Georgia § 53-12-302 Damages for breach of trust; interest

Georgia Statutes

§ 53-12-302 — Damages for breach of trust; interest

(a)A trustee who commits a breach of trust shall be personally chargeable with any damages resulting from such breach of trust, including, but not limited to:

(1)Any loss or depreciation in value of the trust property as a result of such breach of trust, with interest;

(2)Any profit made by the trustee through such breach of trust, with interest;

(3)Any amount that would reasonably have accrued to the trust or beneficiary if there had been no breach of trust, with interest; and (4) In the discretion of the court, expenses of litigation, including reasonable attorney's fees incurred in bringing an action on such breach or threat to commit such breach.

(b)If the trustee is liable for interest, then the amount of the liability for interest shall be the greater of:

(1)The amount of inter

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(a) A trustee who commits a breach of trust shall be personally chargeable with any damages resulting from such breach of trust, including, but not limited to: (1) Any loss or depreciation in value of the trust property as a result of such breach of trust, with interest; (2) Any profit made by the trustee through such breach of trust, with interest; (3) Any amount that would reasonably have accrued to the trust or beneficiary if there had been no breach of trust, with interest; and (4) In the discretion of the court, expenses of litigation, including reasonable attorney's fees incurred in bringing an action on such breach or threat to commit such breach. (b) If the trustee is liable for interest, then the amount of the liability for interest shall be the greater of: (1) The amount of interest that accrues at the legal rate on judgments; or (2) The amount of interest actually received.

Georgia § 53-12-302 (Damages for breach of trust; interest) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.