The Act amends several aspects of trust law, including updating the application of the Uniform Statutory Rule Against Perpetuities in Georgia by extending the time within which a nonvested property interest or power of appointment must vest from 90 to 360 years. The Act also allows for modifications of a trust without judicial approval in some cases. Many passages are simplified, including the calculation of compensation for a trustee, which can now be modified through different procedures. Finally, the Act codifies the role of trust directors.
Colt Burnett & Ben Dell'Orto,
HB 121 - Property, Wills, Trusts, and Estates,
Ga. St. U. L. Rev.
Available at: https://readingroom.law.gsu.edu/gsulr/vol35/iss1/13
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