Official Code of Georgia Annotated

Title 53. WILLS, TRUSTS, AND ADMINISTRATION OF ESTATES · Chapter 12. TRUSTS · Article 13. TRUSTEES’ DUTIES AND POWERS · Part 1. DUTIES OF TRUSTEE

53-12-241. Duty of prudent administration.

Active

Current through: Including Acts of the 2025 Regular Session of the General Assembly.

(a)
In administering a trust, the trustee shall exercise the judgment and care of a prudent person acting in a like capacity and familiar with such matters, considering the purposes, provisions, distribution requirements, and other circumstances of the trust.#
(b)
A trustee who invests and manages trust assets owes a duty to the beneficiaries of the trust to comply with the prudent investor rule set forth in Article 16 of this chapter.#

The notes below are printed with the section but are not enacted law (O.C.G.A. § 1-1-1(c)). They are shown apart from the text.

History

Code 1981, § 53-12-241, enacted by Ga. L. 2010, p. 579, § 1/SB 131; Ga. L. 2020, p. 377, § 1-82/HB 865. The 2020 amendment, effective January 1, 2021, designated the previously existing provisions as subsection (a) and added subsection (b).

Read the official page (the state's PDF, opened at the page this text was read from).

Current through: Including Acts of the 2025 Regular Session of the General Assembly.

Text read from t52-t53-(v40)-2021-pdf.pdf, Volume V40, 2021 edition, pages 881 to 882; merge action: carried; file SHA-256 062775612dfc.