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Scott v. South Trust Asset Management Co.

The probate court properly reformed as trust that violated the rule against perpetuities.

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One of the appellees, South Trust Asset Management, is trustee of a trust that all the parties agree violates the rule against perpetuities. South Trust petitioned the trial court for direction regarding the payment of the assets of the trust. Pursuant to OCGA § 44-6-205 b,1 the trial court reformed the trust to provide that upon the death of the testator’s son, the lineal descendants of the son would receive the income from the trust for 21 years or until the death of the last surviving lineal descendant, whichever first occurred. The trial court also ruled that at the end of that time period, the corpus of the trust would be distributed to the then living lineal descendants of the son, if any, and if there were no living lineal descendants of the son, the corpus would be distributed to two charities named in the testator’s will. Contrary to the appellants’ contention, we conclude that the trial court properly reformed the trust pursuant to the authority of § 44-6-205 b,2 and, accordingly, we affirm the trial court’s judgment.

Judgment affirmed. All the Justices concur.

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