Dismuke v. Abbott

Birdsong, Presiding Judge.

This is a dispute over trust accounts as defined in OCGA § 7-1-810 (14), and it is a case of first impression.

In February 1988, R. T. Dismuke and his wife Greta Dismuke each purchased savings certificates and set up a trust account. Each trust account was designated on its signature card as a “Revocable Trust.” The revocable trust account set up by R. T. Dismuke named himself as trustee and named Mrs. Dismuke as beneficiary. The revocable trust account set up by Mrs. Dismuke named herself as trustee and named R. T. as beneficiary. Both revocable trust accounts were…