Unless any separate written agreement provides otherwise:
(Code 1981, §53-12-211, enacted by Ga. L. 2010, p. 579, § 1/SB 131; Ga. L. 2011, p. 551, § 11/SB 134.)
The 2011 amendment, effective May 12, 2011, inserted a comma following "terms of the trust" in paragraph (1).
Law reviews.- For article on the problems and benefits of multiple fiduciaries in estate planning, see 33 Mercer L. Rev. 355 (1981).
JUDICIAL DECISIONS
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).
RESEARCH REFERENCES
Am. Jur. 2d.
- 76 Am. Jur. 2d, Trusts, § 574.
C.J.S.- 90 C.J.S., Trusts, §§ 259. 90A C.J.S., Trusts, § 402.
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.