Official Code of Georgia Annotated

Title 53. WILLS, TRUSTS, AND ADMINISTRATION OF ESTATES · Chapter 12. TRUSTS · Article 5. SPENDTHRIFT PROVISIONS AND CREDITORS’ RIGHTS AND CLAIMS

53-12-83. Creditors’ claims against property that is subject to withdrawal right.

Active

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

For purposes of this article, the holder of a power of withdrawal, during the period that the power may be exercised, shall be treated in the same manner as the settlor of a revocable trust to the extent of the property subject to the power, and the lapse, release, or waiver of a power of withdrawal shall not cause the holder to be treated as a donor of the trust.

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, § 53-12-83, enacted by Ga. L. 2010, p. 579, § 1/SB 131; Ga. L. 2025, p. 806, § 76/HB 327, effective July 1, 2025.

Amendments

The 2025 amendment, effective July 1, 2025, substituted “For purposes of this article,” for “The” in the first sentence and, substituted “power, and the” for “power. The”, and “donor” for “settlor” in the second sentence.

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)-pdf.pdf, Volume V40, 2021 edition, 2025 supplement, page 105; merge action: replaced; file SHA-256 d9d2be0e71ce.