Georgia's New Trust Code

If you're one of the few who's been watching closely, you've noticed that it's been almost two decades since The Georgia Legislature made any serious changes to its Trust Code (the law which governs how trusts are created and function in Georgia).  Finally, we have news in this important area!  On May 27 of this year, the Governor signed The Revised Georgia Trust Code of 2010 into law.  You can find a copy of the new law here.

This law makes many clarifications and technical changes to the law of trusts in Georgia.  Among the most noted changes are provisions granting trustees broader powers to work with trust property and sections allowing pet trusts under Georgia law (think Leona Helmsley, for a point of reference).  As Georgia State University College of Law Professor Mary Radford, one of the primary writers of Georgia's new Trust Code put it, "Now people can set up trusts for their beloved four legged friends, knowing they will be well cared for when the pet owner dies or is otherwise unable to provide that care."  On the question of the significance of the change to the Code, Professor Radford goes on to say, "Georgia will now have one of the most sophisticated and thorough set of trust laws in the United States."