Staff Analysis of the Legislation
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HB 456 amends Chapter 12 of Title 53 of the O.C.G.A., so as to establish qualified self-settled spendthrift trusts. If there is a vacancy in the position of the qualified trustee that occurs for any reason, and there is no other one designated by the trust or agreed upon by all qualified beneficiaries, the court may appoint one according to Code Section 53-12-62. The court may also appoint a person to the position of independent qualified trustee in the same manner and pursuant to Code Section 53-12-62. |
