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Call Now: 904-383-7448Notwithstanding the breadth of discretion granted 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.
(Code 1981, §53-12-260, enacted by Ga. L. 2010, p. 579, § 1/SB 131.)
- For annual survey on wills, trusts, guardianships, and fiduciary administration, see 64 Mercer L. Rev. 325 (2012).
- Trial court did not err when the court granted the trustees summary judgment on the son's claims for breach of trust and breach of fiduciary duty because there was no evidence of bad faith, and, therefore, judicial intervention into the trustees' consistent decisions to treat all beneficiaries, including themselves, equally in the form of per stirpes distributions was not authorized; the son produced no evidence that the trustees ignored the beneficiaries' means of support, but even if the trustees had done so, the trustees could, in the trustees' discretion, exclude the beneficiaries' resources from their consideration on the basis of both: (i) the trust instrument's grant to distribute either equal or unequal amounts to each of the settlor's children; and (ii) the trustees' personal knowledge concerning the settlor's intended treatment of the children. McPherson v. McPherson, 307 Ga. App. 548, 705 S.E.2d 314 (2011).
- Trial court erred in concluding that a widow's considerable powers of control over two testamentary trusts as trustee and executor entitled her to summary judgment on two of the children's/beneficiaries' claims against the trust created for the purpose of supporting them during their lifetimes; she was required to diligently and in good faith ascertain whether they required support, and her powers over the assets did not entitle her to commit waste. Peterson v. Peterson, 303 Ga. 211, 811 S.E.2d 309 (2018).
- 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).
- Jury question was presented as to whether two trustees of their children's trusts acted against the interests of the beneficiaries (their children) in bad faith by amending a partnership agreement to concentrate all voting power in themselves to the exclusion of the beneficiaries, who otherwise would have become partners when they turned 45. Likewise, the trustees as partners owed duties to the trusts as partners in the partnership. Rollins v. Rollins, 338 Ga. App. 308, 790 S.E.2d 157 (2016).
Total Results: 2
Court: Supreme Court of Georgia | Date Filed: 2018-03-05
Citation: 811 S.E.2d 309
Snippet: good faith" (citing to OCGA §§ 53-12-7 (a) (4) ; 53-12-260) ); Restatement (Third) of Trusts § 86, comment
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: (a) Reliance claims that, pursuant to OCGA § 53-12-260,1 the language used in this trust instrument must