72.200 Express Trusts; Requirements | Pdf Doc Docx | Georgia_JI

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72.200 Express Trusts; Requirements | Pdf Doc Docx | Georgia_JI

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72.200 Express Trusts; Requirements

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72.200 Express Trusts; Requirements An express trust shall be created or declared in writing. An express trust shall have each of the following elements, ascertainable with reasonable certainty: (1) an intention by a settlor to create a trust; (2) trust property; (3) a beneficiary; (4) a trustee; and (5) active duties imposed on the trustee, duties of which may be specified in the writing or implied by law. O.C.G.A. §53-12-20 No formal words are necessary to create an express trust. Words otherwise precatory in nature will create a trust only if they are sufficiently imperative to show a settlor's intention to impose enforceable duties on a trustee and if all other elements of an express trust are present. O.C.G.A. §53-12-21 Precatory words are words whose ordinary significance imports entreaty, recommendation, or expectation rather than any mandatory direction. Raines v. Duskin, 247 Ga. 512, 523 (1981) Herring v. Dunning, 213 Ga. App. 695 (1994)

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