CopyCited 13 times | Published | Supreme Court of Georgia | Jan 8, 1996 | 266 Ga. 143, 96 Fulton County D. Rep. 170
...See C & S Nat. Bank v. Orkin,
223 Ga. 385, 388(1),
156 S.E.2d 86 (1967). It follows that the trial court's grant of an involuntary dismissal of the claim for Trustee's removal was not an abuse of discretion and must, therefore, be affirmed. 5. OCGA §
53-12-152(a)(1) authorizes the termination of a trust if the costs of its administration are such as to defeat or substantially impair its purposes. However, Beneficiary produced no evidence either to prove the costs of administering the trust or to show that those costs would defeat or substantially impair its purposes. OCGA §
53-12-152(a)(2) authorizes the termination of a trust if its purpose has been fulfilled....
...ing his lifetime and for distribution of the trust property to his descendants at his death. Obviously, that purpose will not have been fulfilled so long as Beneficiary remains alive. See McBride v. Bullard,
188 Ga. 354(1),
4 S.E.2d 149 (1939). OCGA §
53-12-152(a)(3) authorizes the termination of a trust if, owing to unknown and unanticipated circumstances, its continuance would defeat or substantially impair accomplishment of its purposes....
...he purposes of the trust, because the security deed is void and must be cancelled for the reasons discussed in Division 3. Compare Evans v. Newton,
221 Ga. 870,
148 S.E.2d 329 (1966). The evidence did not demand a termination of the trust under OCGA §
53-12-152(a)(1), (2) or (3), and, therefore, the trial court did not err in its grant of an involuntary dismissal of Beneficiary's claim under those statutory provisions....
...t based upon Beneficiary's contention that he was the Settlor-sole beneficiary. 7. Beneficiary urges that it was error for the trial court to fail to terminate the trust in the general exercise of its equity jurisdiction and its authority under OCGA §
53-12-152(a) to protect the interests of beneficiaries....
CopyCited 1 times | Published | Supreme Court of Georgia | Oct 7, 1996 | 267 Ga. 234, 96 Fulton County D. Rep. 3538
...Barnes IV and Howard opposed the proposed disbursement, on the ground that it was excessive and would deplete the trust's assets. Trustee sought a declaratory judgment as to whether it could make the proposed distribution to Barnes III or, alternatively, divide the trust between him and his children pursuant to OCGA §
53-12-152(b)....
...n of the remainder beneficiaries. Folsom v. First Nat. *565 Bank of Atlanta, supra. See also Wright v. Trust Co. Bank of Northwest Ga.,
260 Ga. 414,
396 S.E.2d 213 (1990); DeLoach v. Miller,
157 Ga.App. 229,
276 S.E.2d 897 (1981). By its terms, OCGA §
53-12-152(b) prohibits division of the trust unless such a division would be consistent with the testator's intent and would be in the best interest of all beneficiaries without materially impairing their respective interests....
