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GA HB1124
Bill
Status
Introduced
3/5/2020
Primary Sponsor
Todd Jones
Click for details
AI Summary
- Prohibits a personal representative of an estate from contracting for compensated labor or services from any person or entity in which the representative has a direct or indirect financial or personal interest, and from receiving or directing referral fees from such persons or entities
- Allows an exception to the prohibition if all heirs or beneficiaries provide written consent after the personal representative discloses all terms of the contract or referral fee arrangement in writing, and the probate court approves
- Permits a guardian, conservator, or court-appointed guardian ad litem to provide consent on behalf of any non sui juris (legally incompetent) heir or beneficiary
- Extends the same conflict-of-interest restrictions to trustees by making the trustee's power to employ and compensate advisors and agents subject to the new disclosure and consent requirements under Code Section 53-7-6
- Preserves the personal representative's right to petition for extra compensation under existing Code Section 53-6-62
Legislative Description
Wills, trusts, and administration of estates; written disclosure and the consent of heirs or beneficiaries before a personal representative of an estate may enter into certain contracts; require
Last Action
House Second Readers
3/10/2020
Full Bill Text
No bill text available