The Act provides for the termination of otherwise irrevocable trusts which have become economically unfeasible to administer. A court is permitted to terminate such trusts under certain circumstances upon petition by the trustee or any beneficiary of the trust. The Act repeals Code section 53-12-25, which provided that a trust could be created only for a minor, an incompetent, or a person unfit to be entrusted with the management of property.
"WILLS, TRUSTS, AND ADMINISTRATION OF ESTATES Trusts: Provide for Termination of Irrevocable Trusts in Certain Circumstances,"
Georgia State University Law Review:
1, Article 37.
Available at: http://readingroom.law.gsu.edu/gsulr/vol5/iss1/37