Trust Administration Attorney in Northeast Georgia

When the grantor of a revocable living trust dies or becomes incapacitated, the successor trustee takes over management of the trust. Unlike probate, trust administration usually happens without court supervision. That gives trustees more flexibility and more personal responsibility.

Trustee Duties Under Georgia Law

Georgia's Trust Code (O.C.G.A. § 53-12-1 et seq.) imposes significant duties on trustees, including loyalty (acting solely in the beneficiaries' interest), prudence (investing as a prudent investor would), keeping beneficiaries reasonably informed and reporting to them, and impartiality among beneficiaries with different interests.

The Administration Process

A successor trustee typically notifies the beneficiaries, inventories trust assets, works with financial institutions to transfer accounts, files any required tax returns, makes distributions to beneficiaries according to the trust terms, and ultimately terminating the trust when its purposes are complete.

Trustee Liability

A trustee who breaches their fiduciary duty can be personally liable to beneficiaries for any resulting losses. Common traps include self-dealing, undiversified investments, poor communication with beneficiaries, and imprudent distributions. We advise trustees early so they avoid them.