Georgia Code Title 53. Wills, Trusts, and Administration of Estates § 53-12-2

(1) “Ascertainable standard” means a standard relating to an individual's health, education, support, or maintenance within the meaning of Section 2041(b)(1)(A) or 2514(c)(1) of the federal Internal Revenue Code of 1986.

(2) “Beneficiary” means a person for whose benefit property is held in trust, regardless of the nature of the interest, and includes any beneficiary, whether vested or contingent, born or unborn, ascertained or unascertained.

(3) “Express trust” means a trust as described in Code Section 53-12-20.

(4) “Foreign entity” means:

(5) “Implied trust” means a resulting trust as described in Code Section 53-12-130 or a constructive trust as described in Code Section 53-12-132.

(6) “Nonresident” means an individual who does not reside in Georgia.

(7) “Person” means an individual, corporation, partnership, association, joint-stock company, business trust, unincorporated organization, limited liability company, or other legal entity, including any of the foregoing acting as a fiduciary.

(8) “Private foundation” means a private foundation as defined in Section 509 of the federal Internal Revenue Code.

(9) “Property” means any type of property, whether real or personal, tangible or intangible, legal or equitable, and shall include digital assets and electronic communications, as such terms are defined in Code Section 53-13-2.

(10) “Qualified beneficiary” means a living individual or other existing person who, on the date of determination of beneficiary status:

(11) “Settlor” means the person who creates the trust, including a testator in the case of a testamentary trust.

(12) “Spendthrift provision” means a provision in a trust instrument that prohibits transfers of a beneficiary's interest in the income or principal or both.

(13) “Trust” means an express trust or an implied trust but shall not include trusts created by statute or the Constitution of Georgia.

(14) “Trust instrument” means the document, including any testamentary instrument, that contains the trust provisions.

(15) “Trust property” means property the legal title to which is held by the trustee. The term also includes choses in action, claims, and contract rights, including a contractual right to receive death benefits as the designated beneficiary under a policy of insurance, contract, employees' trust, or other arrangement.

(16) “Trustee” means the person or persons holding legal title to the property in trust.