-12-170 — 53-12-175) › Section 53-12-174 - Attorney general or district attorney as representative of charitable beneficiaries

In all cases in which the rights of beneficiaries under a charitable trust are involved, the Attorney General or the district attorney of the circuit in which the major portion of trust property lies shall represent the interests of the beneficiaries and the interests of this state as parens patriae in all legal matters pertaining to the administration and disposition of such trust. The Attorney General or the district attorney may bring or defend actions, and, insofar as an action of this nature may be deemed an action against the state, the state expressly gives its consent thereto. The venue of such actions may be in any county in this state in which a substantial number of persons who are the beneficiaries of the trust reside. Process shall be directed to the Attorney General or to the district attorney of the circuit in which the major portion of the trust property lies. Service may be perfected by mailing a copy of the petition and process by the clerk of the superior court of the county in which it is filed to the Attorney General or to the district attorney of the circuit in which the major portion of the trust property lies. Any judgment determining rights under any charitable trusts shall be binding on the beneficiaries if the Attorney General or the district attorney of the circuit in which the major portion of the trust property lies is a party and is served as provided in this Code section.
Added by 2010 Ga. Laws 506,§ 1, eff. 7/1/2010.
2023 CODE OF GEORGIA › Title 53 - WILLS, TRUSTS, AND ADMINISTRATION OF ESTATES (§§ 53-1-1 — 53-17-12) › Chapter 12 - REVISED GEORGIA TRUST CODE OF 2010 (§§ 53-12-1 — 53-12-506) › Article 9 - CHARITABLE TRUSTS (§§ 53-12-170 — 53-12-175) › Section 53-12-175 - Enforcement by settlor

The settlor of a charitable trust may maintain a civil action to enforce the trust.
Added by 2010 Ga. Laws 506,§ 1, eff. 7/1/2010.
2023 CODE OF GEORGIA › Title 53 - WILLS, TRUSTS, AND ADMINISTRATION OF ESTATES (§§ 53-1-1 — 53-17-12) › Chapter 12 - REVISED GEORGIA TRUST CODE OF 2010 (§§ 53-12-1 — 53-12-506) › Article 10 - PROVISIONS RELATING TO CERTAIN PRIVATE FOUNDATIONS AND TRUSTS (§§ 53-12-180 — 53-12-195) › Part 1 - IN GENERAL (§§ 53-12-180 — 53-12-184) › Section 53-12-180 - Automatic amendment of articles of incorporation of corporate private foundation

Notwithstanding any provision therein to the contrary and except as provided in Code Section
53-12-181
, the articles of incorporation of any corporation which is a private foundation shall be amended automatically as of the later of the date of incorporation or January 1, 1972, to provide that the corporation shall:
(1)
Not engage in any act of self-dealing, as defined in Section 4941(d) of the federal Internal Revenue Code, which would give rise to any liability for the tax imposed by Section 4941 of the federal Internal Revenue Code;
(2)
Not retain any excess business holdings, as defined in Section 4943(c) of the federal Internal Revenue Code, which would give rise to any liability for the tax imposed by Section 4943 of the federal Internal Revenue Code;
(3)
Not make any investments which would jeopardize the carrying out of any of the exempt purposes of the corporation, within the meaning of Section 4944 of the federal Internal Revenue Code, so as to give rise to any liability for the tax imposed by Section 4944 of the federal Internal Revenue Code;
(4)
Not make any taxable expenditures, as defined in Section 4945(d) of the federal Internal Revenue Code, which would give rise to any liability for the tax imposed by Section 4945 of the federal Internal Revenue Code; and
(5)
Distribute for the purpose specified in its articles of incorporation for each taxable year amounts at least sufficient to avoid any liability for the tax imposed by Section 4942 of the federal Internal Revenue Code.
Added by 2010 Ga. Laws 506,§ 1, eff. 7/1/2010.
2023 CODE OF GEORGIA › Title 53 - WILLS, TRUSTS, AND ADMINISTRATION OF ESTATES (§§ 53-1-1 — 53-17-12) › Chapter 12 - REVISED GEORGIA TRUST CODE OF 2010 (§§ 53-12-1 — 53-12-506) › Article 10 - PROVISIONS RELATING TO CERTAIN PRIVATE FOUNDATIONS AND TRUSTS (§§ 53-12-180 — 53-12-195) › Part 1 - IN GENERAL (§§ 53-12-180 — 53-12-184) › Section 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 articles of incorporation expressly to exclude the application of Code Section
53-12-180
or any portion thereof in the manner provided by Article 10 of Chapter 2 of Title 14 or Article 8 of Chapter 3 of Title 14, whichever is applicable.
Added by 2010 Ga. Laws 506,§ 1, eff. 7/1/2010.
2023 CODE OF GEORGIA › Title 53 - WILLS, TRUSTS, AND ADMINISTRATION OF ESTATES (§§ 53-1-1 — 53-17-12) › Chapter 12 - REVISED GEORGIA TRUST CODE OF 2010 (§§ 53-12-1 — 53-12-506) › Article 10 - PROVISIONS RELATING TO CERTAIN PRIVATE FOUNDATIONS AND TRUSTS (§§ 53-12-180 — 53-12-195) › Part 1 - IN GENERAL (§§ 53-12-180 — 53-12-184) › Section 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 or be construed to cause a forfeiture or reversion of any of the property of a corporation which is subject to such Code sections.
Added by 2010 Ga. Laws 506,§ 1, eff. 7/1/2010.
2023 CODE OF GEORGIA › Title 53 - WILLS, TRUSTS, AND ADMINISTRATION OF ESTATES (§§ 53-1-1 — 53-17-12) › Chapter 12 - REVISED GEORGIA TRUST CODE OF 2010 (§§ 53-12-1 — 53-12-506) › Article 10 - PROVISIONS RELATING TO CERTAIN PRIVATE FOUNDATIONS AND TRUSTS (§§ 53-12-180 — 53-12-195) › Part 1 - IN GENERAL (§§ 53-12-180 — 53-12-184) › Section 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 a private foundation and which is subject to conditions which permit distributions to the extent of the net income of the property each year but do not permit distributions of the property or any part thereof itself, the directors of the corporation may elect to distribute so much of the property as may be necessary to enable the corporation to avoid liability for any tax imposed by Section 4942 of the federal Internal Revenue Code in the same manner as if the corporation were a trust described in Code Section
53-12-193
and the property were the only property held in the trust and as if the directors were the trustees of the trust.
Added by 2010 Ga. Laws 506,§ 1, eff. 7/1/2010.
2023 CODE OF GEORGIA › Title 53 - WILLS, TRUSTS, AND ADMINISTRATION OF ESTATES (§§ 53-1-1 — 53-17-12) › Chapter 12 - REVISED GEORGIA TRUST CODE OF 2010 (§§ 53-12-1 — 53-12-506) › Article 10 - PROVISIONS RELATING TO CERTAIN PRIVATE FOUNDATIONS AND TRUSTS (§§ 53-12-180 — 53-12-195) › Part 1 - IN GENERAL (§§ 53-12-180 — 53-12-184) › Section 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 rights and powers of the courts or the Attorney General of this state with respect to any corporation.
Added by 2010 Ga. Laws 506,§ 1, eff. 7/1/2010.
2023 CODE OF GEORGIA › Title 53 - WILLS, TRUSTS, AND ADMINISTRATION OF ESTATES (§§ 53-1-1 — 53-17-12) › Chapter 12 - REVISED GEORGIA TRUST CODE OF 2010 (§§ 53-12-1 — 53-12-506) › Article 10 - PROVISIONS RELATING TO CERTAIN PRIVATE FOUNDATIONS AND TRUSTS (§§ 53-12-180 — 53-12-195) › Part 2 - TRUSTEE DUTIES AND LIABILITIES (§§ 53-12-190 — 53-12-195) › Section 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 provided in Code Section
53-12-192
, the governing trust instrument of any trust which is a private foundation, a charitable trust, as defined in Section 4947(a)(1) of the federal Internal Revenue Code, or a split-interest trust, as defined in Section 4947(a)(2) of the federal Internal Revenue Code, shall be amended automatically as of the later of the inception of the trust or January 1, 1972, to include provisions which prohibit the trustees of the trust from:
(1)
Engaging in any act of self-dealing, as defined in Section 4941(d) of the federal Internal Revenue Code, which would give rise to any liability for the tax imposed by Section 4941 of the federal Internal Revenue Code;
(2)
Retaining any excess business holdings, as defined in Section 4943(c) of the federal Internal Revenue Code, which would give rise to any liability for the tax imposed by Section 4943 of the federal Internal Revenue Code;
(3)
Making any investments which would jeopardize the carrying out of any of the exempt purposes of the trust, within the meaning of Section 4944 of the federal Internal Revenue Code, so as to give rise to any liability for the tax imposed by Section 4944 of the federal Internal Revenue Code; and
(4)
Making any taxable expenditures, as defined in Section 4945(d) of the federal Internal Revenue Code, which would give rise to any liability for the tax imposed by Section 4945 of the federal Internal Revenue Code;
provided, however, that in the case of a split-interest trust, as defined in Section 4947(a)(2) of the federal Internal Revenue Code, paragraphs (1) through (4) of this Code section shall apply only to the extent required by Section 4947 of the federal Internal Revenue Code.
Amended by 2011 Ga. Laws 245,§ 53, eff. 5/13/2011.
Added by 2010 Ga. Laws 506,§ 1, eff. 7/1/2010.
2023 CODE OF GEORGIA › Title 53 - WILLS, TRUSTS, AND ADMINISTRATION OF ESTATES (§§ 53-1-1 — 53-17-12) › Chapter 12 - REVISED GEORGIA TRUST CODE OF 2010 (§§ 53-12-1 — 53-12-506) › Article 10 - PROVISIONS RELATING TO CERTAIN PRIVATE FOUNDATIONS AND TRUSTS (§§ 53-12-180 — 53-12-195) › Part 2 - TRUSTEE DUTIES AND LIABILITIES (§§ 53-12-190 — 53-12-195) › Section 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 provided in Code Section
53-12-192
, the governing trust instrument of any trust which is a private foundation or which is a charitable trust, as defined in Section 4947(a)(1) of the federal Internal Revenue Code, shall be amended automatically as of the later of the inception of the trust or January 1, 1972, to include a provision which requires the trustees to distribute, for the purposes specified in the governing trust instrument, for each taxable year, amounts at least sufficient to avoid any liability for the tax imposed by Section 4942 of the federal Internal Revenue Code.
Added by 2010 Ga. Laws 506,§ 1, eff. 7/1/2010.
2023 CODE OF GEORGIA › Title 53 - WILLS, TRUSTS, AND ADMINISTRATION OF ESTATES (§§ 53-1-1 — 53-17-12) › Chapter 12 - REVISED GEORGIA TRUST CODE OF 2010 (§§ 53-12-1 — 53-12-506) › Article 10 - PROVISIONS RELATING TO CERTAIN PRIVATE FOUNDATIONS AND TRUSTS (§§ 53-12-180 — 53-12-195) › Part 2 - TRUSTEE DUTIES AND LIABILITIES (§§ 53-12-190 — 53-12-195) › Section 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, a charitable trust, as defined in Section 4947(a)(1) of the federal Internal Revenue Code, or a split-interest trust, as defined in Section 4947(a)(2) of the federal Internal Revenue Code, may, without judicial proceedings, amend the governing trust instrument of the trust expressly to exclude the application of Code Section
53-12-190
or
53-12-191
, or both, by executing a written amendment to the trust and filing a duplicate original of the amendment with the Attorney General of this state, whereupon the Code section or Code sections, as the case may be, shall not apply to the trust.
Added by 2010 Ga. Laws 506,§ 1, eff. 7/1/2010.
2023 CODE OF GEORGIA › Title 53 - WILLS, TRUSTS, AND ADMINISTRATION OF ESTATES (§§ 53-1-1 — 53-17-12) › Chapter 12 - REVISED GEORGIA TRUST CODE OF 2010 (§§ 53-12-1 — 53-12-506) › Article 10 - PROVISIONS RELATING TO CERTAIN PRIVATE FOUNDATIONS AND TRUSTS (§§ 53-12-180 — 53-12-195) › Part 2 - TRUSTEE DUTIES AND LIABILITIES (§§ 53-12-190 — 53-12-195) › Section 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

(a)
With respect to any trust which is a private foundation or a charitable trust, as defined in Section 4947(a)(1) of the federal Internal Revenue Code, the governing trust instrument of which permits distributions to the extent of the net income of the trust each year but does not permit distributions from trust principal, the trustees of the trust may elect, without judicial proceedings and notwithstanding any provision to the contrary contained in the governing trust instrument of the trust, to distribute in any year, for the purposes specified in the governing trust instrument, that amount from the principal of the trust which, when added to the income of the trust available for distribution during such year, will enable the trust to avoid any liability for the tax imposed by Section 4942 of the federal Internal Revenue Code by filing a written election, which may be a continuing one, with the Attorney General of this state to have this Code section and Code Section
53-12-183
apply to the trust. A distribution from trust principal pursuant to the election shall only be in the form of cash or securities which are either listed or admitted to unlisted trading privileges upon any stock exchange or are quoted regularly in any newspaper having a general circulation in this state.
(b)
Any election made under subsection (a) of this Code section may be revoked at any time by filing written notice of revocation with the Attorney General of this state.
Added by 2010 Ga. Laws 506,§ 1, eff. 7/1/2010.
2023 CODE OF GEORGIA › Title 53 - WILLS, TRUSTS, AND ADMINISTRATION OF ESTATES (§§ 53-1-1 — 53-17-12) › Chapter 12 - REVISED GEORGIA TRUST CODE OF 2010 (§§ 53-12-1 — 53-12-506) › Article 10 - PROVISIONS RELATING TO CERTAIN PRIVATE FOUNDATIONS AND TRUSTS (§§ 53-12-180 — 53-12-195) › Part 2 - TRUSTEE DUTIES AND LIABILITIES (§§ 53-12-190 — 53-12-195) › Section 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 or be construed to cause a forfeiture or reversion of any of the property of a trust which is subject to such Code sections or to make the purposes of such trust impossible of accomplishment.
Added by 2010 Ga. Laws 506,§ 1, eff. 7/1/2010.
2023 CODE OF GEORGIA › Title 53 - WILLS, TRUSTS, AND ADMINISTRATION OF ESTATES (§§ 53-1-1 — 53-17-12) › Chapter 12 - REVISED GEORGIA TRUST CODE OF 2010 (§§ 53-12-1 — 53-12-506) › Article 10 - PROVISIONS RELATING TO CERTAIN PRIVATE FOUNDATIONS AND TRUSTS (§§ 53-12-180 — 53-12-195) › Part 2 - TRUSTEE DUTIES AND LIABILITIES (§§ 53-12-190 — 53-12-195) › Section 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 rights and powers of the courts or the Attorney General of this state with respect to any trust.
Added by 2010 Ga. Laws 506,§ 1, eff. 7/1/2010.
2023 CODE OF GEORGIA › Title 53 - WILLS, TRUSTS, AND ADMINISTRATION OF ESTATES (§§ 53-1-1 — 53-17-12) › Chapter 12 - REVISED GEORGIA TRUST CODE OF 2010 (§§ 53-12-1 — 53-12-506) › Article 11 - TRUSTEES (§§ 53-12-200 — 53-12-221) › Part 1 - GENERAL PROVISIONS (§§ 53-12-200 — 53-12-204) › Section 53-12-200 - Capacity of trustee

A trustee shall have legal capacity under Georgia law to acquire, hold, and transfer title to property. An individual shall be eligible to serve as a trustee regardless of citizenship or residency. If the trustee is a corporation, partnership, or other entity, it shall be required to have the power to act as a trustee in Georgia.
Added by 2010 Ga. Laws 506,§ 1, eff. 7/1/2010.
2023 CODE OF GEORGIA › Title 53 - WILLS, TRUSTS, AND ADMINISTRATION OF ESTATES (§§ 53-1-1 — 53-17-12) › Chapter 12 - REVISED GEORGIA TRUST CODE OF 2010 (§§ 53-12-1 — 53-12-506) › Article 11 - TRUSTEES (§§ 53-12-200 — 53-12-221) › Part 1 - GENERAL PROVISIONS (§§ 53-12-200 — 53-12-204) › Section 53-12-201 - Appointment and vacancies

(a)
A settlor may appoint trustees or grant that power to others, including trust beneficiaries.
(b)
A trust shall never fail for want of a trustee.
(c)
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.
(d)
The qualified beneficiaries may appoint a trustee by unanimous consent.
(e)
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.
(f)
The petition provided for in subsection (e) of this Code section shall be served upon all qualified beneficiaries.
(g)
A trustee appointed as a successor trustee shall have all the authority of the original trustee.
Amended by 2018 Ga. Laws 366,§ 14, eff. 7/1/2018.
Amended by 2011 Ga. Laws 181,§ 10, eff. 5/12/2011.
Added by 2010 Ga. Laws 506,§ 1, eff. 7/1/2010.
2023 CODE OF GEORGIA › Title 53 - WILLS, TRUSTS, AND ADMINISTRATION OF ESTATES (§§ 53-1-1 — 53-17-12) › Chapter 12 - REVISED GEORGIA TRUST CODE OF 2010 (§§ 53-12-1 — 53-12-506) › Article 11 - TRUSTEES (§§ 53-12-200 — 53-12-221) › Part 1 - GENERAL PROVISIONS (§§ 53-12-200 — 53-12-204) › Section 53-12-202 - Acceptance

(a)
The acceptance of a trust shall be necessary to constitute a person as trustee. Acceptance may be effected by acts as well as words. After acceptance, the trustee shall not decline the trusteeship.
(b)
Except as otherwise provided in subsection (c) of this Code section, a person designated as trustee accepts the trusteeship:
(1)
By substantially complying with a method of acceptance provided in the trust instrument; or
(2)
If the trust instrument does not provide a method or the method provided in the trust instrument is not expressly made exclusive, by accepting delivery of the trust property, exercising powers or performing duties as trustee, or otherwise indicating acceptance of the trusteeship.
(c)
A person designated as trustee, without accepting the trusteeship, may act to preserve the trust property if, as soon as practicable, the person rejects or declines the trusteeship.
Added by 2010 Ga. Laws 506,§ 1, eff. 7/1/2010.