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2018 Georgia Code 53-12-1 | Car Wreck Lawyer

Link to State of Georgia Official Statute 2018 Georgia Code Annotated (sourced from legal.resource.org)
O.C.G.A. 53-12-1 Case Law from Google Scholar Amendments to OCGA 53-12-1

TITLE 53 WILLS, TRUSTS, AND ADMINISTRATION OF ESTATES

Section 12. (Revised Trust Code of 2010) Trusts, 53-12-1 through 53-12-506.

ARTICLE 1 GENERAL PROVISIONS

53-12-1. Short title; effect on existing trusts.

  1. This chapter shall be known and may be cited as "The Revised Georgia Trust Code of 2010."
  2. Except to the extent it would impair vested rights and except as otherwise provided by law, the provisions contained in this chapter shall apply to any trust regardless of the date such trust was created.

(Code 1981, §53-12-1, enacted by Ga. L. 2010, p. 579, § 1/SB 131.)

Code Commission notes.

- Pursuant to Code Section 28-9-5, in 2010, "This chapter" was substituted for "This Act" at the beginning of subsection (a).

Law reviews.

- For article, "'Rarely Utilized': The Georgia Business Trust Code," see 14 Ga. St. B.J. 12 (2008). For annual survey on wills, trusts, guardianships, and fiduciary administration, see 65 Mercer L. Rev. 295 (2013). For article, "Self-Settled Asset Protection Trusts in Georgia," see 23 Ga. St. B. J. 17 (Feb. 2018).

JUDICIAL DECISIONS

Retroactive application prohibited.

- Rights of the decedent's surviving spouse were already vested when the Revised Georgia Trust Code of 2010 (Revised Code), O.C.G.A. § 53-12-1 et seq., was enacted because under the terms of the amended trust agreement, the surviving spouse's rights to the trust assets took effect upon the decedent's death before the Revised Code took effect. Accordingly, any new obligation imposed by the Revised Code that would have impaired the surviving spouse's right to possession could not be applied retroactively. Rose v. Waldrip, 316 Ga. App. 812, 730 S.E.2d 529 (2012), cert. denied, No. S12C1888, 2012 Ga. LEXIS 981 (Ga. 2012).

Retroactive applicability of statute of limitations.

- Revised Georgia Trust Code's provisions apply to any trust irrespective of the date the trust was created, with two exceptions: to the extent it would impair vested rights, and except as otherwise provided by law. There is no vested right in a statute of limitation, and to the extent that Mayfield v. Heiman, 317 Ga. App. 322, (2012), suggests that O.C.G.A. § 53-12-307(a) does not apply retroactively, that suggestion is non-binding dicta. Smith v. SunTrust Bank, 325 Ga. App. 531, 754 S.E.2d 117 (2014).

Jury instruction on standard of care.

- In a breach of trust action, the trial court did not apply an incorrect standard of care in that a co-trustee could only be held liable if the co-trustee failed to act in good faith because if there was any error, the error was created by the co-trustee since the co-trustee consented to the instructions given and failed to request a charge that clearly set forth what the co-trustee asserted to be the proper standard for acts performed with absolute discretion. Reliance Trust Co. v. Candler, 294 Ga. 15, 751 S.E.2d 47 (2013).

Cases Citing O.C.G.A. § 53-12-1

Total Results: 6  |  Sort by: Relevance  |  Newest First

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Citizens & S. Nat'l Bank v. Haskins, 327 S.E.2d 192 (Ga. 1985).

Cited 63 times | Published | Supreme Court of Georgia | Mar 14, 1985 | 254 Ga. 131

...The bank argues that in this equitable action against a trustee, attorney fees are not allowable as a matter of law. It is also argued that the failure of the jury to award punitive damages establishes that there was no fraud or bad faith. This enumeration is based upon the principle that trusts are subjects of equity, OCGA § 53-12-1, and relief is generally, though not always, sought through courts of equity....
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Gibson v. Gibson, 301 Ga. 622 (Ga. 2017).

Cited 34 times | Published | Supreme Court of Georgia | Jun 5, 2017 | 801 S.E.2d 40

...As explained in Rose, the Trust Code as revised in 2010 expressly applies to any trust regardless of the date created, subject to two exceptions: (1) “to the extent [application of the Revised Code] would impair vested rights” and (2) “except as otherwise provided by law.” OCGA § 53-12-1 (b)....
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Eason v. Farmer, 409 S.E.2d 509 (Ga. 1991).

Cited 13 times | Published | Supreme Court of Georgia | Oct 18, 1991 | 261 Ga. 675

...Eason subsequently expended funds for a variety of services and repairs to the home. 1. Mrs. Eason contends that her monetary contributions to the purchase, renovation, and maintenance of the home created an implied trust, giving her an interest in the real property. Under the Georgia Trust Act, OCGA §§ 53-12-1 et seq....
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Speed v. Speed, 430 S.E.2d 348 (Ga. 1993).

Cited 12 times | Published | Supreme Court of Georgia | Jun 7, 1993 | 263 Ga. 166, 93 Fulton County D. Rep. 2110

...1939, 1942) should not bear upon the validity of this trust, created before the repeal, as such would be contrary to the constitutional prohibition against retroactive laws, 1983 Ga. Const., Art. I, Sec. I, Par. X. In 1991, the General Assembly adopted the Georgia Trust Act (OCGA § 53-12-1 et seq.) (the "Act")....
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Reliance Trust Co. v. Candler, 294 Ga. 15 (Ga. 2013).

Cited 9 times | Published | Supreme Court of Georgia | Nov 4, 2013 | 751 S.E.2d 47, 2013 Fulton County D. Rep. 3328

...Brinson, Askew, Berry, Seigler, Richardson & Davis, Robert M. Brinson, Norman S. Fletcher, Lee B. Carter, amici curiae. After the date this ease was tried but before Reliance filed its motion for new trial, the Revised Georgia Trust Code of 2010, OCGA § 53-12-1 et seq., became effective....
...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.” The parties do not appear to dispute that, pursuant to OCGA § 53-12-1 (b), this Code section applies to the trust in this case. We note that even these cases, while referencing the term “bona fide” or good faith, also recite the same broader general standard of care set forth in the jury instructions given in this case. This new Code section is materially identical to formerOCGA § 53-12-193, in effect at the time of the trial.
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Collins v. Citizens & S. Trust Co., 373 S.E.2d 612 (Ga. 1988).

Cited 1 times | Published | Supreme Court of Georgia | Nov 10, 1988 | 258 Ga. 665

...See, e.g., Saffold v. Cheatham, 221 Ga. 155 (143 SE2d 629) (1965); O'Callaghan v. Bank of Eastman, 180 Ga. 812 (1) (180 SE 847) (1935); Wallace v. Mize, 153 Ga. 374 (3) (112 SE 724) (1922); Hill v. Clark, 48 Ga. 526 (1873); OCGA §§ 23-2-91; 23-2-92; 23-4-4, and 53-12-1....
...[4] In this regard, the appellees observe that, of course, the revenue commissioner's supervisory duties under the Charitable Trust Act do not commence until the charitable trust becomes operational. See OCGA §§ 53-12-95; 53-12-96, and 53-12-97. And, it is also pointed out that under OCGA § 53-12-100, the Act does not apply to religious corporations or organizations holding property for religious purposes.