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2018 Georgia Code 53-12-7 | Car Wreck Lawyer

Link to State of Georgia Official Statute 2018 Georgia Code Annotated (sourced from legal.resource.org)
O.C.G.A. 53-12-7 Case Law from Google Scholar Amendments to OCGA 53-12-7

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

53-12-7. When trust and chapter conflict.

  1. The effect of the provisions of this chapter may be varied by the trust instrument except:
    1. As to any requirements relating to the creation and validity of express trusts as provided in Article 2 of this chapter;
    2. As to the effect of the rules relating to spendthrift trusts as provided in Article 5 of this chapter;
    3. As to the power of the beneficiaries to modify a trustee's compensation as provided in Code Section 53-12-210;
    4. As to the duty of a trustee to administer the trust and to exercise discretionary powers in good faith as provided in Code Sections 53-12-240 and 53-12-260;
    5. As to the effect of a provision relieving a trustee from liability as provided in Code Section 53-12-303; and
    6. As to the periods of limitation on actions as provided in Code Sections 53-12-45 and 53-12-307.
  2. Nothing in a trust instrument shall prohibit or limit a court from taking any actions authorized by the provisions of this chapter.

(Code 1981, §53-12-7, enacted by Ga. L. 2010, p. 579, § 1/SB 131; Ga. L. 2011, p. 551, § 7/SB 134.)

The 2011 amendment, effective May 12, 2011, substituted "53-12-303" for "53-12-290" in paragraph (a)(5).

JUDICIAL DECISIONS

Trust instrument controlled.

- In an appeal of an order granting a trustees' motion for summary judgment on a claim for breach of trust and breach of fiduciary duty, the court of appeals proceeded under the Revised Georgia Trust Code, O.C.G.A. § 53-12-1 et seq., as supplemented by the common law because even assuming that past distributions under the trust amounted to vested rights, the plaintiff could not show that the Revised Trust Code created any new trustees' obligations or impaired those rights in any relevant way; although the Revised Trust Code did not require a trustee to consider the resources of any beneficiary when determining whether to distribute trust property, O.C.G.A. § 53-12-245, the trust instrument affirmatively directed the trustees to do so. McPherson v. McPherson, 307 Ga. App. 548, 705 S.E.2d 314 (2011).

Trustee's/executor's powers did not entitle trustee to ignore purpose of trust or commit waste.

- 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).

Jury question as to whether duty of good faith breached.

- 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).

Cases Citing Georgia Code 53-12-7 From Courtlistener.com

Total Results: 3

Peterson v. Peterson

Court: Supreme Court of Georgia | Date Filed: 2018-03-05

Citation: 811 S.E.2d 309

Snippet: discretionary powers in good faith" (citing to OCGA §§ 53-12-7 (a) (4) ; 53-12-260) ); Restatement (Third) of

Fortner v. Town of Register

Court: Supreme Court of Georgia | Date Filed: 2004-10-12

Citation: 604 S.E.2d 175, 278 Ga. 625

Snippet: supplement the Uniform Commercial Code); OCGA § 53-12-7 (common law principles supplement Georgia Trust

Aycock v. Aycock

Court: Supreme Court of Georgia | Date Filed: 1983-06-07

Citation: 303 S.E.2d 456, 251 Ga. 104

Snippet: equity "to render the trust effectual." OCGA § 53-12-7 (Code Ann. § 108-423). The jury expressed an intent