What Are My Duties as Trustee in Georgia?
Step-by-step guide for administering a trust after the grantor passes away. Answer a few questions to get a personalized checklist for your situation.
Frequently Asked Questions
A successor trustee in Georgia has a fiduciary duty to manage trust assets prudently, notify beneficiaries, pay debts and taxes, and distribute assets according to the trust terms.O.C.G.A. § 53-12-1 et seq.Verified May 30, 2026 Unlike probate, trust administration is private and does not require court involvement.
Georgia requires the successor trustee to notify qualified beneficiaries of the trust's existence and the trustee's contact information within 60 days of the grantor's death.O.C.G.A. § 53-12-1 et seq.Verified May 30, 2026 The notice typically includes the trustee's name and address, and the beneficiary's right to request trust information.
When the grantor dies, the revocable trust becomes irrevocable and requires its own EIN (Employer Identification Number) from the IRS. The trustee must file Form 1041 (U.S. Income Tax Return for Estates and Trusts) for any income earned by trust assets after the date of death. The trust may also need to file a Georgia state income tax return.
Georgia requires trustees to maintain detailed records of all trust transactions, including income, expenses, distributions, and investment decisions.O.C.G.A. § 53-12-1 et seq.Verified May 30, 2026 Beneficiaries have the right to request accountings. Proper documentation protects the trustee from liability claims and provides transparency for beneficiaries.
Trustee compensation in Georgia is based on reasonable compensation for the services performed. Professional trustees typically charge 0.5-1.5% of trust assets annually. Individual (non-professional) trustees often reference executor fee guidelines (2-5% of estate value) as a benchmark. See the Georgia trustee compensation guide for details.
Trust administration in Georgia typically takes 6-12 months, compared to 9-12 months for average probate cases.O.C.G.A. § 7-1-239 (small estate), § 53-2-40 (no administration necessary), § 53-6-50 (bond), § 53-6-53 (testate bond exemption), § 53-6-60 (executor fees), § 53-7-6 (attorney fees), § 53-7-41 (creditor claims/publication)Verified May 30, 2026 Trust creditors have 3 months to file claims, compared to 3 months for probate creditor claims. Trust administration avoids court involvement, public filings, and many of the procedural delays associated with probate. See the Georgia estate settlement guide for a complete overview.
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Georgia Estate Planning Resources
In-depth guides covering Georgia probate laws, trust requirements, and estate planning strategies.
