By Hampton & Hampton LLP | Estate Planning Attorneys Serving Atlanta, Alpharetta, and North Metro Suburbs
Being named a trustee in Georgia can feel overwhelming — especially when you’re suddenly responsible for lakefront property in Hall County, investment accounts spread across multiple states, and impatient beneficiaries. Whether appointed after a loved one’s passing or during their lifetime, Georgia trustees face a unique mix of legal, financial, and practical decisions that demand immediate attention.
At Hampton & Hampton LLP, we help trustees in Atlanta, Alpharetta, Roswell, Milton, Johns Creek, Cumming, and surrounding areas understand their duties, avoid legal pitfalls, and complete trust administration efficiently and in compliance with Georgia law.
What Is a Trustee Under Georgia Law?
A trustee is the individual or institution responsible for managing trust assets according to the trust agreement and in the beneficiaries’ best interests. This is a fiduciary duty, meaning you must act:
- Loyally
- Responsibly
- In good faith
- In compliance with Georgia trust statutes
Under the Georgia Uniform Trust Code (O.C.G.A. § 53-12-300 et seq.), trustees must administer the trust in good faith, in accordance with its terms, and for the benefit of the beneficiaries. Failing to meet these obligations can lead to personal legal liability, including court-ordered removal, financial restitution, and possible surcharge judgments.
First Steps for a Newly Appointed Trustee in Georgia
If you have just learned you are a trustee, act quickly to establish control and ensure compliance.
1. Review the Trust Document in Full
Identify:
- All named beneficiaries
- Your scope of authority and responsibilities
- Whether the trust is revocable or irrevocable
- Instructions for distributions
- Administrative powers such as selling property or investing assets
2. Locate and Secure All Trust Assets
Trust assets may include:
- Real estate
- Bank and brokerage accounts
- Life insurance proceeds
- Personal property
- Business interests
Georgia-Specific Tip:
- Assets intended for the trust but not yet titled in its name (e.g., via payable-on-death designations or pour-over wills) must be formally transferred to the trust through proper documentation.
- File a change of ownership with the county tax assessor for real property to ensure tax records reflect the trust as the owner and avoid delays in future transactions.
3. Notify Beneficiaries and Interested Parties
Georgia law may require formal notice of your appointment and disclosures about the beneficiaries’ interests. Under O.C.G.A. § 53-12-243, trustees must provide written notice of their name and address to qualified beneficiaries within 60 days of accepting the trusteeship or becoming aware of the trust’s existence. Meeting this deadline prevents potential disputes and ensures compliance with Georgia’s trust code
4. Determine Whether the Trust Needs an EIN
Not all trusts require a separate tax ID. In Georgia, an EIN is generally required if:
- The trust becomes irrevocable after the grantor’s death and remains active
- You are sole trustee and sole beneficiary but intend to keep assets in trust temporarily or long-term
If assets are distributed immediately and the trust terminates, an EIN may not be needed.
5. Keep Detailed Records and Provide Accountings
Georgia trustees must maintain records of all deposits, distributions, expenses, and communications with beneficiaries. Regular accountings are often required and serve as protection against claims of mismanagement.
Special Case: Trustee and Sole Beneficiary
If you are both trustee and sole beneficiary—common when an only child inherits a parent’s trust—Georgia law still requires you to:
- Review the trust document to confirm your role
- Retitle or distribute assets into your name
- Pay outstanding expenses, debts, and taxes
- Document all transactions
- Formally terminate the trust once obligations are met
What Most Trustees Miss — and How We Close the Gaps
Many first-time trustees in Georgia make avoidable mistakes, such as:
- Not re-titling real estate into the trust’s name before sale or transfer
- Overlooking final tax obligations before distribution
- Failing to secure digital and online accounts tied to trust assets
- Missing statutory notice deadlines to beneficiaries
We help trustees anticipate these issues before they become costly problems.
When to Call an Attorney for Trust Administration
Legal guidance for your business is highly recommended if:
- Beneficiaries dispute your decisions
- The trust owns a business or real estate
- The trust document is unclear or outdated
- Tax filings are required
- You are unsure about deadlines or your legal authority
- You discover assets in another state — multi-state trust administration can trigger separate tax filings, ancillary probate, and compliance with the other state’s trust or property laws, which can significantly complicate the process.
FAQs – Georgia Trust Administration
Q: How long does trust administration take in Georgia?
A: It depends on the complexity of the assets and the clarity of the trust document. Simple trusts may be closed in months; others can remain active for years.
Q: Do I need to file taxes for the trust?
A: If the trust generates income or remains active after the grantor’s death, you likely need to file a trust tax return. An EIN is typically required in these cases.
Q: Can I be paid for serving as trustee in Georgia?
A: Yes. Trustees are generally entitled to “reasonable compensation” under Georgia law unless the trust document specifies otherwise.
Serving Metro Atlanta and North Fulton: Alpharetta, Johns Creek, Roswell, Milton, Sandy Springs, Cumming, and surrounding areas
Call: 470-567-1529
Schedule Your Consultation: hamptonandhamptonlaw.com