§ 53-7-12 - (Pre-1998 Probate Code) Disposition of income of estate received by executor during administration - Georgia Statutes

State Codes and Statutes

Statutes > Georgia > Title-53 > Chapter-7 > Article-1 > 53-7-12

O.C.G.A. 53-7-12 (2010)
53-7-12. (Pre-1998 Probate Code) Disposition of income of estate received by executor during administration

(a) Income received by an executor during the period of administration from property which is used to pay debts, taxes, expenses of administration, general legacies, and other expenses chargeable to the corpus of the estate shall be disposed of in the same manner as other income of the estate received from property not so used and shall be deemed part of such other income; provided, however, that nothing contained in this Code section shall alter or repeal Code Section 53-2-96.

(b) Any testator may provide in his last will and testament for a disposition of income from the corpus of the estate used for the purpose of paying debts, taxes, expenses, general legacies, and other expenses chargeable to the corpus of the estate, notwithstanding any provisions in subsection (a) of this Code section to the contrary.

State Codes and Statutes

Statutes > Georgia > Title-53 > Chapter-7 > Article-1 > 53-7-12

O.C.G.A. 53-7-12 (2010)
53-7-12. (Pre-1998 Probate Code) Disposition of income of estate received by executor during administration

(a) Income received by an executor during the period of administration from property which is used to pay debts, taxes, expenses of administration, general legacies, and other expenses chargeable to the corpus of the estate shall be disposed of in the same manner as other income of the estate received from property not so used and shall be deemed part of such other income; provided, however, that nothing contained in this Code section shall alter or repeal Code Section 53-2-96.

(b) Any testator may provide in his last will and testament for a disposition of income from the corpus of the estate used for the purpose of paying debts, taxes, expenses, general legacies, and other expenses chargeable to the corpus of the estate, notwithstanding any provisions in subsection (a) of this Code section to the contrary.

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State Codes and Statutes

Statutes > Georgia > Title-53 > Chapter-7 > Article-1 > 53-7-12

O.C.G.A. 53-7-12 (2010)
53-7-12. (Pre-1998 Probate Code) Disposition of income of estate received by executor during administration

(a) Income received by an executor during the period of administration from property which is used to pay debts, taxes, expenses of administration, general legacies, and other expenses chargeable to the corpus of the estate shall be disposed of in the same manner as other income of the estate received from property not so used and shall be deemed part of such other income; provided, however, that nothing contained in this Code section shall alter or repeal Code Section 53-2-96.

(b) Any testator may provide in his last will and testament for a disposition of income from the corpus of the estate used for the purpose of paying debts, taxes, expenses, general legacies, and other expenses chargeable to the corpus of the estate, notwithstanding any provisions in subsection (a) of this Code section to the contrary.