Editor's notes.

- In light of the similarity of the statutory provisions, decisions under former O.C.G.A. § 53-12-172 of the 1991 Trust Act are included in the annotations for this Code section.

Paragraph (3) inapplicable to acts prior to effective date.

- Trustee's appointment of a successor trustee before the trustee's death was not permitted under a trust instrument which provided for appointment of a successor for any deceased trustee by a majority of the surviving trustees, nor was paragraph (3) of former O.C.G.A. § 53-12-172 (see O.C.G.A. § 53-12-204) applicable, since it did not become effective until July 1, 1991, after the appointment of the successor and after the death of the appointing trustee, and the trustee was not authorized by the trust instrument to appoint the trustee's successor. Ferst v. Ferst, 208 Ga. App. 846, 432 S.E.2d 227 (1993) (decided under former O.C.G.A. § 53-12-172).

Absence of co-trustee's signature.

- Because nothing in the trust instrument authorized any actions contrary to former O.C.G.A. § 53-12-172 (see O.C.G.A. § 53-12-204), a co-trustee's failure to sign a purchase and sales agreement involving trust property did not make the contract unenforceable, despite the co-trustee's awareness of the sales negotiations, because the co-trustee: (1) did not have a duty to speak during the negotiations without any direct involvement therein; (2) had not been approached by anyone to sign the agreement; and (3) was entirely unaware that a signature was necessary to convey the trust property; thus, the co-trustee was not precluded from objecting to the sale of the trust property. Peach Consol. Props., LLC v. Carter, 278 Ga. App. 273, 628 S.E.2d 680 (2006) (decided under former O.C.G.A. § 53-12-172).

Law reviews.

- For article on the problems and benefits of multiple fiduciaries in estate planning, see 33 Mercer L. Rev. 355 (1981). For annual survey of law on wills, trusts, guardianships, and fiduciary administration, see 62 Mercer L. Rev. 365 (2010).

Editor's notes.

- In light of the similarity of the statutory provisions, decisions under former Code 1933, § 108-432, former O.C.G.A. § 53-13-29, and former O.C.G.A. § 53-12-173 of the 1991 Trust Act are included in the annotations for this Code section.

Trustee allowed distribution fee of up to 3 percent of value of assets distributed. Lettie Pate Whitehead Found., Inc. v. United States, 606 F.2d 534 (5th Cir. 1979) (decided under former Code 1933, § 108-432).

Administrator not entitled to compensation as trustee.

- Administrator was not entitled to additional compensation under former O.C.G.A. § 53-12-173 (see O.C.G.A. §§ 53-12-210 and53-12-211), governing compensation of a trustee, when assets were never transferred from the estate to a trust, the administrator did not manifest any act to hold the property as trustee, and the administrator's conduct did not show assent to the estate property being passed to the trust under O.C.G.A. § 53-8-15(b). In re Estate of Moore, 292 Ga. App. 236, 664 S.E.2d 259 (2008) (decided under former O.C.G.A. § 53-12-173).

Cited in Trust Co. v. Woodruff, 236 Ga. 220, 223 S.E.2d 91 (1976); Trust Co. Bank v. Heyward, 240 Ga. 557, 242 S.E.2d 257 (1978).

Am. Jur. 2d.

- 76 Am. Jur. 2d, Trusts, § 574.

C.J.S.

- 90 C.J.S., Trusts, §§ 259. 90A C.J.S., Trusts, § 383.

ALR.

- Right to double commission where same person, natural or corporate, is named as executor and trustee, 84 A.L.R. 667; 85 A.L.R.2d 537.

Trustee's commission in case of successive trusts, or of single trust for benefit of different persons in succession, 85 A.L.R. 163.

Compensation of executor, administrator, or trustee as affected by change in statute after decedent's death and before final account, or after creation of trust, 91 A.L.R. 1421.

Compensation of testamentary trustee for conducting business or taking active part in management of corporation, 99 A.L.R. 961.

Compensation of trustee as affected by neglect or violation of his duties, 110 A.L.R. 566.

Trustee's compensation as payable from income or corpus, 117 A.L.R. 1154.

Expenses of trust administration, such as court costs, costs of litigation, bond premiums, attorneys' fees, etc., as payable from income or corpus, 124 A.L.R. 1183.

Right of creditors to reach by garnishment or other process, commissions of debtor, as executor, administrator, or trustee, 143 A.L.R. 190.

Trustee's right to compensation as affected by provision of trust instrument that contemplates future agreement in that regard between trustee and beneficiary or other person, 165 A.L.R. 772.

Right to double compensation where same person (natural or corporate) acts as executor and trustee, 85 A.L.R.2d 537.

Limiting effect of provision in contract, will, or trust instrument fixing trustee's or executor's fees, 19 A.L.R.3d 520.

Resignation or removal of executor, administrator, guardian, or trustee, before final administration or before termination of trust, as affecting his compensation, 96 A.L.R.3d 1102.