Estate of Henry A. Lassiter, deceased, Paula Ann Masters Lassiter, administrator, C.T.A. - Page 38

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          the one set forth in section 20.2056(b)-5(f)(7), Estate Tax                   
          Regs.:  “An interest passing in trust fails to satisfy the                    
          condition * * * , that the spouse be entitled to all the income,              
          to the extent that the income is required to be accumulated in                
          whole or in part or may be accumulated in the discretion of any               
          person other than the surviving spouse”.  We therefore must                   
          decide, in light of State law, whether the Item V trust, as                   
          affected by the disclaimers, authorizes accumulation or requires              
          full annual distribution.                                                     
               Ga. Code Ann. section 53-12-190, upon which the estate                   
          relies, provides in relevant part:                                            
               53-12-190.  Trustee Duties.                                              
                    (a) The duties contained in this chapter are                        
               applicable except as otherwise provided in the trust                     
               instrument, and are in addition to and not in                            
               limitation of the common law duties of the trustee,                      
               except to the extent inconsistent therewith.                             
                         *     *    *    *    *    *    *                               
                    (c) The trustee shall distribute all net income                     
               derived from the trust at least annually.                                
               Our inquiry thus becomes whether the 1970 will “otherwise                
          provide[s]” within the meaning of the statute.  Unfortunately,                
          research has revealed no opinions from courts located within the              
          State of Georgia which address subsection (c) of Ga. Code Ann.                
          section 53-12-190 and its relationship to subsection (a).                     
          However, this statute is the successor to Ga. Code Ann. sections              
          108-445 and 108-446 (Code 1933), which were construed by the U.S.             

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