Syfert Injury Law Firm
Your Trusted Partner in Personal Injury & Workers' Compensation
Call Now: 904-383-7448Your Trusted Partner in Personal Injury & Workers' Compensation
Call Now: 904-383-7448
(Code 1981, §53-12-1, enacted by Ga. L. 2010, p. 579, § 1/SB 131.)
- Pursuant to Code Section 28-9-5, in 2010, "This chapter" was substituted for "This Act" at the beginning of subsection (a).
- 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).
- 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).
- 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).
- 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).
Total Results: 6
Court: Supreme Court of Georgia | Date Filed: 2017-06-05
Citation: 301 Ga. 622, 801 S.E.2d 40, 2017 WL 2417057, 2017 Ga. LEXIS 455
Snippet: “except as otherwise provided by law.” OCGA § 53-12-1 (b). The Georgia Constitution also forbids passage
Court: Supreme Court of Georgia | Date Filed: 2013-11-04
Citation: 294 Ga. 15, 751 S.E.2d 47, 2013 Fulton County D. Rep. 3328, 2013 WL 5878124, 2013 Ga. LEXIS 888
Snippet: the Revised Georgia Trust Code of 2010, OCGA § 53-12-1 et seq., became effective. Ga. L. 2010, p. 579
Court: Supreme Court of Georgia | Date Filed: 1993-06-07
Citation: 430 S.E.2d 348, 263 Ga. 166, 93 Fulton County D. Rep. 2110, 1993 Ga. LEXIS 476
Snippet: Assembly adopted the Georgia Trust Act (OCGA § 53-12-1 et seq.) (the "Act"). The wife does not dispute
Court: Supreme Court of Georgia | Date Filed: 1991-10-18
Citation: 409 S.E.2d 509, 261 Ga. 675, 1991 Ga. LEXIS 830
Snippet: property. Under the Georgia Trust Act, OCGA §§ 53-12-1 et seq.[2], an implied trust is either a resulting
Court: Supreme Court of Georgia | Date Filed: 1988-11-10
Citation: 373 S.E.2d 612, 258 Ga. 665, 1988 Ga. LEXIS 498
Snippet: (1873); OCGA §§ 23-2-91; 23-2-92; 23-4-4, and 53-12-1. See also Crocker-Citizens Nat. Bank v. Younger
Court: Supreme Court of Georgia | Date Filed: 1985-03-14
Citation: 327 S.E.2d 192, 254 Ga. 131
Snippet: principle that trusts are subjects of equity, OCGA § 53-12-1, and relief is generally, though not always, sought