Va. Code Ann. § 64.2-701 — Virginia Code / Title 64.2 / Subtitle III / Chapter 7 / Article 1 / Section 64.2-701
Definitions
Status: in_force

As used in this chapter, unless the context requires a different meaning:

"Action," with respect to an act of a trustee, includes a failure to act.

"Appointive property" means the property or property interest subject to a power of appointment.

"Ascertainable standard" means a standard relating to an individual's health, education, support, or maintenance within the meaning of § 2041(b)(1)(A) or 2514(c)(1) of the Internal Revenue Code of 1986 and any applicable regulations.

"Authorized fiduciary" means (i) a trustee or other fiduciary, other than a settlor, that has discretion to distribute or direct a trustee to distribute part or all of the income or principal of the first trust to one or more current beneficiaries and that is not (a) a current beneficiary of the first trust or a beneficiary to which the net income or principal of the first trust would be distributed if the first trust were terminated, (b) a trustee of the first trust that may be removed and replaced by a current beneficiary who has the power to remove the existing trustee of the first trust and designate as successor trustee a person that may be a related or subordinate party, as defined in 26 U.S.C. § 672(c), with respect to such current beneficiary, or (c) an individual trustee whose legal obligation to support a beneficiary may be satisfied by distributions of income and principal of the first trust; (ii) a special fiduciary appointed under § 64.2-779.6 ; or (iii) a special-needs fiduciary under § 64.2-779.10 .

"Beneficiary" means a person that (i) has a present or future, vested or contingent, beneficial interest in a trust; (ii) holds a power of appointment over trust property; or (iii) is an identified charitable organization that will or may receive distributions under the terms of the trust.

"Charitable interest" means an interest in a trust that (i) is held by an identified charitable organization and makes the organization a qualified beneficiary; (ii) benefits only charitable organizations and, if the interest were held by an identified charitable organization, would make the organization a qualified beneficiary; or (iii) is held solely for charitable purposes and, if the interest were held by an identified charitable organization, would make the organization a qualified beneficiary.

"Charitable organization" means (i) a person, other than an individual, organized and operated exclusively for charitable purposes or (ii) a government or governmental subdivision, agency, or instrumentality, to the extent that it holds funds exclusively for a charitable purpose.

"Charitable purpose" means the relief of poverty, the advancement of education or religion, the promotion of health, a municipal or other governmental purpose, or another purpose the achievement of which is beneficial to the community.

"Charitable trust" means a trust, or portion of a trust, created for a charitable purpose described in § 64.2-723 .

"Conservator" means a person appointed by the court to administer the estate of an adult individual.

"Court" means the court of the Commonwealth having jurisdiction in matters related to trusts.

"Current beneficiary" means a beneficiary that on the date the beneficiary's qualification is determined is a distributee or permissible distributee of trust income or principal. "Current beneficiary" includes the holder of a presently exercisable general power of appointment but does not include a person that is a beneficiary only because the person holds any other power of appointment.

"Decanting power" means the power of an authorized fiduciary under the Uniform Trust Decanting Act (§ 64.2-779.1 et seq.) to distribute property of a first trust to one or more second trusts or to modify the terms of the first trust.

"Directed trustee" means a trustee that is subject to a trust director's power of direction.

"Electronic" means relating to technology having electrical, digital, magnetic, wireless, optical, electromagnetic, or similar capabilities.

"Environmental law" means a federal, state, or local law, rule, regulation, or ordinance relating to protection of the environment.

"Expanded distributive discretion" means a discretionary power of distribution that is not limited to an ascertainable standard or a reasonably definite standard.

"First trust" means a trust over which an authorized fiduciary may exercise the decanting power.

"First-trust instrument" means the trust instrument for a first trust.

"General power of appointment" means a power of appointment exercisable in favor of a powerholder, the powerholder's estate, a creditor of the powerholder, or a creditor of the powerholder's estate.

"Guardian" means a person appointed by the court to make decisions regarding the support, care, education, health, and welfare of a minor or adult individual. The term does not include a guardian ad litem.

"Guardian of the estate" means a person appointed by the court to administer the estate of a minor.

"Interests of the beneficiaries" means the beneficial interests provided in the terms of the trust.

"Jurisdiction," with respect to a geographic area, includes a state or country.

"Person" means an individual; estate; business or nonprofit entity; government; governmental subdivision, agency, or instrumentality; public corporation; or other legal entity.

"Powerholder" means a person in which a donor creates a power of appointment.

"Power of appointment" means a power that enables a powerholder acting in a nonfiduciary capacity to designate a recipient of an ownership interest in or another power of appointment over the appointive property. "Power of appointment" does not include a power of attorney.

"Power of direction" means a power over a trust granted to a person by the terms of the trust to the extent the power is exercisable while the person is not serving as a trustee. The term includes a power over the investment, management, or distribution of trust property or other matters of trust administration. The term excludes the powers described in subsection A of § 64.2-779.28 .

"Power of withdrawal" means a presently exercisable general power of appointment other than a power exercisable by a trustee that is limited by an ascertainable standard, or that is exercisable by another person only upon consent of the trustee or a person holding an adverse interest.

"Presently exercisable power of appointment" means a power of appointment exercisable by the powerholder at the relevant time. "Presently exercisable power of appointment" includes a power of appointment exercisable only after the occurrence of a specified event, the satisfaction of an ascertainable standard, or the passage of a specified time, only after (i) the occurrence of the specified event, (ii) the satisfaction of the ascertainable standard, or (iii) the passage of the specified time. "Presently exercisable power of appointment" does not include a power exercisable only at the powerholder's death.

"Property" means anything that may be the subject of ownership, whether real or personal, legal or equitable, or any interest therein.

"Qualified beneficiary" means a beneficiary who, on the date the beneficiary's qualification is determined, (i) is a distributee or permissible distributee of trust income or principal; (ii) would be a distributee or permissible distributee of trust income or principal if the interests of the distributees described in clause (i) terminated on that date without causing the trust to terminate; or (iii) would be a distributee or permissible distributee of trust income or principal if the trust terminated on that date.

"Reasonably definite standard" means a clearly measurable standard under which a holder of a power of distribution is legally accountable within the meaning of § 674(b)(5)(A) of the Internal Revenue Code of 1986 and any applicable regulations.

"Record" means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form.

"Revocable," as applied to a trust, means revocable by the settlor without the consent of the trustee or a person holding an adverse interest.

"Second trust" means (i) a first trust after modification, including a restatement of the first trust, under the Uniform Trust Decanting Act (§ 64.2-779.1 et seq.) or (ii) a trust to which a distribution of property from a first trust is or may be made under the Uniform Trust Decanting Act (§ 64.2-779.1 et seq.).

"Second-trust instrument" means the trust instrument for a second trust.

"Settlor," except as otherwise provided in § 64.2-779.22 , means a person, including a testator, who creates or contributes property to a trust. If more than one person creates or contributes property to a trust, each person is a settlor of the portion of the trust property attributable to that person's contribution except to the extent another person has the power to revoke or withdraw that portion.

"Sign" means, with present intent to authenticate or adopt a record, (i) to execute or adopt a tangible symbol or (ii) to attach to or logically associate with the record an electronic symbol, sound, or process.

"Spendthrift provision" means a term of a trust that restrains both voluntary and involuntary transfer of a beneficiary's interest.

"State" means a state of the United States, the District of Columbia, Puerto Rico, the United States Virgin Islands, or any territory or insular possession subject to the jurisdiction of the United States. The term includes an Indian tribe or band recognized by federal law or formally acknowledged by a state.

"Terms of a trust" means:

1. Except as otherwise provided in subdivision 2, the manifestation of the settlor's intent regarding a trust's provisions as (i) expressed in the trust instrument or (ii) established by other evidence that would be admissible in a judicial proceeding; or

2. The trust's provisions as established, determined, or amended by (i) a trustee or trust director in accordance with applicable law, (ii) court order, or (iii) a nonjudicial settlement agreement under § 64.2-709 .

"Trust director" means a person that is granted a power of direction by the terms of a trust to the extent the power is exercisable while the person is not serving as a trustee. The person is a trust director whether or not the terms of the trust refer to the person as a trust director and whether or not the person is a beneficiary or settlor of the trust.

"Trust instrument" means a record signed by the settlor to create a trust or by any person to create a second trust that contains some or all of the terms of the trust, including any amendments.

"Trustee" includes an original, additional, and successor trustee and a cotrustee.

2005, c. 935 , § 55-541.03; 2012, c. 614 ; 2017, c. 592 ; 2018, c. 476 ; 2020, c. 768 ; 2025, c. 74 .
Va. Code Ann. § 64.2-2112 — Virginia Code / Title 64.2 / Subtitle IV / Part D / Chapter 21 / Article 2 / Section 64.2-2112
Notice of proceeding
Status: in_force

If a petition for the appointment of a guardian or issuance of a conservatorship order is brought in the Commonwealth and the Commonwealth was not the respondent's home state on the date the petition was filed, in addition to complying with the notice requirements of the Commonwealth, notice of the petition shall be given to those persons who would be entitled to notice of the petition if a proceeding were brought in the respondent's home state. The notice shall be given in the same manner as notice is required to be given in the Commonwealth.

2011, c. 518 , § 37.2-1044; 2012, c. 614 .
Va. Code Ann. § 64.2-303 — Virginia Code / Title 64.2 / Subtitle II / Chapter 3 / Article 1 / Section 64.2-303
Extension of time until after determination of action for construction of will or extent of augmented estate
Status: in_force

If (i) a will is of doubtful import as to the amount or value of the property the surviving spouse of the decedent is to receive thereunder or (ii) the composition or value of the augmented estate is uncertain, and an action to resolve such issues is pending, the court in which the action is pending shall, upon the application of the surviving spouse made within the six-month period set forth in § 64.2-302 , enter an order extending the time within which the surviving spouse may make a claim for an elective share. Such additional period within which to make a claim for an elective share shall not exceed 90 days after a final order has been entered in such suit, either by a trial court or any appellate court to which it is appealed.

Code 1950, § 64-14; 1968, c. 656, § 64.1-14; 1990, c. 831; 2012, c. 614 .
Va. Code Ann. § 64.2-102 — Virginia Code / Title 64.2 / Subtitle I / Chapter 1 / Article 2 / Section 64.2-102
Meaning of child and related terms
Status: in_force

If, for purposes of this title or for determining rights in and to property pursuant to any deed, will, trust, or other instrument, a relationship of parent and child must be established to determine succession or a taking by, through, or from a person, the following shall apply:

1. An adopted person is the child of an adopting parent and not of the biological parents, except that adoption of a child by the spouse of a biological parent has no effect on the relationship between the child and either biological parent.

2. The parentage of a child has been determined as provided in Chapter 3.1 (§ 20-49.1 et seq.) or Chapter 9 (§ 20-156 et seq.) of Title 20 or § 63.2-1913 or 63.2-1914 .

3. Except as otherwise provided by subdivision 1 or 2, a person born out of wedlock is a child of the mother. That person is also a child of the father, if:

a. The biological parents participated in a marriage ceremony before or after the birth of the child, even though the attempted marriage was prohibited by law, deemed null or void, or dissolved by a court; or

b. Paternity is established by clear and convincing evidence, including scientifically reliable genetic testing, as set forth in § 64.2-103 ; however, paternity established pursuant to this subdivision is ineffective to qualify the father or his kindred to inherit from or through the child unless the father has openly treated the child as his and has not refused to support the child.

4. No claim of succession based upon the relationship between a child born out of wedlock and a deceased parent of such child shall be recognized unless, within one year of the date of the death of such parent (i) an affidavit by such child or by someone acting for such child alleging such parenthood has been filed in the clerk's office of the circuit court of the jurisdiction wherein the property affected by such claim is located and (ii) an action seeking adjudication of parenthood is filed in an appropriate circuit court. The one-year limitation period runs notwithstanding the minority of such child; however, it does not apply in those cases where the relationship between the child born out of wedlock and the parent in question is established by (a) a birth record prepared upon information given by or at the request of such parent; (b) admission by such parent of parenthood before any court or in writing under oath; or (c) a previously entered judgment establishing such parent's paternity by a court having jurisdiction to determine his paternity.

5. Unless otherwise specifically provided therein, an order terminating residual parental rights under § 16.1-283 terminates the rights of the parent to take from or through the child in question but the order does not otherwise affect the rights of the child, the child's kindred, or the parent's kindred to take from or through the parent or the rights of the parent's kindred to take from or through the child.

1978, c. 647, § 64.1-5.1; 1989, c. 466; 1994, c. 919 ; 1998, c. 603 ; 1999, c. 781 ; 2009, c. 449 ; 2012, c. 614 ; 2026, c. 369 .
Va. Code Ann. § 64.2-1609 — Virginia Code / Title 64.2 / Subtitle IV / Part B / Chapter 16 / Article 1 / Section 64.2-1609
Coagents and successor agents
Status: in_force

A. A principal may designate two or more persons to act as coagents. Unless the power of attorney otherwise provides, each coagent may exercise its authority independently.

B. A principal may designate one or more successor agents to act if an agent resigns, dies, becomes incapacitated, is not qualified to serve, or declines to serve. A principal may grant authority to designate one or more successor agents to an agent or other person designated by name, office, or function. Unless the power of attorney otherwise provides, a successor agent (i) has the same authority as that granted to the original agent; and (ii) may not act until all predecessor agents have resigned, died, become incapacitated, are no longer qualified to serve, or have declined to serve.

C. Except as otherwise provided in the power of attorney and subsection D, an agent that does not participate in or conceal a breach of fiduciary duty committed by another agent, including a predecessor agent, is not liable for the actions of the other agent.

D. An agent that has actual knowledge of a breach or imminent breach of fiduciary duty by another agent shall notify the principal and, if the principal is incapacitated, take any action reasonably appropriate in the circumstances to safeguard the principal's best interest. An agent that fails to notify the principal or take action as required by this subsection is liable for the reasonably foreseeable damages that could have been avoided if the agent had notified the principal or taken such action.

2010, cc. 455 , 632 , § 26-82; 2012, c. 614 .
Va. Code Ann. § 64.2-768 — Virginia Code / Title 64.2 / Subtitle III / Chapter 7 / Article 8 / Section 64.2-768
Trustee's skills
Status: in_force

A trustee who has special skills or expertise, or is named trustee in reliance upon the trustee's representation that the trustee has special skills or expertise, shall use those special skills or expertise.

2005, c. 935 , § 55-548.06; 2012, c. 614 .
Va. Code Ann. § 64.2-130 — Virginia Code / Title 64.2 / Subtitle I / Chapter 1 / Article 3.1 / Section 64.2-130
Custodian compliance and immunity
Status: in_force

A. Not later than 60 days after receipt of the information required under §§ 64.2-121 through 64.2-129 , a custodian shall comply with a request under this article from a fiduciary or designated recipient to disclose digital assets or terminate an account. If the custodian fails to comply, the fiduciary or designated recipient may apply to the court for an order directing compliance.

B. An order under subsection A directing compliance shall contain a finding that compliance is not in violation of 18 U.S.C. § 2702.

C. A custodian may notify the user that a request for disclosure or to terminate an account was made under this article.

D. A custodian may deny a request under this article from a fiduciary or designated recipient for disclosure of digital assets or to terminate an account if the custodian is aware of any lawful access to the account following the receipt of the fiduciary's request.

E. This article does not limit a custodian's ability to obtain or require a fiduciary or designated recipient requesting disclosure or termination under this article to obtain a court order that:

1. Specifies that an account belongs to a protected person or principal;

2. Specifies that there is sufficient consent from the protected person or principal to support the requested disclosure; and

3. Contains a finding required by law other than this article.

F. A custodian and its officer, employees, and agents are immune from liability for an act or omission done in good faith in compliance with this article.

2017, cc. 33 , 80 .
Va. Code Ann. § 64.2-723 — Virginia Code / Title 64.2 / Subtitle III / Chapter 7 / Article 4 / Section 64.2-723
Charitable purposes; enforcement
Status: in_force

A. A charitable trust may be created for the relief of poverty, the advancement of education or religion, the promotion of health, governmental or municipal purposes, or other purposes the achievement of which is beneficial to the community.

B. If the terms of a charitable trust do not indicate a particular charitable purpose or beneficiary, the court may select one or more charitable purposes or beneficiaries. The selection shall be consistent with the settlor's intention to the extent it can be ascertained.

C. The settlor of a charitable trust, among others, may maintain a proceeding to enforce the trust.

2005, c. 935 , § 55-544.05; 2012, c. 614 .
Va. Code Ann. § 64.2-2006 — Virginia Code / Title 64.2 / Subtitle IV / Part D / Chapter 20 / Article 1 / Section 64.2-2006
Counsel for respondent
Status: in_force

The respondent has the right to be represented by counsel of the respondent's choice. If the respondent is not represented by counsel, the court may appoint legal counsel upon the filing of the petition or at any time prior to the entry of the order upon request of the respondent or the guardian ad litem, if the court determines that counsel is needed to protect the respondent's interest. Counsel appointed by the court shall be paid a fee that is fixed by the court to be taxed as part of the costs of the proceeding.

A health care provider shall disclose or make available to the attorney, upon request, any information, records, and reports concerning the respondent that the attorney determines necessary to perform his duties under this section, including a copy of the evaluation report required under § 64.2-2005 .

1997, c. 921 , § 37.1-134.12; 2004, cc. 66 , 1014 ; 2005, c. 716 , § 37.2-1006; 2012, c. 614 .
Va. Code Ann. § 64.2-539 — Virginia Code / Title 64.2 / Subtitle II / Chapter 5 / Article 7 / Section 64.2-539
Definitions
Status: in_force

For the purposes of this article:

"Gross estate" includes any property or interest that is required to be included in the gross estate of the decedent under the estate tax law of the United States, increased by any "adjusted taxable gifts" as defined in § 2001(b) of the Internal Revenue Code.

"Persons interested in the estate" includes all persons, firms, and corporations who may be entitled to receive or who have received any property or interest that is required to be included in the gross estate of the decedent or any benefit whatsoever with respect to any such property or interest, whether under a will, by intestacy, or by reason of any transfer, trust, estate, interest, right, power, or relinquishment of power taxable under any estate tax law of the Commonwealth, any other state, or the United States heretofore or hereafter enacted.

Code 1950, § 64-150; 1968, c. 656, § 64.1-160; 1979, c. 559; 1981, c. 98; 1994, c. 917 ; 2012, c. 614 .
Va. Code Ann. § 64.2-600 — Virginia Code / Title 64.2 / Subtitle II / Chapter 6 / Article 1 / Section 64.2-600
Definitions
Status: in_force

For the purposes of this article, the following definitions apply:

"Designated successor" means one or more successors who are designated pursuant to subdivision A 7 of § 64.2-601 .

"Person" means any individual, corporation, business trust, fiduciary, estate, trust, partnership, limited liability company, association, joint venture, government, governmental subdivision, agency, or instrumentality, public corporation, or any other legal or commercial entity.

"Small asset" means any indebtedness owed to or any asset belonging or presently distributable to the decedent, other than real property, having a value, on the date of the decedent's death, of no more than $75,000. A small asset includes any bank account, savings institution account, credit union account, brokerage account, security, deposit, tax refund, overpayment, item of tangible personal property, or an instrument evidencing a debt, obligation, stock, or chose in action.

"Successor" means any person, other than a creditor, who is entitled under the decedent's will or the laws of intestacy to part or all of a small asset.

1981, c. 281, § 64.1-132.1; 2010, c. 269 ; 2012, c. 614 ; 2025, c. 148 .
Va. Code Ann. § 64.2-795 — Virginia Code / Title 64.2 / Subtitle III / Chapter 7 / Article 10 / Section 64.2-795
Attorney fees and costs
Status: in_force

In a judicial proceeding involving the administration of a trust, the court, as justice and equity may require, may award costs and expenses, including reasonable attorney fees, to any party, to be paid by another party or from the trust that is the subject of the controversy.

2005, c. 935 , § 55-550.04; 2012, c. 614 .
Va. Code Ann. § 64.2-710 — Virginia Code / Title 64.2 / Subtitle III / Chapter 7 / Article 2 / Section 64.2-710
Role of court in administration of trust
Status: in_force

A. The court may intervene in the administration of a trust to the extent its jurisdiction is invoked by an interested person or as provided by law.

B. Except as provided in Part A (§ 64.2-1200 et seq.) of Subtitle IV, a trust is not subject to continuing judicial supervision unless ordered by the court.

C. A judicial proceeding involving a trust may relate to any matter involving the trust's administration, including a request for instructions and an action to declare rights.

2005, c. 935 , § 55-542.01; 2012, c. 614 .
Va. Code Ann. § 64.2-792 — Virginia Code / Title 64.2 / Subtitle III / Chapter 7 / Article 10 / Section 64.2-792
Remedies for breach of trust
Status: in_force

A. A violation by a trustee of a duty the trustee owes to a beneficiary is a breach of trust.

B. To remedy a breach of trust that has occurred or may occur, the court may:

1. Compel the trustee to perform the trustee's duties;

2. Enjoin the trustee from committing a breach of trust;

3. Compel the trustee to redress a breach of trust by paying money, restoring property, or other means;

4. Order a trustee to account;

5. Appoint a special fiduciary to take possession of the trust property and administer the trust;

6. Suspend the trustee;

7. Remove the trustee as provided in § 64.2-759 ;

8. Reduce or deny compensation to the trustee;

9. Subject to § 64.2-803 , void an act of the trustee, impose a lien or a constructive trust on trust property, or trace trust property wrongfully disposed of and recover the property or its proceeds; or

10. Order any other appropriate relief.

2005, c. 935 , § 55-550.01; 2012, c. 614 .
Va. Code Ann. § 64.2-1623 — Virginia Code / Title 64.2 / Subtitle IV / Part B / Chapter 16 / Article 2 / Section 64.2-1623
Incorporation of authority
Status: in_force

A. An agent has authority described in this article if the power of attorney refers to general authority with respect to the descriptive term for the subjects stated in §§ 64.2-1625 through 64.2-1638 , or cites the section in which the authority is described.

B. A reference in a power of attorney to general authority with respect to the descriptive term for a subject in §§ 64.2-1625 through 64.2-1638 or a citation to a section of §§ 64.2-1625 through 64.2-1638 incorporates the entire section as if it were set out in full in the power of attorney.

C. A principal may modify authority incorporated by reference.

2010, cc. 455 , 632 , § 26-96; 2012, c. 614 .
Va. Code Ann. § 64.2-411 — Virginia Code / Title 64.2 / Subtitle II / Chapter 4 / Article 2 / Section 64.2-411
Revival of wills after revocation
Status: in_force

Any will or codicil, or any part thereof that has been revoked pursuant to § 64.2-410 shall not be revived unless such will or codicil is reexecuted in the manner required by law. Such revival operates only to the extent that the testator's intent to revive the will or codicil is shown.

Code 1950, § 64-60; 1968, c. 656, § 64.1-60; 1985, c. 431; 2012, c. 614 .
Va. Code Ann. § 64.2-200 — Virginia Code / Title 64.2 / Subtitle II / Chapter 2 / Section 64.2-200
Course of descents generally; right of Commonwealth if no other heir
Status: in_force

A. The real estate of any decedent not effectively disposed of by will descends and passes by intestate succession in the following course:

1. To the surviving spouse of the decedent, unless the decedent is survived by children or their descendants, one or more of whom are not children or their descendants of the surviving spouse, in which case, two-thirds of the estate descends and passes to the decedent's children and their descendants, and one-third of the estate descends and passes to the surviving spouse.

2. If there is no surviving spouse, then the estate descends and passes to the decedent's children and their descendants.

3. If there is none of the foregoing, then to the decedent's parents, or to the surviving parent.

4. If there is none of the foregoing, then to the decedent's siblings, and their descendants.

5. If there is none of the foregoing, then one-half of the estate descends and passes to the kindred of one of the decedent's parents and one-half descends and passes to the kindred of the other of the decedent's parents in the following course:

a. To the decedent's grandparents, or to the surviving grandparent.

b. If there is none of the foregoing, then to the decedent's uncles and aunts, and their descendants.

c. If there is none of the foregoing, then to the decedent's great-grandparents.

d. If there is none of the foregoing, then to the siblings of the decedent's grandparents, and their descendants.

e. And so on, in other cases, without end, passing to the nearest lineal ancestors, and the descendants of such ancestors.

B. If there are no surviving kindred of one of the decedent's parents, the whole estate descends and passes to the surviving kindred of the other of the decedent's parents. If there are no kindred of either parent, the whole estate descends and passes to the kindred of the decedent's most recent spouse, if any, provided that the decedent and the spouse were married at the time of the spouse's death, as if such spouse had died intestate and entitled to the estate.

C. If there is no other heir of a decedent's real estate, such real estate is subject to escheat to the Commonwealth in accordance with Chapter 24 (§ 55.1-2400 et seq.) of Title 55.1.

Code 1950, § 64-1; 1956, c. 109; 1968, c. 656, § 64.1-1; 1977, c. 474; 1982, c. 304; 1985, c. 189; 1990, c. 831; 2012, c. 614 ; 2020, c. 900 .
Va. Code Ann. § 64.2-779.37 — Virginia Code / Title 64.2 / Subtitle III / Chapter 7 / Article 8.2 / Section 64.2-779.37
Jurisdiction over trust director
Status: in_force

A. By accepting appointment as a trust director of a trust subject to this article, the trust director submits to personal jurisdiction of the courts of the Commonwealth regarding any matter related to a power or duty of the trust director.

B. This section does not preclude other methods of obtaining jurisdiction over a trust director.

2020, c. 768 .
Va. Code Ann. § 64.2-739 — Virginia Code / Title 64.2 / Subtitle III / Chapter 7 / Article 4 / Section 64.2-739
Application of §§ 64.2-737 and 64.2-738
Status: in_force

Sections 64.2-737 and 64.2-738 shall apply to any private foundation, charitable trust, or split-interest trust defined or described therein and established after December 31, 1969; and to any such private foundation, charitable trust, or split-interest trust established before January 1, 1970, only for its taxable years beginning on and after January 1, 1972, unless the exceptions provided in § 508(e)(2)(A) or (B) of the Internal Revenue Code shall apply or unless the trustee or trustees shall elect that this section shall not apply by filing written notice of such election with the Attorney General, and with the clerk of the court in which its governing instrument may be recorded, on or before December 31, 1971.

2005, c. 935 , § 55-544.21; 2012, c. 614 .
Va. Code Ann. § 64.2-709 — Virginia Code / Title 64.2 / Subtitle III / Chapter 7 / Article 1 / Section 64.2-709
Nonjudicial settlement agreements
Status: in_force

A. For purposes of this section, "interested persons" means persons whose consent would be required in order to achieve a binding settlement were the settlement to be approved by the court.

B. Except as otherwise provided in subsection C, interested persons may enter into a binding nonjudicial settlement agreement with respect to any matter involving a trust.

C. A nonjudicial settlement agreement is valid only to the extent it does not violate a material purpose of the trust and includes terms and conditions that could be properly approved by the court under this chapter or other applicable law.

D. Matters that may be resolved by a nonjudicial settlement agreement include:

1. The interpretation or construction of the terms of the trust;

2. The approval of a trustee's report or accounting;

3. Direction to a trustee to refrain from performing a particular act or the grant to a trustee of any necessary or desirable power;

4. The resignation or appointment of a trustee and the determination of a trustee's compensation;

5. Transfer of a trust's principal place of administration; and

6. Liability of a trustee for an action relating to the trust.

E. Any interested person may petition the court to approve a nonjudicial settlement agreement, to determine whether the representation as provided in Article 3 (§ 64.2-714 et seq.) was adequate, and to determine whether the agreement contains terms and conditions the court could have properly approved.

2005, c. 935 , § 55-541.11; 2012, c. 614 .
Va. Code Ann. § 64.2-521 — Virginia Code / Title 64.2 / Subtitle II / Chapter 5 / Article 4 / Section 64.2-521
Personal representatives to sell real estate devised to be sold, and to receive certain rents
Status: in_force

A. If the will devises real estate to be sold and no person other than the executor is appointed to sell such real estate, the executor has the power to sell and convey such real estate and to receive the proceeds of sale or the rents and profits of any real estate that the executors are authorized by the will to receive.

B. Unless a contrary intent is clearly set out in the will, if no executor qualifies, or those qualifying die, resign, or are removed, an administrator with the will annexed has the power to sell or convey the real estate devised by the will to be sold and to receive the proceeds of sale or the rents and profits of any real estate.

Code 1950, §§ 64-136, 64-137; 1968, c. 656, §§ 64.1-146, 64.1-147; 2012, c. 614 .
Va. Code Ann. § 64.2-779.6 — Virginia Code / Title 64.2 / Subtitle III / Chapter 7 / Article 8.1 / Section 64.2-779.6
Court involvement
Status: in_force

A. On application of an authorized fiduciary, a person entitled to notice under subsection C of § 64.2-779.5 , a beneficiary, or with respect to a charitable interest the Attorney General or other person that has standing to enforce the charitable interest, the court may (i) provide instructions to the authorized fiduciary regarding whether a proposed exercise of the decanting power is permitted under this article and consistent with the fiduciary duties of the authorized fiduciary; (ii) appoint a special fiduciary and authorize the special fiduciary to determine whether the decanting power should be exercised under this article and to exercise the decanting power; (iii) approve an exercise of the decanting power; (iv) determine that a proposed or attempted exercise of the decanting power is ineffective because (a) after applying § 64.2-779.19 , the proposed or attempted exercise does not or did not comply with this article or (b) the proposed or attempted exercise would be or was an abuse of the fiduciary's discretion or a breach of fiduciary duty; (v) determine the extent to which § 64.2-779.19 applies to a prior exercise of the decanting power; (vi) provide instructions to the trustee regarding the application of § 64.2-779.19 to a prior exercise of the decanting power; or (vii) order other relief to carry out the purposes of this article.

B. On application of an authorized fiduciary, the court may approve (i) an increase in the fiduciary's compensation under § 64.2-779.13 or (ii) a modification under § 64.2-779.15 of a provision granting a person the right to remove or replace the fiduciary.

2017, c. 592 .
Va. Code Ann. § 64.2-505 — Virginia Code / Title 64.2 / Subtitle II / Chapter 5 / Article 1 / Section 64.2-505
When security not required
Status: in_force

A. The court or clerk shall require a personal representative to furnish security. However, the court or clerk shall not require a personal representative to furnish security if:

1. All distributees of a decedent's estate or all beneficiaries under the decedent's will are personal representatives of that decedent's estate, whether serving alone or with others who are not distributees or beneficiaries; however, if all personal representatives of a testate decedent are entitled to file a statement in lieu of an accounting under § 64.2-1314 , the security shall be required only upon the portion of their bond given in connection with the property passing to beneficiaries who are not personal representatives; or

2. The will waives security of an executor nominated therein.

B. Notwithstanding subsection A, upon the motion of a legatee, devisee, or distributee of an estate, or any person who has a pecuniary interest in an estate, the court or clerk may require the personal representative to furnish security. A copy of such motion shall be served upon the personal representative. The court shall conduct a hearing on the motion and may require the personal representative to furnish security in an amount it deems sufficient and may award the movant reasonable attorney fees and costs which shall be paid out of the estate.

C. This section shall be deemed to permit qualification without security where the personal representative is the only distributee or only beneficiary by virtue of one or more instruments of disclaimer filed prior to, or at the time of, such personal representative's qualification.

Code 1950, § 64-117; 1966, c. 325; 1968, c. 656, § 64.1-121; 1970, c. 426; 1974, c. 140; 1977, c. 144; 1994, c. 393 ; 1996, c. 57 ; 2012, c. 614 ; 2014, c. 291 ; 2015, c. 631 .
Va. Code Ann. § 64.2-120 — Virginia Code / Title 64.2 / Subtitle I / Chapter 1 / Article 3.1 / Section 64.2-120
Procedure for disclosing digital assets
Status: in_force

A. When disclosing digital assets of a user under this article, the custodian may, at its sole discretion:

1. Grant a fiduciary or designated recipient full access to the user's account;

2. Grant a fiduciary or designated recipient partial access to the user's account sufficient to perform the tasks with which the fiduciary or designated recipient is charged; or

3. Provide a fiduciary or designated recipient a copy in a record of any digital asset that, on the date the custodian received the request for disclosure, the user could have accessed if the user were alive and had full capacity and access to the account.

B. A custodian may assess a reasonable administrative charge for the cost of disclosing digital assets under this article.

C. A custodian need not disclose under this article a digital asset deleted by a user.

D. If a user directs or a fiduciary requests a custodian to disclose under this article some, but not all, of the user's digital assets, the custodian need not disclose the assets if segregation of the assets would impose an undue burden on the custodian. If the custodian believes the direction or request imposes an undue burden, the custodian or fiduciary may seek an order from the court to disclose:

1. A subset limited by date of the user's digital assets;

2. All of the user's digital assets to the fiduciary or designated recipient;

3. None of the user's digital assets; or

4. All of the user's digital assets to the court for review in camera.

2017, cc. 33 , 80 .
Va. Code Ann. § 64.2-2303 — Virginia Code / Title 64.2 / Subtitle V / Chapter 23 / Section 64.2-2303
Persons presumed dead; authority of clerk
Status: in_force

A clerk of the circuit court has no authority to (i) admit to probate a will of a person presumed to be dead, (ii) grant administration upon the estate of a person presumed to be dead, or (iii) appoint a curator pursuant to § 64.2-2302 .

Code 1950, § 64-103; 1968, c. 656, § 64.1-107; 1996, cc. 675 , 684 ; 2006, c. 351 ; 2012, c. 614 .
Va. Code Ann. § 64.2-519 — Virginia Code / Title 64.2 / Subtitle II / Chapter 5 / Article 3 / Section 64.2-519
Suits upon judgment and contracts of decedent and actions for personal injury or wrongful death
Status: in_force

A personal representative may sue or be sued (i) upon any judgment for or against the decedent, (ii) upon any contract of or with the decedent, or (iii) in any action for personal injury or wrongful death against or on behalf of the estate.

Code 1950, § 64-134; 1968, c. 656, § 64.1-144; 2001, c. 223 ; 2012, c. 614 .
Va. Code Ann. § 64.2-796 — Virginia Code / Title 64.2 / Subtitle III / Chapter 7 / Article 10 / Section 64.2-796
Limitation of action against trustee
Status: in_force

A. A beneficiary may not commence a proceeding against a trustee for breach of trust more than one year after the date the beneficiary or a representative of the beneficiary was sent a report that adequately disclosed the existence of a potential claim for breach of trust and informed the beneficiary of the time allowed for commencing a proceeding.

B. A report adequately discloses the existence of a potential claim for breach of trust if it provides sufficient information so that the beneficiary or representative knows of the potential claim or should have inquired into its existence.

C. If subsection A does not apply, a judicial proceeding by a beneficiary against a trustee for breach of trust shall be commenced within five years after the first to occur of:

1. The removal, resignation, or death of the trustee;

2. The termination of the beneficiary's interest in the trust; or

3. The termination of the trust.

D. Whenever fraud has been perpetrated in connection with any proceeding or in any statement filed under this chapter, or if fraud is used to avoid or circumvent the provisions or purposes of this chapter, any person injured thereby may obtain appropriate relief against the perpetrator of the fraud or restitution from any person benefiting from the fraud, whether innocent or not, except for a bona fide purchaser. Any proceeding shall be commenced within two years after the fraud is discovered, but no proceeding may be brought against one not a perpetrator of the fraud later than five years after the time the fraud is committed. This section does not apply to remedies for fraud practiced on a decedent during his lifetime that affects the succession of his estate.

E. The provisions of this section shall not operate to reduce the period of limitations applicable to actions and suits governed by § 8.01-245 .

2005, c. 935 , § 55-550.05; 2012, c. 614 .
Va. Code Ann. § 64.2-525 — Virginia Code / Title 64.2 / Subtitle II / Chapter 5 / Article 5 / Section 64.2-525
Debtor's appointment as executor
Status: in_force

The appointment of a debtor of the estate as executor shall not extinguish his debt to the estate.

Code 1950, § 64-142; 1968, c. 656, § 64.1-152; 2012, c. 614 .
Va. Code Ann. § 64.2-506 — Virginia Code / Title 64.2 / Subtitle II / Chapter 5 / Article 1 / Section 64.2-506
When letters of administration and order for obtaining probate in due form are required
Status: in_force

The court or clerk may issue a certificate of qualification to any personal representative for obtaining probate or letters of administration, which shall be given the same effect as the probate or letters made out in due form. The clerk when required by any personal representative, shall make out such probate or letters in due form that shall be signed by the clerk, sealed with the seal of the court, and certified by the judge to be attested in due form.

Code 1950, § 64-118; 1968, c. 656, § 64.1-122; 2012, c. 614 .
Va. Code Ann. § 64.2-1412 — Virginia Code / Title 64.2 / Subtitle IV / Part A / Chapter 14 / Article 1 / Section 64.2-1412
How trustee required to give bond; when to be removed and another appointed
Status: in_force

After reasonable notice to a trustee, whether appointed by will, deed, or other writing, the circuit court that has jurisdiction to administer the trust may, on motion of any interested person, order the trustee to give bond with surety before the court, or before the clerk of the court, within a reasonable time and in a penalty to be prescribed by the court, for the faithful execution of the trust if the court deems the bond is proper for the security of the trust estate. If the order is not complied with, or whenever for any cause it appears proper, the court may remove the trustee and appoint another in his place.

Code 1919, § 6301; Code 1950, § 26-1; 2012, c. 614 .
Va. Code Ann. § 64.2-801 — Virginia Code / Title 64.2 / Subtitle III / Chapter 7 / Article 10 / Section 64.2-801
Limitation on personal liability of trustee
Status: in_force

A. Except as otherwise provided in the contract, a trustee is not personally liable on a contract properly entered into in the trustee's fiduciary capacity in the course of administering the trust if the trustee in the contract disclosed the fiduciary capacity.

B. A trustee is personally liable for torts committed in the course of administering a trust, or for obligations arising from ownership or control of trust property, including liability for violation of environmental law, only if the trustee is personally at fault.

C. A claim based on a contract entered into by a trustee in the trustee's fiduciary capacity, on an obligation arising from ownership or control of trust property, or on a tort committed in the course of administering a trust, may be asserted in a judicial proceeding against the trustee in the trustee's fiduciary capacity, whether or not the trustee is personally liable for the claim.

2005, c. 935 , § 55-550.10; 2012, c. 614 .
Va. Code Ann. § 64.2-1106 — Virginia Code / Title 64.2 / Subtitle III / Chapter 11 / Section 64.2-1106
Application to existing institutional funds
Status: in_force

This chapter applies to institutional funds existing on or established after July 1, 2008. As it applies to institutional funds existing on July 1, 2008, this article governs only decisions made or actions taken on or after that date.

2008, c. 184 , § 55-268.18; 2012, c. 614 .
Va. Code Ann. § 64.2-546 — Virginia Code / Title 64.2 / Subtitle II / Chapter 5 / Article 8 / Section 64.2-546
Action against representative of executor for waste
Status: in_force

An action may be maintained for waste of a decedent's estate against (i) the personal representative of a person who, without any lawful authority, assumes to act as an executor or (ii) the personal representative of a rightful executor or administrator.

Code 1950, § 64-157; 1968, c. 656, § 64.1-167; 2012, c. 614 .
Va. Code Ann. § 64.2-1628 — Virginia Code / Title 64.2 / Subtitle IV / Part B / Chapter 16 / Article 2 / Section 64.2-1628
Commodities and options
Status: in_force

Unless the power of attorney otherwise provides, language in a power of attorney granting general authority with respect to commodities and options authorizes the agent to:

1. Buy, sell, exchange, assign, settle, and exercise commodity futures contracts and call or put options on stocks or stock indexes traded on a regulated option exchange; and

2. Establish, continue, modify, and terminate option accounts.

2010, cc. 455 , 632 , § 26-101; 2012, c. 614 .
Va. Code Ann. § 64.2-1310 — Virginia Code / Title 64.2 / Subtitle IV / Part A / Chapter 13 / Section 64.2-1310
Recordation of inventories and accounts of sales
Status: in_force

Every inventory and account of sales returned under §§ 64.2-1300 and 64.2-1309 shall be recorded by the clerk in the will book and indexed as required by § 17.1-223 .

Code 1919, § 5405; Code 1950, § 26-16; 2012, c. 614 .
Va. Code Ann. § 64.2-312 — Virginia Code / Title 64.2 / Subtitle II / Chapter 3 / Article 2 / Section 64.2-312
Source, determination, and documentation of family allowance, exempt property, and homestead allowance; petition for relief
Status: in_force

A. Property specifically bequeathed or devised shall not be used to satisfy the right to exempt property and the homestead allowance if there are sufficient assets in the estate otherwise to satisfy such rights. Subject to this restriction, the surviving spouse or the guardian of the minor children may select property of the estate as exempt property and the homestead allowance. The personal representative may make these selections if the surviving spouse or the guardian of the minor children is unable or fails to do so within a reasonable time, or if there is no guardian of the minor children. The personal representative may execute a deed of distribution to establish the ownership of property taken as the homestead allowance or exempt property, which deed, if executed, shall (i) describe the property with reasonable certainty and (ii) state the value of each asset included therein. The personal representative may determine the family allowance in a lump sum or periodic installments in accordance with § 64.2-309 . The personal representative may disburse funds of the estate in payment of the family allowance and in payment of any part of the exempt property or the homestead allowance that is payable in cash.

B. The personal representative or any interested person aggrieved by any selection, determination, payment, proposed payment, or failure to act under this section may petition the circuit court for appropriate relief, including the award of a family allowance that is larger or smaller than what the personal representative determined or could have determined. Such petition may be ex parte; provided, however, that the court in its discretion may require such notice to and the convening of interested parties as it may deem proper in each case.

1981, c. 580, § 64.1-151.4; 1996, c. 549 ; 2001, c. 368 ; 2012, c. 614 .
Va. Code Ann. § 64.2-2009.1 — Virginia Code / Title 64.2 / Subtitle IV / Part D / Chapter 20 / Article 1 / Section 64.2-2009.1
Periodic review hearings
Status: in_force

A hearing held pursuant to the schedule set forth in subsection A1 of § 64.2-2009 shall include the following assessments by the court: (i) whether the guardian or conservator is fulfilling his duties; (ii) whether continuation of the guardianship or conservatorship is necessary and, if so, whether the scope of such guardianship or conservatorship warrants modification; and (iii) whether the respondent's incapacity status pursuant to § 64.2-2009.2 has changed.

2023, c. 595 ; 2026, cc. 442 , 443 .
Va. Code Ann. § 64.2-637 — Virginia Code / Title 64.2 / Subtitle II / Chapter 6 / Article 5 / Section 64.2-637
Uniformity of application and construction
Status: in_force

In applying and construing this uniform act, consideration shall be given to the need to promote uniformity of the law with respect to its subject matter among the states that enact it.

2013, c. 390 .
Va. Code Ann. § 64.2-2119 — Virginia Code / Title 64.2 / Subtitle IV / Part D / Chapter 21 / Article 5 / Section 64.2-2119
Uniformity of application and construction
Status: in_force

In applying and construing this uniform act, consideration shall be given to the need to promote uniformity of the law with respect to its subject matter among states that enact it.

2011, c. 518 , § 37.2-1051; 2012, c. 614 .
Va. Code Ann. § 64.2-1901 — Virginia Code / Title 64.2 / Subtitle IV / Part C / Chapter 19 / Section 64.2-1901
Scope and jurisdiction
Status: in_force

A. This chapter applies to any transfer that refers to the Uniform Transfers to Minors Act or this chapter in the designation under subsection A of § 64.2-1908 by which the transfer is made if, at the time of the transfer, the transferor, the minor, or the custodian is a resident of the Commonwealth or the custodial property is located in the Commonwealth. The custodianship so created remains subject to this chapter despite a subsequent change in residence of a transferor, the minor, or the custodian or the removal of custodial property from the Commonwealth.

B. A person designated as custodian under this chapter is subject to personal jurisdiction in the Commonwealth with respect to any matter relating to the custodianship.

C. A transfer that purports to be made and that is valid under the Uniform Transfers to Minors Act, the Uniform Gifts to Minors Act, or a substantially similar act of another state is governed by the law of the designated state and may be executed and is enforceable in the Commonwealth if, at the time of the transfer, the transferor, the minor, or the custodian is a resident of the designated state or the custodial property is located in the designated state.

1988, c. 516, § 31-38; 2012, c. 614 .
Va. Code Ann. § 64.2-2600 — Virginia Code / Title 64.2 / Subtitle V / Chapter 26 / Section 64.2-2600
Definitions
Status: in_force

As used in this chapter:

"Disclaimant" means the person to whom a disclaimed interest or power would have passed had the disclaimer not been made.

"Disclaimed interest" means the interest that would have passed to the disclaimant had the disclaimer not been made.

"Disclaimer" means the refusal to accept an interest in or power over property.

"Fiduciary" means a personal representative, trustee, agent acting under a power of attorney, or other person authorized to act as a fiduciary with respect to the property of another person.

"Jointly held property" means property held in the name of two or more persons under an arrangement in which all holders have concurrent interests and under which the last surviving holder is entitled to the whole of the property and includes, without limitation, property held as tenants by the entirety.

"Person" means an individual, corporation, business trust, estate, trust, partnership, limited liability company, association, joint venture, government, governmental subdivision, agency or instrumentality, public corporation, or any other legal or commercial entity.

"State" means a state of the United States, the District of Columbia, Puerto Rico, the United States Virgin Islands, or any territory or insular possession subject to the jurisdiction of the United States. The term includes an Indian tribe or band, or Alaskan native village, recognized by federal law or formally acknowledged by a state.

"Trust" means (i) an express trust, charitable or noncharitable, with additions thereto, whenever and however created; and (ii) a trust created pursuant to a statute, judgment, or decree, that requires the trust to be administered in the manner of an express trust.

2003, c. 253 , § 64.1-196.1; 2012, c. 614 .
Va. Code Ann. § 64.2-2302 — Virginia Code / Title 64.2 / Subtitle V / Chapter 23 / Section 64.2-2302
Appointment of curator when presumption of death not applicable
Status: in_force

A circuit court, upon good cause shown, may appoint in accordance with the provisions of § 64.2-451 a curator for the estate of a resident of the Commonwealth in a case where the legal presumption of death is not applicable if (i) at least one year has expired since the date that the resident was last heard from and (ii) it is not known and cannot with reasonable diligence be shown whether such person is alive. In determining whether good cause exists, the court shall consider the existence and efficacy of any durable power of attorney.

2006, c. 351 , § 64.1-106.1; 2012, c. 614 .
Va. Code Ann. § 64.2-1915 — Virginia Code / Title 64.2 / Subtitle IV / Part C / Chapter 19 / Section 64.2-1915
Exemption of third person from liability
Status: in_force

A third person may act in good faith and without court order on the instruction of or otherwise deal with any person purporting to make a transfer or purporting to act in the capacity of a custodian and, in the absence of knowledge, is not responsible for determining (i) the validity of the purported custodian's designation, (ii) the propriety of, or the authority under this chapter for, any act of the purported custodian, (iii) the validity or propriety under this chapter of any instrument or instructions executed or given either by the person purporting to make a transfer or by the purported custodian, or (iv) the propriety of the application of any property of the minor delivered to the purported custodian.

1988, c. 516, § 31-52; 2012, c. 614 .
Va. Code Ann. § 64.2-1012 — Virginia Code / Title 64.2 / Subtitle III / Chapter 10 / Subpart 2 / Article 4 / Section 64.2-1012
Repealed
Status: repealed

Repealed by Acts 2022, c. 354 , cl. 2.
Va. Code Ann. § 64.2-760 — Virginia Code / Title 64.2 / Subtitle III / Chapter 7 / Article 7 / Section 64.2-760
Delivery of property by former trustee
Status: in_force

A. Unless a cotrustee remains in office or the court otherwise orders, and until the trust property is delivered to a successor trustee or other person entitled to it, a trustee who has resigned or been removed has the duties of a trustee and the powers necessary to protect the trust property.

B. A trustee who has resigned or been removed shall proceed expeditiously to deliver the trust property within the trustee's possession to the cotrustee, successor trustee, or other person entitled to it.

C. Title to all trust property shall be owned and vested in any successor trustee, upon acceptance of the trusteeship, without any conveyance, transfer, or assignment by the prior trustee.

2005, c. 935 , § 55-547.07; 2012, c. 614 .
Va. Code Ann. § 64.2-779.20 — Virginia Code / Title 64.2 / Subtitle III / Chapter 7 / Article 8.1 / Section 64.2-779.20
Trust for care of animal
Status: in_force

A. As used in this section:

"Animal trust" means a trust or an interest in a trust created to provide for the care of one or more animals.

"Protector" means a person appointed in an animal trust to enforce the trust on behalf of the animal or, if no such person is appointed in the trust, a person appointed by the court for that purpose.

B. The decanting power may be exercised over an animal trust that has a protector to the extent that the trust could be decanted under this article if each animal that benefits from the trust were an individual, if the protector consents in a signed record to the exercise of the power.

C. A protector for an animal has the rights under this article of a qualified beneficiary.

D. Notwithstanding any other provision of this article, if a first trust is an animal trust, in an exercise of the decanting power, the second trust must provide that trust property may be applied only to its intended purpose for the period the first trust benefited the animal.

2017, c. 592 .
Va. Code Ann. § 64.2-2206 — Virginia Code / Title 64.2 / Subtitle V / Chapter 22 / Section 64.2-2206
Protection of payors, bona fide purchasers, and other third parties; personal liability of recipient
Status: in_force

A. A payor or other third party is not liable for having made a payment or transferred an item of property or any other benefit to a beneficiary designated in a governing instrument who, under this chapter, is not entitled to the payment or item of property, or for having taken any other action in good faith reliance on the beneficiary's apparent entitlement under the terms of the governing instrument, before the payor or other third party received written notice of a claimed lack of entitlement under this chapter. A payor or other third party is liable for a payment made or other action taken after the payor or other third party received written notice of a claimed lack of entitlement under this chapter.

Written notice of a claimed lack of entitlement shall be mailed to the main office or home of the payor or other third party, or to the registered agent of either, by registered or certified mail, return receipt requested, or served upon the payor or other third party in the same manner as process in a civil action. Upon receipt of the written notice of a claimed lack of entitlement, a payor or other third party may pay any amount owed or transfer or deposit any item of property held by it to or with the court having jurisdiction of the probate proceedings relating to the decedent's estate, or if no proceedings have been commenced, to or with the court having jurisdiction of probate proceedings relating to decedents' estates as provided in § 64.2-443 or 64.2-502 . The court shall hold the funds or item of property and, upon its determination under this chapter, shall order disbursement in accordance with the determination. Payments, transfers, or deposits made to or with the court discharge the payor or other third party from all claims for the value of amounts paid to or items of property transferred to or deposited with the court.

B. A person who purchases property for value and without notice, or who receives a payment or other item of property in partial or full satisfaction of a legally enforceable obligation, is neither obligated under this chapter to return the payment, item of property, or benefit, nor liable under this chapter for the amount of the payment or the value of the item of property or benefit. But a person who, not for value, receives a payment, item of property, or any other benefit to which the person is not entitled under this chapter, is obligated to return the payment, item of property, or benefit, or is personally liable for the amount of the payment or the value of the item of property or benefit, to the person who is entitled to it under this chapter.

If this chapter or any part of this chapter is preempted by federal law with respect to a payment, an item of property, or any other benefit covered by this chapter, a person who, not for value, receives the payment, item of property, or any other benefit to which the person is not entitled is obligated to return the payment, item of property, or benefit, or is personally liable for the amount of the payment or the value of the item of property or benefit, to the person who would have been entitled to it were this chapter or part of this chapter not preempted.

1994, c. 475 , § 64.1-104.7; 2012, c. 614 .
Va. Code Ann. § 64.2-779.21 — Virginia Code / Title 64.2 / Subtitle III / Chapter 7 / Article 8.1 / Section 64.2-779.21
Terms of second trust
Status: in_force

A reference in this chapter to a trust instrument or terms of the trust includes a second-trust instrument and the terms of the second trust.

2017, c. 592 .
Va. Code Ann. § 64.2-1209 — Virginia Code / Title 64.2 / Subtitle IV / Part A / Chapter 12 / Section 64.2-1209
Who may insist or object before commissioner of accounts
Status: in_force

Any interested person, or the next friend of an interested person, may, before the commissioner of accounts, insist upon or object to anything which could be insisted upon or objected to by such interested person if the commissioner of accounts were acting under an order of a circuit court for the settlement of a fiduciary's accounts made in a suit to which such interested person was a party.

Code 1919, § 5424; Code 1950, § 26-29; 2005, c. 681 ; 2012, c. 614 .
Va. Code Ann. § 64.2-1706 — Virginia Code / Title 64.2 / Subtitle IV / Part C / Chapter 17 / Section 64.2-1706
When court may appoint temporary guardians; bond; powers and duties
Status: in_force

Until a guardian appointed by the circuit court or clerk has given his bond, or while there is no guardian, the court or clerk may appoint a temporary guardian, who shall give his bond pursuant to § 64.2-1704 . Any temporary guardian during the period of his guardianship shall have all the powers and responsibilities of and shall perform all the duties of a guardian.

Code 1919, § 5319; Code 1950, § 31-7; 1999, c. 16 ; 2012, c. 614 .
Va. Code Ann. § 64.2-704 — Virginia Code / Title 64.2 / Subtitle III / Chapter 7 / Article 1 / Section 64.2-704
Common law of trusts; principles of equity
Status: in_force

The common law of trusts and principles of equity supplement this chapter, except to the extent modified by this chapter or another statute of the Commonwealth.

2005, c. 935 , § 55-541.06; 2012, c. 614 .
Va. Code Ann. § 64.2-2700 — Virginia Code / Title 64.2 / Subtitle V / Chapter 27 / Article 1 / Section 64.2-2700
Definitions
Status: in_force

As used in this chapter, unless the context requires a different meaning:

"Appointee" means a person to which a powerholder makes an appointment of appointive property.

"Appointive property" means the property or property interest subject to a power of appointment.

"Blanket-exercise clause" means a clause in an instrument which exercises a power of appointment and is not a specific-exercise clause. "Blanket-exercise clause" includes a clause that:

1. Expressly uses the words "any power" in exercising any power of appointment the powerholder has;

2. Expressly uses the words "any property" in appointing any property over which the powerholder has a power of appointment; or

3. Disposes of all property subject to disposition by the powerholder.

"Donor" means a person that creates a power of appointment.

"Exclusionary power of appointment" means a power of appointment exercisable in favor of any one or more of the permissible appointees to the exclusion of the other permissible appointees.

"General power of appointment" means a power of appointment exercisable in favor of the powerholder, the powerholder's estate, a creditor of the powerholder, or a creditor of the powerholder's estate.

"Gift-in-default clause" means a clause in the instrument creating the power identifying a taker in default of appointment.

"Impermissible appointee" means a person that is not a permissible appointee.

"Instrument" means a record.

"Nongeneral power of appointment" means a power of appointment that is not a general power of appointment.

"Permissible appointee" means a person in whose favor a powerholder may exercise a power of appointment.

"Person" means an individual; estate; trust; business or nonprofit entity; public corporation; government or governmental subdivision, agency, or instrumentality; or other legal entity.

"Powerholder" means a person in which a donor creates a power of appointment.

"Power of appointment" means a power that enables a powerholder acting in a nonfiduciary capacity to designate a recipient of an ownership interest in or another power of appointment over the appointive property. "Power of appointment" does not include a power of attorney.

"Presently exercisable power of appointment" means a power of appointment exercisable by the powerholder at the relevant time. "Presently exercisable power of appointment":

1. Includes a power of appointment not exercisable until the occurrence of a specified event, the satisfaction of an ascertainable standard, or the passage of a specified time only after:

a. The occurrence of the specified event;

b. The satisfaction of the ascertainable standard; or

c. The passage of the specified time; and

2. Does not include a power exercisable only at the powerholder's death.

"Record" means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form.

"Specific-exercise clause" means a clause in an instrument which specifically refers to and exercises a particular power of appointment.

"Taker in default of appointment" means a person that takes all or part of the appointive property to the extent that the powerholder does not effectively exercise the power of appointment.

"Terms of the instrument" means the manifestation of the intent of the maker of the instrument regarding the instrument's provisions as expressed in the instrument or as may be established by other evidence that would be admissible in a legal proceeding.

1944, p. 67; Michie Suppl. 1946, § 5440(1); Code 1950, § 55-278; 2012, c. 614 ; 2016, c. 266 .
Va. Code Ann. § 64.2-515 — Virginia Code / Title 64.2 / Subtitle II / Chapter 5 / Article 3 / Section 64.2-515
Duty of fiduciaries as to joint accounts
Status: in_force

A. Except as provided in subsection B, a fiduciary charged with the administration of the estate of a decedent is not required to assert a claim on behalf of the decedent's estate to any funds on deposit in any financial institution in a joint account held, at the time of the decedent's death, in the name of the decedent and one or more other persons when the terms of the contract of deposit, or the laws of the state in which such funds are deposited, permit such financial institution to pay the funds to (i) any of such persons in whose name the account is held, whether the other, or others, are living or not, or (ii) a named survivor or survivors.

B. The fiduciary shall assert a claim to such funds if he receives a request in writing from any person interested in the estate within six months from the date of the initial qualification of the estate. The fiduciary, or his attorney, shall acknowledge in writing receipt of such request within 10 days, and if the fiduciary is the surviving cotenant of such funds, the fiduciary shall segregate such funds and place such funds in an interest-bearing account, awaiting an appropriate court order concerning the ultimate disposition of such funds. The fiduciary shall not use such funds for his own personal account. However, if the fiduciary accedes to the request that such funds be treated as estate funds, the fiduciary may distribute the funds according to law without any court order.

Code 1950, § 64-131.1; 1966, c. 600; 1968, c. 656, § 64.1-140; 1970, c. 425; 2012, c. 614 .
Va. Code Ann. § 64.2-308.7 — Virginia Code / Title 64.2 / Subtitle II / Chapter 3 / Article 1.1 / Section 64.2-308.7
Decedent's non-probate transfers to the surviving spouse
Status: in_force

Excluding property passing to the surviving spouse under the federal social security system, the value of the augmented estate includes the value of the decedent's non-probate transfers to the decedent's surviving spouse, which consist of all property that passed outside probate at the decedent's death from the decedent to the surviving spouse by reason of the decedent's death, including:

1. The decedent's fractional interest in property held as a joint tenant with the right of survivorship, to the extent that the decedent's fractional interest passed to the surviving spouse as surviving joint tenant;

2. The decedent's ownership interest in property or accounts held in co-ownership registration with the right of survivorship, or with Payable on Death or Transfer on Death designations to the extent the decedent's ownership interest passed to the surviving spouse as surviving co-owner; and

3. All other property that would have been included in the augmented estate under subdivision 1 or 2 of § 64.2-308.6 had it passed to or for the benefit of a person other than the decedent's spouse, surviving spouse, the decedent, or the decedent's creditors, estate, or estate creditors.

2016, cc. 187 , 269 .
Va. Code Ann. § 64.2-554 — Virginia Code / Title 64.2 / Subtitle II / Chapter 5 / Article 9 / Section 64.2-554
When distribution may be required; refunding bond
Status: in_force

A personal representative shall not be compelled to pay any legacy made in the will or to distribute the estate of the decedent for six months from the date of the order conferring authority on the first executor or administrator of such decedent and, except when it is otherwise specifically provided for in the will, the personal representative shall not be compelled to make such payment or distribution until the legatee or distributee gives a bond, executed by himself or some other person, with sufficient surety, to refund a due proportion of any debts or demands subsequently proved against the decedent or the decedent's estate and of the costs of the recovery of such debts or demands. Such bond shall be filed and recorded in the clerk's office of the court that may have decreed such payment or distribution or in which the accounts of such representative may be recorded.

Code 1950, § 64-167; 1968, c. 656, § 64.1-177; 2012, c. 614 .
Va. Code Ann. § 64.2-322 — Virginia Code / Title 64.2 / Subtitle II / Chapter 3 / Article 3 / Section 64.2-322
Acts of married persons
Status: in_force

The provisions of this article do not prevent married persons from severing or altering their interests in property to which this article applies.

1982, c. 456, § 64.1-204; 2012, c. 614 .
Va. Code Ann. § 64.2-1612 — Virginia Code / Title 64.2 / Subtitle IV / Part B / Chapter 16 / Article 1 / Section 64.2-1612
Agent's duties
Status: in_force

A. Notwithstanding provisions in the power of attorney, an agent that has accepted appointment shall:

1. Act in accordance with the principal's reasonable expectations to the extent actually known by the agent and, otherwise, in the principal's best interest;

2. Act in good faith; and

3. Act only within the scope of authority granted in the power of attorney.

B. Except as otherwise provided in the power of attorney, an agent that has accepted appointment shall:

1. Act loyally for the principal's benefit;

2. Act so as not to create a conflict of interest that impairs the agent's ability to act impartially in the principal's best interest;

3. Act with the care, competence, and diligence ordinarily exercised by agents in similar circumstances;

4. Keep a record of all receipts, disbursements, and transactions made on behalf of the principal;

5. Cooperate with a person that has authority to make health care decisions for the principal to carry out the principal's reasonable expectations to the extent actually known by the agent and otherwise act in the principal's best interest; and

6. Attempt to preserve the principal's estate plan, to the extent actually known by the agent, if preserving the plan is consistent with the principal's best interest based on all relevant factors, including:

a. The value and nature of the principal's property;

b. The principal's foreseeable obligations and need for maintenance;

c. Minimization of taxes, including income, estate, inheritance, generation-skipping transfer, and gift taxes; and

d. Eligibility for a benefit, a program, or assistance under a statute or regulation.

C. An agent that acts in good faith is not liable to any beneficiary of the principal's estate plan for failure to preserve the plan.

D. An agent that acts with care, competence, and diligence for the best interest of the principal is not liable solely because the agent also benefits from the act or has an individual or conflicting interest in relation to the property or affairs of the principal.

E. If an agent is selected by the principal because of special skills or expertise possessed by the agent or in reliance on the agent's representation that the agent has special skills or expertise, the special skills or expertise shall be considered in determining whether the agent has acted with care, competence, and diligence under the circumstances.

F. Absent a breach of duty to the principal, an agent is not liable if the value of the principal's property declines.

G. An agent that exercises authority to delegate to another person the authority granted by the principal or that engages another person on behalf of the principal is not liable for an act, error of judgment, or default of that person if the agent exercises care, competence, and diligence in selecting and monitoring the person; however, nothing herein is intended to abrogate any duty of the agent under the Uniform Prudent Investor Act (§ 64.2-780 et seq.).

H. Except as otherwise provided in the power of attorney, an agent shall disclose receipts, disbursements, or transactions conducted on behalf of the principal if requested by the principal, a guardian, a conservator, another fiduciary acting for the principal, or, upon the death of the principal, by the personal representative or successor in interest of the principal's estate. If so requested, within 30 days the agent shall comply with the request or provide a writing or other record substantiating why additional time is needed and shall comply with the request within an additional 30 days.

I. Except as otherwise provided in the power of attorney, an agent shall, on reasonable request made by a person listed in subdivisions A 3 through A 9 of § 64.2-1614 who has a good faith belief that the principal suffers an incapacity or, if deceased, suffered incapacity at the time the agent acted, disclose to such person the extent to which he has chosen to act and the actions taken on behalf of the principal within the five years prior to either (i) the date of the request or (ii) the date of the death of the principal, if the principal is deceased at the time such request is made, and shall permit reasonable inspection of records pertaining to such actions by such person. In all cases where the principal is deceased at the time such request is made, such request shall be made within one year after the date of the death of the principal. If so requested, within 30 days the agent shall comply with the request or provide a writing or other record substantiating why additional time is needed and shall comply with the request within an additional 30 days.

J. A provision in a power of attorney relieving an agent from the duties of disclosure required by this section shall be valid only if the principal signed or initialed, or a disinterested individual directed by the principal signed or initialed in the principal's conscious presence on the principal's behalf, an express statement in the power of attorney that the principal understands the provision and that the provision reflects the principal's wishes regardless of whether such provision is in the principal's best interests if the principal later becomes incapacitated. The principal shall acknowledge his signature before a notary public or other individual authorized by law to take acknowledgements for any such provision executed subsequent to the execution of an initial power of attorney. The provisions of this subsection shall apply to a power of attorney created on or after July 1, 2026.

2010, cc. 455 , 632 , § 26-85; 2012, c. 614 ; 2026, c. 398 .
Va. Code Ann. § 64.2-778.1 — Virginia Code / Title 64.2 / Subtitle III / Chapter 7 / Article 8 / Section 64.2-778.1
Repealed
Status: repealed

Repealed by Acts 2017, c. 592 , cl. 2 .
Va. Code Ann. § 64.2-2730 — Virginia Code / Title 64.2 / Subtitle V / Chapter 27 / Article 4 / Section 64.2-2730
Notice of release; recordation; fee
Status: in_force

A. A fiduciary or other person, association, or corporation having possession or control of any appointive property, other than the powerholder, shall not be deemed to have notice of a release of the power of appointment until the original or a copy of the release is delivered to such fiduciary or other person, association, or corporation.

B. A purchaser or mortgagee of any real property subject to a power of appointment, without actual notice of the release, shall not be deemed to have notice of a release of power until (i) the original or a copy of the release is recorded in the circuit court clerk's office in the county or city in which the real property is located, referencing the will or deed book where the instrument creating the power is recorded, and (ii) the deed, will, or other instrument creating the power of appointment, or a certified copy thereof, is recorded in the same clerk's office.

C. No release shall be invalid or ineffective for failing to comply with subsection A or B.

D. The clerk shall record a release of a power of appointment in the deed book and index the release in the daily and general indexes with the name of the powerholder being entered on the grantor index. For each such recordation, the clerk shall be paid a fee in the amount applicable to the recordation of deeds as set forth in subdivision A 2 of § 17.1-275 and an additional fee of $5.

2016, c. 266 .
Va. Code Ann. § 64.2-2605 — Virginia Code / Title 64.2 / Subtitle V / Chapter 26 / Section 64.2-2605
Disclaimer of rights of survivorship in jointly held property
Status: in_force

A. Upon the death of a holder of jointly held property, a surviving holder may disclaim, in whole or in part, the greater of (i) a fractional share of the property determined by dividing the number one by the number of joint holders alive immediately before the death of the holder to whose death the disclaimer relates or (ii) all of the property except that part of the value of the entire interest attributable to the contribution furnished by the disclaimant.

B. A disclaimer under subsection A takes effect as of the death of the holder of jointly held property to whose death the disclaimer relates.

C. An interest in jointly held property disclaimed by a surviving holder of the property passes as if the disclaimant predeceased the holder to whose death the disclaimer relates.

2003, c. 253 , § 64.1-196.6; 2012, c. 614 .
Va. Code Ann. § 64.2-536 — Virginia Code / Title 64.2 / Subtitle II / Chapter 5 / Article 6 / Section 64.2-536
Liability of heir or devisee; action by personal representative or creditor; recording notice of lis pendens; evidence
Status: in_force

An heir or devisee may be sued by the personal representative or any creditor to whom a claim is due for which the estate descended or devised is liable, or for which the heir or devisee is liable with regard to such estate. Any judgment for such a claim entered against the personal representative of the decedent is prima facie evidence of the claim against the heir or devisee in a suit against the heir or devisee by the personal representative or any creditor. In any suit by the personal representative or any creditor pursuant to this article, he shall record a notice of lis pendens as required by § 8.01-268 at the time of filing such suit. The personal representative or creditor has the burden to show to the satisfaction of the court that there are not sufficient personal assets in the estate to satisfy all claims against the estate.

Code 1950, § 64-174; 1968, cc. 515, 656, § 64.1-185; 2012, c. 614 .
Va. Code Ann. § 64.2-635 — Virginia Code / Title 64.2 / Subtitle II / Chapter 6 / Article 5 / Section 64.2-635
Optional form of transfer on death deed
Status: in_force

The following form may be used to create a transfer on death deed. The other sections of this article govern the effect of this or any other instrument used to create a transfer on death deed:

THIS DEED MUST BE RECORDED BEFORE THE DEATH OF THE OWNER(S), OR IT WILL NOT BE EFFECTIVE.

THIS DEED IS EXEMPT FROM RECORDATION TAXES UNDER § 58.1-811(J) OF THE CODE OF VIRGINIA OF 1950, AS AMENDED.

REVOCABLE TRANSFER ON DEATH DEED

THIS REVOCABLE TRANSFER ON DEATH DEED, dated as of the __________ day of _______________, is made by TRANSFEROR or TRANSFERORS (the Grantor(s)), whose address is ________________________________________.

This Revocable Transfer on Death Deed is made pursuant to the provisions of the Uniform Real Property Transfer on Death Act, Virginia Code § 64.2-621 et seq. In accordance with the provisions of the Uniform Real Property Transfer on Death Act, at my death, I transfer and convey my interest in the below described property to my designated beneficiaries as follows:

PRIMARY BENEFICIARY

I designate ____________________ as the designated beneficiary of the property if ____________________ survives me.

ALTERNATE BENEFICIARY -- Optional

If my primary designated beneficiary does not survive me, I designate ____________________ as my alternate designated beneficiary if my alternate designated beneficiary survives me.

PROPERTY:

The legal description of the real property that shall be transferred at my death pursuant to this Revocable Transfer on Death Deed is as follows:

INSERT LEGAL DESCRIPTION

RIGHT TO REVOKE AND METHOD TO REVOKE DEED:

Before my death, I have the right to revoke this deed.

Under the Uniform Real Property Transfer on Death Act, an instrument is effective to revoke a recorded transfer on death deed, or any part of it, only if the instrument:

1. Is one of the following:

a. A transfer on death deed that revokes the transfer on death deed or part of the transfer on death deed expressly;

b. A transfer on death deed that names a designated beneficiary that is inconsistent with the designated beneficiary in a prior transfer on death deed;

c. An instrument of revocation that expressly revokes the transfer on death deed or part of the transfer on death deed; or

d. An inter vivos deed that conveys real property to another so the transferor is no longer the owner at the time of the transferor's death.

2. Is acknowledged by the transferor after the acknowledgment of the transfer on death deed being revoked and recorded before the transferor's death in the land records of the clerk's office of the circuit court where the deed is recorded.

After this transfer on death deed is recorded, it can be revoked only by an effective revocatory instrument recorded prior to the death of the transferor and may not be revoked by a revocatory act taken against or on the original or a copy of the recorded transfer on death deed.

The execution and recordation of this transfer on death deed does not limit the effect of an inter vivos transfer of the property.

At my death, a beneficiary takes the property subject to all conveyances, encumbrances, assignments, contracts, mortgages, liens, and other interests to which the property is subject at my death.

Witness the following signature and seals:

________________________________________ (SEAL) TRANSFEROR

COMMONWEALTH OF VIRGINIA

CITY/COUNTY OF ____________________, to wit:

The foregoing instrument was acknowledged before me in the City/County of ____________________, Virginia this __________ day of _______________, by TRANSFEROR.

________________________________________ Notary Public

My commission expires: ____________________

Registration number: ____________________

2013, c. 390 ; 2025, c. 85 .
Va. Code Ann. § 64.2-2404 — Virginia Code / Title 64.2 / Subtitle V / Chapter 24 / Section 64.2-2404
Expenses and compensation
Status: in_force

The court may allow to such conservator such expenses and compensation as the court determines to be fair and reasonable for services performed under his appointment.

1944, p. 362; Michie Suppl. 1946, § 5400e; Code 1950, § 26-71; 2012, c. 614 .
Va. Code Ann. § 64.2-740 — Virginia Code / Title 64.2 / Subtitle III / Chapter 7 / Article 4 / Section 64.2-740
Interpretation of references to Internal Revenue Code in §§ 64.2-736 through 64.2-739
Status: in_force

Each reference to a section of the Internal Revenue Code made in §§ 64.2-736 through 64.2-739 shall include future amendments to such Code sections and corresponding provisions of future internal revenue laws.

2005, c. 935 , § 55-544.22; 2012, c. 614 .
Va. Code Ann. § 64.2-621 — Virginia Code / Title 64.2 / Subtitle II / Chapter 6 / Article 5 / Section 64.2-621
Definitions
Status: in_force

As used in this article:

"Beneficiary" means a person that receives property under a transfer on death deed.

"Designated beneficiary" means a person designated to receive property in a transfer on death deed.

"Joint owner" means an individual who owns property concurrently with one or more other individuals with a right of survivorship. "Joint owner" includes a joint tenant with the right of survivorship and tenant by the entirety with the right of survivorship. "Joint owner" does not include a tenant in common.

"Person" means an individual, corporation, business trust, estate, trust, partnership, limited liability company, association, joint venture, public corporation, government or governmental subdivision, agency, or instrumentality, or any other legal or commercial entity.

"Property" means an interest in real property located in the Commonwealth that is transferable on the death of the owner.

"Transfer on death deed" means a deed or conveyance of a cooperative interest authorized under this article.

"Transferor" means an individual who makes a transfer on death deed.

2013, c. 390 ; 2022, c. 309 .
Va. Code Ann. § 64.2-1045 — Virginia Code / Title 64.2 / Subtitle III / Chapter 10.1 / Article 3 / Section 64.2-1045
Applicable value
Status: in_force

A. A unitrust policy must provide the method for determining the fair market value of an asset for the purpose of determining the unitrust amount, including:

1. The frequency of valuing the asset, which need not require a valuation in every period; and

2. The date for valuing the asset in each period in which the asset is valued.

B. Except as otherwise provided in subdivision B 2 of § 64.2-1047 , a unitrust policy may provide methods for determining the amount of the net fair market value of the trust to take into account in determining the applicable value, including:

1. Obtaining an appraisal of an asset for which fair market value is not readily available;

2. Exclusion of specific assets or groups or types of assets;

3. Other exceptions or modifications of the treatment of specific assets or groups or types of assets;

4. Identification and treatment of cash or property held for distribution;

5. Use of:

a. An average of fair market values over a stated number of preceding periods; or

b. Another mathematical blend of fair market values over a stated number of preceding periods;

6. A limit on how much the applicable value of all assets, groups of assets, or individual assets may increase over:

a. The corresponding applicable value for the preceding period; or

b. A mathematical blend of applicable values over a stated number of preceding periods;

7. A limit on how much the applicable value of all assets, groups of assets, or individual assets may decrease below:

a. The corresponding applicable value for the preceding period; or

b. A mathematical blend of applicable values over a stated number of preceding periods;

8. The treatment of accrued income and other features of an asset that affect value; and

9. Determining the liabilities of the trust, including treatment of liabilities to conform with the treatment of assets under subdivisions 1 through 8.

2022, c. 354 .
Va. Code Ann. § 64.2-1426 — Virginia Code / Title 64.2 / Subtitle IV / Part A / Chapter 14 / Article 2 / Section 64.2-1426
Nonresident fiduciaries
Status: in_force

A. A natural person who is not a resident of the Commonwealth may be appointed or allowed to qualify or act as the personal representative, or trustee under a will, of any decedent, or appointed as the guardian of an infant's estate or the guardian or conservator of the property of an incapacitated person under Chapter 20 (§ 64.2-2000 et seq.) or Chapter 21 (§ 64.2-2100 et seq.).

Qualification of such person as a personal representative, or trustee under a will, of any decedent shall be subject to the provisions of Article 1 (§ 64.2-500 et seq.) of Chapter 5.

At the time of qualification or appointment, each such nonresident shall file with the clerk of the circuit court of the jurisdiction wherein the qualification is had or appointment is made his consent in writing that service of process in any action or proceeding against him as personal representative, trustee under a will, conservator, or guardian, or any other notice with respect to the administration of the estate, trust, or person in his charge in the Commonwealth may be by service upon the clerk of the court in which he is qualified or appointed, or upon such resident of the Commonwealth and at such address as the nonresident may appoint in the written instrument. In the event of the death, removal, resignation, or absence from the Commonwealth of a resident agent or any successor named by a similar instrument filed with the clerk, or if a resident agent or any such successor cannot with due diligence be found for service at the address designated in such instrument, then any process or notice may be served on the clerk of the circuit court. Notwithstanding §§ 64.2-505 and 64.2-2011 , where any nonresident qualifies, other than as a guardian of an incapacitated person, pursuant to this subsection, bond with surety shall be required in every case, unless a resident personal representative, trustee, or fiduciary qualifies at the same time or the court or clerk making the appointment waives surety under the provisions of § 64.2-1411 .

B. A corporation shall not be appointed or allowed to qualify or act as personal representative, as trustee under a will, or as one of the personal representatives or trustees under a will of any decedent, or appointed or allowed to qualify or act as guardian of an infant, as one of the guardians of an infant, as guardian of the person or property of an incapacitated person under Chapter 20 (§ 64.2-2000 et seq.) or Chapter 21 (§ 64.2-2100 et seq.), or as one of the guardians or conservators, unless the corporation is authorized to do business in the Commonwealth. Nothing in this section shall be construed to impair the validity of any appointment or qualification made prior to January 1, 1962, nor to affect in any way the other provisions of this chapter or of § 64.2-609 . The provisions of this section shall not authorize or allow any appointment or qualification prohibited by § 6.2-803 .

C. The fact that an individual nominated or appointed as the guardian of the person of an infant is not a resident of the Commonwealth shall not prevent the qualification of the individual to serve as the sole guardian of the person of the infant.

1924, p. 415; 1936, p. 760; Michie Code 1942, § 5400a; 1950, p. 724, § 26-59; 1962, c. 576; 1983, c. 467; 1984, c. 39; 1986, cc. 53, 543; 1989, c. 535; 1995, cc. 678 , 684 ; 1996, c. 680 ; 1997, c. 921 ; 2001, c. 836 ; 2011, c. 518 ; 2012, c. 614 .
Va. Code Ann. § 64.2-533 — Virginia Code / Title 64.2 / Subtitle II / Chapter 5 / Article 6 / Section 64.2-533
Administration of assets for payment of debts
Status: in_force

The circuit court in which a report of the accounts of a decedent's personal representative and of the debts and demands against the decedent's estate is or may be filed may administer the real estate of the decedent in the possession of the decedent's personal representative that is an asset for the payment of the decedent's debts and demands against the decedent's estate, or any circuit court may administer such real estate.

Code 1950, § 64-172; 1968, c. 656, § 64.1-182; 2012, c. 614 .
Va. Code Ann. § 64.2-1635 — Virginia Code / Title 64.2 / Subtitle IV / Part B / Chapter 16 / Article 2 / Section 64.2-1635
Benefits from governmental programs or civil or military service
Status: in_force

A. In this section, "benefits from governmental programs or civil or military service" means any benefit, program, or assistance provided under a statute or regulation including, but not limited to, Social Security, Medicare, Medicaid, and the Department of Veterans Affairs.

B. Unless the power of attorney otherwise provides, language in a power of attorney granting general authority with respect to benefits from governmental programs or civil or military service authorizes the agent to:

1. Execute vouchers in the name of the principal for allowances and reimbursements payable by the United States or a foreign government or by a state or subdivision of a state to the principal, including allowances and reimbursements for transportation of the individuals described in subdivision A 1 of § 64.2-1634 and for shipment of their household effects;

2. Take possession and order the removal and shipment of property of the principal from a post, warehouse, depot, dock, or other place of storage or safekeeping, either governmental or private, and execute and deliver a release, voucher, receipt, bill of lading, shipping ticket, certificate, or other instrument for that purpose;

3. Enroll in, apply for, select, reject, change, amend, or discontinue, on the principal's behalf, a benefit or program;

4. Prepare, file, and maintain a claim of the principal for a benefit or assistance, financial or otherwise, to which the principal may be entitled under a statute or regulation;

5. Initiate, participate in, submit to alternative dispute resolution of, settle, oppose, or propose or accept a compromise with respect to litigation concerning any benefit or assistance the principal may be entitled to receive under a statute or regulation; and

6. Receive the financial proceeds of a claim described in subdivision 4 and conserve, invest, disburse, or use for a lawful purpose anything so received.

2010, cc. 455 , 632 , § 26-108; 2012, c. 614 .
Va. Code Ann. § 64.2-2728 — Virginia Code / Title 64.2 / Subtitle V / Chapter 27 / Article 4 / Section 64.2-2728
Authority to release
Status: in_force

A powerholder may release a power of appointment, in whole or in part, except to the extent that the terms of the instrument creating the power prevent the release.

2016, c. 266 .
Va. Code Ann. § 64.2-2305 — Virginia Code / Title 64.2 / Subtitle V / Chapter 23 / Section 64.2-2305
Entry of order that presumption of death is applicable; effect
Status: in_force

A. If, after the hearing conducted pursuant to § 64.2-2304 and any subsequent publication required pursuant to that section, the court determines that the presumption of death is applicable, the court shall enter an order determining that the presumed decedent is in fact dead. Upon entry of such order, the court shall proceed to admit any will to probate, issue letters of administration to the party entitled thereto, or order that the claim of the heirs at law, devisees, next of kin, legatees, beneficiaries, survivors, or other successors in interest of the presumed decedent be established. If the order is subsequently revoked pursuant to § 64.2-2307 , all acts done in pursuance of or in reliance on the order shall be as valid as if the presumed decedent were actually dead.

B. The court's order determining a person to be dead shall state the person's date of death to be:

1. The date of the expiration of the seven-year period in a proceeding governed by subsection A of § 64.2-2300 , except that in a proceeding governed by subdivision A 1 c of § 64.2-2300 it shall be the date of the Department of State's issuance of a report of presumptive death unless the evidence shows the likelihood of death at an earlier date;

2. The date of the person's exposure to the specific peril of death in a proceeding governed by subsection B of § 64.2-2300 ; or

3. The date of the person's disappearance in a proceeding governed by subsection C of § 64.2-2300 .

C. A certified copy of the court's order determining that the presumed decedent is in fact dead shall be accepted as proof of death in all situations in which a certificate of death issued by the State Registrar of Vital Records of the Virginia Department of Health would have been accepted as such proof.

Code 1950, § 64-107; 1968, c. 656, § 64.1-111; 2006, c. 351 ; 2012, c. 614 .
Va. Code Ann. § 64.2-772 — Virginia Code / Title 64.2 / Subtitle III / Chapter 7 / Article 8 / Section 64.2-772
Recordkeeping and identification of trust property
Status: in_force

A. A trustee shall keep adequate records of the administration of the trust.

B. A trustee shall keep trust property separate from the trustee's own property.

C. Except as otherwise provided in subsection D, a trustee shall cause the trust property to be designated so that the interest of the trust, to the extent feasible, appears in records maintained by a party other than a trustee or beneficiary.

D. If the trustee maintains records clearly indicating the respective interests, a trustee may invest as a whole the property of two or more separate trusts.

E. A deed or other instrument purporting to convey or transfer real or personal property to a trust instead of to the trustee or trustees of the trust shall be deemed to convey or transfer such property to the trustee or trustees as fully as if made directly to the trustee or trustees.

2005, c. 935 , § 55-548.10; 2007, c. 197 ; 2012, c. 614 .
Va. Code Ann. § 64.2-711 — Virginia Code / Title 64.2 / Subtitle III / Chapter 7 / Article 2 / Section 64.2-711
Jurisdiction over trustee and beneficiary
Status: in_force

A. By accepting the trusteeship of a trust having its principal place of administration in the Commonwealth or by moving the principal place of administration to the Commonwealth, the trustee submits personally to the jurisdiction of the courts of the Commonwealth regarding any matter involving the trust.

B. With respect to their interests in the trust, the beneficiaries of a trust having its principal place of administration in the Commonwealth are subject to the jurisdiction of the courts of the Commonwealth regarding any matter involving the trust. By accepting a distribution from such a trust, the recipient submits personally to the jurisdiction of the courts of the Commonwealth regarding any matter involving the trust.

C. This section does not preclude other methods of obtaining jurisdiction over a trustee, beneficiary, or other person receiving property from the trust.

2005, c. 935 , § 55-542.02; 2012, c. 614 .
Va. Code Ann. § 64.2-1400 — Virginia Code / Title 64.2 / Subtitle IV / Part A / Chapter 14 / Article 1 / Section 64.2-1400
Authority to qualify trustee; necessity for security; notice of qualification; qualification by less than all of trustees named
Status: in_force

A. Subject to the provisions of § 64.2-1406 , the clerk of any circuit court or any duly qualified deputy of such clerk may qualify any trustee named in a will, deed, or other writing, and require and take from them the necessary bonds in the same manner and with like effect as the court.

B. Pursuant to the provisions of § 64.2-1426 , the clerk or deputy may appoint and qualify an individual or a corporation authorized under § 6.2-803 as trustee. Such appointment may be made in the same manner and subject to the provisions of § 64.2-500 .

C. The clerk shall not require security from a trustee if the will, deed, or other writing directs that a trustee shall not give security, unless, based on the application of any interested person or on the clerk's own knowledge, the clerk determines that security ought to be required. This section shall not be construed to require security where security is not required pursuant to § 6.2-1003 or 64.2-1401 or to affect the jurisdiction of the court to qualify trustees and to require security or not, as the court sees fit.

D. Qualification of a trustee under this section may be ex parte, and no prior notice to the beneficiaries of the qualification shall be required. If less than all the trustees named in the deed, will, or other writing desire to qualify, then the trustee shall only be qualified after reasonable notice is given to any other named trustees.

E. If less than all the trustees named in the will, deed, or other writing qualify, then the trust powers conferred by the trust instrument shall be exercisable only by the trustees who have qualified under this section or in any other manner permitted by law.

1964, c. 464, § 26-46.1; 1977, c. 256; 1981, c. 239; 1997, c. 220 ; 2012, c. 614 .
Va. Code Ann. § 64.2-1414 — Virginia Code / Title 64.2 / Subtitle IV / Part A / Chapter 14 / Article 1 / Section 64.2-1414
Effect of orders of qualification of bank as committee or guardian
Status: in_force

If a bank qualifies as committee or guardian and the order of qualification fails to specify that the bank is to be guardian or committee of the person, it shall be deemed a qualification solely as committee, conservator, or guardian of the estate.

2010, c. 794 , § 26-7.5; 2012, c. 614 .
Va. Code Ann. § 64.2-629 — Virginia Code / Title 64.2 / Subtitle II / Chapter 6 / Article 5 / Section 64.2-629
Notice, delivery, acceptance, consideration not required
Status: in_force

A transfer on death deed is effective without:

1. Notice or delivery to or acceptance by the designated beneficiary during the transferor's life; or

2. Consideration.

2013, c. 390 .
Va. Code Ann. § 64.2-1703 — Virginia Code / Title 64.2 / Subtitle IV / Part C / Chapter 17 / Section 64.2-1703
Nomination of guardians
Status: in_force

A. A minor who is at least 14 years old may, in the presence of the court or clerk, or in writing acknowledged before any officer qualified to take acknowledgments, nominate his own guardian for the estate or person of the minor, who shall be appointed if the court or clerk find that the guardian nominated is suitable and competent. If the guardian nominated by the minor is not appointed, if the minor resides without the Commonwealth, or if the court or clerk finds that the guardian nominated is not suitable and competent, the court or clerk may nominate and appoint a guardian for the minor in the same manner as if the minor were less than 14 years old.

B. In no case shall any person not related to the minor be appointed guardian until 30 days have elapsed since the death or disqualification of any natural or testamentary guardians and the minor's next of kin have had an opportunity to petition the court for appointment and unless the court or clerk is satisfied that such nonrelated person is competent to perform the duties of his office.

Code 1919, § 5317; 1926, p. 589; 1928, p. 1085; 1946, p. 223; Code 1950, § 31-5; 1954, c. 468; 1999, c. 16 ; 2012, c. 614 .
Va. Code Ann. § 64.2-1046 — Virginia Code / Title 64.2 / Subtitle III / Chapter 10.1 / Article 3 / Section 64.2-1046
Period
Status: in_force

A. A unitrust policy must provide the period used under §§ 64.2-1044 and 64.2-1045 . Except as otherwise provided in subdivision B 3 of § 64.2-1047 , the period may be:

1. A calendar year;

2. A 12-month period other than a calendar year;

3. A calendar quarter;

4. A three-month period other than a calendar quarter; or

5. Another period.

B. Except as otherwise provided in subsection B of § 64.2-1047 , a unitrust policy may provide standards for:

1. Using fewer preceding periods under subdivision A 2 b, B 3, or B 4 of § 64.2-1044 if:

a. The trust was not in existence in a preceding period; or

b. Market indices or other published data are not available for a preceding period;

2. Using fewer preceding periods under subdivision B 5 a, B 5 b, B 6 b, or B 7 b of § 64.2-1045 if:

a. The trust was not in existence in a preceding period; or

b. Fair market values are not available for a preceding period; and

3. Prorating the unitrust amount on a daily basis for a part of a period in which the trust or the administration of the trust as a unitrust or the interest of any beneficiary commences or terminates.

2022, c. 354 .
Va. Code Ann. § 64.2-538 — Virginia Code / Title 64.2 / Subtitle II / Chapter 5 / Article 6 / Section 64.2-538
Lien acquired during lifetime of decedent not affected
Status: in_force

This article shall not affect any lien acquired during the lifetime of the decedent.

Code 1950, § 64-176; 1968, c. 656, § 64.1-187; 2012, c. 614 .
Va. Code Ann. § 64.2-783 — Virginia Code / Title 64.2 / Subtitle III / Chapter 7 / Article 9 / Section 64.2-783
Diversification by trustee
Status: in_force

A trustee shall diversify the investments of the trust unless the trustee reasonably determines that, because of special circumstances, the purposes of the trust are better served without diversifying.

1999, c. 772 , § 26-45.5; 2012, c. 614 .
Va. Code Ann. § 64.2-2400 — Virginia Code / Title 64.2 / Subtitle V / Chapter 24 / Section 64.2-2400
Appointment of conservator; jurisdiction and procedure
Status: in_force

A. For purposes of this chapter:

"Absentee" means a person who is a resident of the Commonwealth or a nonresident of the Commonwealth who has an interest in any property located within the Commonwealth who (i) disappears or absents himself from his usual place of residence, (ii) is reported or listed as missing or missing in action, or (iii) is interned in a neutral country or captured by an enemy country.

B. Upon the filing of a petition for the appointment of a conservator, the court having probate jurisdiction in the city or county of the absentee's legal residence or, if such absentee is a nonresident, the court having probate jurisdiction in the city or county where the property is located, may appoint, upon good cause shown, a conservator to take charge of the absentee's estate. If the absentee is a nonresident, the petition shall allege the facts and show the necessity for providing for the care of the property of the absentee. The petition may be filed by any person who would have an interest in the property of the absentee were he deceased, including a creditor of the absentee, or made on the court's own motion, and after notice is given to the heirs and next of kin of such absentee, as provided by law.

1944, p. 361; Michie Suppl. 1946, § 5400b; Code 1950, § 26-68; 2012, c. 614 .
Va. Code Ann. § 64.2-1306 — Virginia Code / Title 64.2 / Subtitle IV / Part A / Chapter 13 / Section 64.2-1306
Testamentary trustees
Status: in_force

A. Except as provided in subsections B and C, testamentary trustees shall exhibit a statement of all money and other property that the fiduciary has received, has become chargeable with, or has disbursed for each calendar year before the commissioner of accounts of the circuit court where the order conferring his authority was entered on an annual basis commencing on or before May 1 of the calendar year following initial funding of the trust. Accounts for each calendar year thereafter shall be filed on or before May 1 of the following calendar year.

B. All testamentary trustees who qualify prior to July 1, 1993, and elect to file accounts on a fiscal year basis may continue to file such accounts on an annual basis within four months after the end of the fiscal year selected.

C. Accountings for trusts where one of the trustees is a corporation qualified under § 6.2-803 , and by other testamentary trustees permitted by the Internal Revenue Code to file income tax returns on a fiscal year, may be filed on the basis of the trust fiscal year. The first account shall be filed within 16 months of the date on which the trust was initially funded.

1993, c. 689, § 26-17.6; 2012, c. 614 .
Va. Code Ann. § 64.2-777 — Virginia Code / Title 64.2 / Subtitle III / Chapter 7 / Article 8 / Section 64.2-777
General powers of trustee
Status: in_force

A. A trustee, without authorization by the court, may exercise:

1. Powers conferred by the terms of the trust; and

2. Except as limited by the terms of the trust:

a. All powers over the trust property that an unmarried competent owner has over individually owned property;

b. Any other powers appropriate to achieve the proper investment, management, and distribution of the trust property; and

c. Any other powers conferred by this chapter.

B. The exercise of a power is subject to the fiduciary duties prescribed by this article.

C. Any reference in a trust instrument incorporating the powers authorized under § 64.2-105 shall not be construed to limit powers a trustee may exercise pursuant to this section, unless the settlor expressly states in the trust instrument that such reference should be so construed.

2005, c. 935 , § 55-548.15; 2012, c. 614 .
Va. Code Ann. § 64.2-1315 — Virginia Code / Title 64.2 / Subtitle IV / Part A / Chapter 13 / Section 64.2-1315
Certification and recording of accounts settled in a judicial proceeding
Status: in_force

When the account of any fiduciary is settled in a judicial proceeding, it shall be the duty of the clerk of the circuit court in which the judicial proceeding was held, as soon as may be practicable after entry of a final order, to certify to the clerk of the circuit court in which the fiduciary qualified a copy of the account so far as the account has been confirmed, with a memorandum at the foot of the copy stating the style of the suit and the date of the final order. The account and memorandum so certified shall be recorded by the clerk to whom it is certified in the book in which accounts of fiduciaries are required to be recorded under § 64.2-1214 . If in a proceeding subsequent to the entry of the final order, the account is reformed or altered, a copy of such reformed or altered account shall be certified and recorded, together with a memorandum stating the style of the suit and the date of the order or decree of confirmation, in the same manner as the final order. When the judicial proceeding is conducted in the same court in which the fiduciary qualified, the clerk of such court shall make the memoranda and recordations required by this section, and shall for such purpose use the original papers. For making any copy under this section, the clerk shall be entitled to the fees prescribed in like cases, and for recording such account of the fiduciary he shall be entitled to the fees allowed for recording accounts settled ex parte. The fees for copying and recording shall be paid as the court in which the judicial proceeding was held shall direct.

Code 1919, § 5411; Code 1950, § 26-21; 2005, c. 681 ; 2012, c. 614 .
Va. Code Ann. § 64.2-305 — Virginia Code / Title 64.2 / Subtitle II / Chapter 3 / Article 1 / Section 64.2-305
Augmented estate; exclusions; valuation
Status: in_force

A. The augmented estate means the decedent's entire estate passing by will or intestate succession, real and personal, after payment of allowances and exemptions under Article 2 (§ 64.2-309 et seq.) of this chapter, funeral expenses, charges of administration that shall not include federal or state transfer taxes, and debts, and to which is added the following amounts:

1. The value of property, other than tangible personal property received by gift and the proceeds thereof, owned or acquired by the surviving spouse at the decedent's death, to the extent the property is derived from the decedent by any means other than by will or intestate succession without full consideration in money or money's worth;

2. The value of property, other than tangible personal property received by gift and the proceeds thereof, derived by the surviving spouse from the decedent without full consideration in money or money's worth by any means other than by will or intestate succession, and transferred by the surviving spouse at any time during the marriage to a person other than the decedent, which would have been includable in the surviving spouse's augmented estate if the surviving spouse had predeceased the decedent; and

3. The value of property transferred to anyone other than a bona fide purchaser by the decedent at any time during the marriage to the surviving spouse, to or for the benefit of any person other than the surviving spouse, to the extent that the decedent did not receive full consideration in money or money's worth for the transfer, if the transfer was any of the following types:

a. Any transfer under which the decedent retained for his life, for any period not ascertainable without reference to his death, or for any period which does not in fact end before his death, the possession or enjoyment of, or the right to income from, the property;

b. Any transfer to the extent that the decedent retained for his life, for any period not ascertainable without reference to his death, or for any period which does not in fact end before his death, the power, either alone or in conjunction with any other person, to revoke or to consume, invade, or dispose of the principal for his own benefit;

c. Any transfer whereby property is held at the time of the decedent's death by the decedent and another with right of survivorship; or

d. Any transfer made to or for the benefit of a donee within the calendar year of the decedent's death or any of the five preceding calendar years to the extent that the aggregate value of the transfers to the donee exceeds the amount specified in § 2503(b) of the Internal Revenue Code of 1986, as amended, for that calendar year, without regard to whether the federal gift tax exclusion applies to the transfer.

B. Notwithstanding the provisions of this section, the augmented estate shall not include (i) the value of any property transferred by the decedent during marriage with the written consent or joinder of the surviving spouse; (ii) the value of any property, its income, or proceeds received by the decedent, before or during the marriage to the surviving spouse, by gift, will, intestate succession, or any other method or form of transfer to the extent it was (a) received without full consideration in money or money's worth from a person other than the surviving spouse, and (b) maintained by the decedent as separate property; (iii) any transfer made to anyone other than the surviving spouse prior to January 1, 1991, to the extent that such transfer was irrevocable on that date; or (iv) the value of any property excluded from the augmented estate pursuant to § 64.2-317 .

C. Property is valued as of the decedent's death, except that property irrevocably transferred during the lifetime of the decedent is valued as of the date the transferee came into possession or enjoyment of the property if such date precedes the date of the decedent's death.

1. Life estates and remainder interests are valued in the manner prescribed in Chapter 5 (§ 55.1-500 et seq.) of Title 55.1, and deferred payments and estates for years are discounted to present value using the interest rate specified in § 55.1-500 .

2. The value of an insurance policy that is irrevocably transferred during the lifetime of a decedent is the cost of a comparable policy on the date of the transfer or, if such a policy is not readily available, the policy's interpolated terminal reserve. The value of any premiums paid on an insurance policy owned by another person is only the amount of the premiums paid and not the insurance purchased or maintained with such premiums.

3. An initial interest in property owned as a joint tenant with survivorship is valued at the time the interest is acquired, and a further interest received upon the death of a cotenant is valued at the time of the cotenant's death. Property owned jointly by persons married to each other is rebuttably presumed to have been acquired with contributions of equal value by each tenant. The mere creation of an indebtedness secured by jointly owned property is not a contribution to its acquisition, but any satisfaction of such an indebtedness is a contribution. An interest in a tenancy by the entireties is valued as if it were an interest in a joint tenancy with survivorship. Joint accounts in financial institutions are valued in accordance with the provisions of Article 2 (§ 6.2-604 et seq.) of Chapter 6 of Title 6.2.

1990, c. 831, § 64.1-16.1; 1992, cc. 617, 647; 1998, c. 234 ; 1999, c. 38 ; 2007, c. 308 ; 2012, c. 614 ; 2014, c. 532 .
Va. Code Ann. § 64.2-603 — Virginia Code / Title 64.2 / Subtitle II / Chapter 6 / Article 1 / Section 64.2-603
Discharge and release of payor
Status: in_force

Any person paying or delivering a small asset pursuant to § 64.2-601 or 64.2-602 is discharged and released to the same extent as if that person dealt with the personal representative of the decedent. Such person is not required to see the application of the small asset or to inquire into the truth of any statement in any affidavit presented pursuant to subsection A of § 64.2-601 . If any person to whom such an affidavit is presented refuses to pay or deliver any small asset, it may be recovered, or its payment or delivery compelled, and damages may be recovered, on proof of rightful claim in a proceeding brought for that purpose by or on behalf of the person entitled thereto. Any person to whom payment or delivery of a small asset has been made is answerable and accountable therefor to any personal representative of the decedent's estate or to any other successor having an equal or superior right.

1981, c. 281, § 64.1-132.4; 2010, c. 269 ; 2012, c. 614 .
Va. Code Ann. § 64.2-504 — Virginia Code / Title 64.2 / Subtitle II / Chapter 5 / Article 1 / Section 64.2-504
Bond of executor or administrator
Status: in_force

A. Except as provided in subsection B, every bond of an executor or administrator shall be, at least, in an amount equal to (i) the full value of the personal estate of the decedent to be administered, or (ii) if the will authorizes the executor or administrator to sell real estate, or receive the rents and profits thereof, the full value of the personal estate and such real estate, or the rents and profits thereof, as the case may be.

B. Upon the request of an executor or administrator, the clerk shall redetermine the amount of the bond in light of any reduction in the current market value of the estate in the executor's or administrator's possession or subject to his power, whether such reduction is due to disbursements, distributions, or valuation of assets, if such reduction is reflected in an accounting that has been confirmed by the court or an inventory that has been approved by the commissioner of accounts and recorded in the clerk's office. This provision shall not apply to any bond set by the court.

Code 1950, § 64-116; 1968, c. 656, § 64.1-120; 1996, c. 317 ; 2012, c. 614 .
Va. Code Ann. § 64.2-779.24 — Virginia Code / Title 64.2 / Subtitle III / Chapter 7 / Article 8.1 / Section 64.2-779.24
Obligations
Status: in_force

A debt, liability, or other obligation enforceable against property of a first trust is enforceable to the same extent against the property when held by the second trust after exercise of the decanting power.

2017, c. 592 .
Va. Code Ann. § 64.2-1064 — Virginia Code / Title 64.2 / Subtitle III / Chapter 10.1 / Article 7 / Section 64.2-1064
Disbursement from income
Status: in_force

Subject to § 64.2-1067 , and except as otherwise provided in subdivision C 2 or 3 of § 64.2-1071 , a fiduciary shall disburse from income:

1. One-half of:

a. The regular compensation of the fiduciary and any person providing investment advisory, custodial, or other services to the fiduciary, to the extent income is sufficient; and

b. An expense for an accounting, judicial or nonjudicial proceeding, or other matter that involves both income and successive interests, to the extent income is sufficient;

2. The balance of the disbursements described in subdivision 1, to the extent a fiduciary that is an independent person determines that making those disbursements from income would be in the interests of the beneficiaries;

3. Another ordinary expense incurred in connection with administration, management, or preservation of property and distribution of income, including interest, an ordinary repair, regularly recurring tax assessed against principal, and an expense of an accounting, judicial or nonjudicial proceeding, or other matter that involves primarily an income interest, to the extent income is sufficient; and

4. A premium on insurance covering loss of a principal asset or income from or use of the asset.

2022, c. 354 .
Va. Code Ann. § 64.2-707 — Virginia Code / Title 64.2 / Subtitle III / Chapter 7 / Article 1 / Section 64.2-707
Methods and waiver of notice
Status: in_force

A. Notice to a person under this chapter or the sending of a document to a person under this chapter shall be accomplished in a manner reasonably suitable under the circumstances and likely to result in receipt of the notice or document. Permissible methods of notice or for sending a document include first-class mail, personal delivery, delivery to the person's last known place of residence or place of business, or a properly directed electronic message.

B. Notice otherwise required under this chapter or a document otherwise required to be sent under this chapter need not be provided to a person whose identity or location is unknown to and not reasonably ascertainable by the trustee.

C. Notice under this chapter or the sending of a document under this chapter may be waived by the person to be notified or sent the document.

D. Notice of a judicial proceeding shall be given as provided in § 64.2-713 .

2005, c. 935 , § 55-541.09; 2012, c. 614 .
Va. Code Ann. § 64.2-1034 — Virginia Code / Title 64.2 / Subtitle III / Chapter 10.1 / Article 1 / Section 64.2-1034
Scope
Status: in_force

Except as otherwise provided in the terms of the trust or this chapter, this chapter applies to:

1. A trust or estate; and

2. A life estate or other term interest in which the interest of one or more persons will be succeeded by the interest of one or more other persons.

2022, c. 354 .
Va. Code Ann. § 64.2-1203 — Virginia Code / Title 64.2 / Subtitle IV / Part A / Chapter 12 / Section 64.2-1203
Subpoena powers of commissioners of accounts, assistants, and deputies; penalty
Status: in_force

Commissioners of accounts, assistant commissioners of accounts, and deputy commissioners of accounts shall have the power to issue subpoenas to require any person to appear before them and to issue subpoenas duces tecum to require the production of any documents or papers before them. Commissioners of accounts, assistants, and deputies shall not have the power to punish any person for contempt for failure to appear or to produce documents or papers, but may certify the fact of such nonappearance or failure to produce to the circuit court, which may impose penalties for civil contempt as if the court had issued the subpoena. Commissioners of accounts, assistants, and deputies may certify to the circuit court the fact of a fiduciary's failure to inform the clerk or commissioners of his nonresident status and new address pursuant to § 64.2-1409 . The court, upon a finding of a violation of § 64.2-1409 , may impose a $50 civil penalty. Such penalties shall be paid to the state treasurer for deposit into the general fund.

1974, c. 126, § 26-8.1; 1997, c. 842 ; 2005, c. 644 . 2012, c. 614 .
Va. Code Ann. § 64.2-531 — Virginia Code / Title 64.2 / Subtitle II / Chapter 5 / Article 5 / Section 64.2-531
Nonexoneration; payment of lien if granted by agent
Status: in_force

A. For the purposes of this section, "revocable," "settlor," "trustee," and "trust instrument" mean the same as those terms are defined in § 64.2-701 .

B. Unless a contrary intent is clearly set out in the will, the trust instrument, or a transfer on death deed, (i) real or personal property that is the subject of a specific devise or bequest in the will or the trust instrument that was revocable immediately before the settlor's death or (ii) real property subject to a transfer on death deed passes, subject to any mortgage, pledge, security interest, or other lien existing at the date of death of the testator or settlor, without the right of exoneration. A general directive in the will or trust instrument to pay debts shall not be evidence of a contrary intent that the mortgage, pledge, security interest, or other lien be exonerated prior to passing to the legatee.

C. The personal representative may give written notice to the creditor holding any debt to which subsection B applies that there is no right of exoneration for such debt pursuant to this section. Such notice shall include a copy of this section. Any such notice shall be sent by certified mail (i) to the address the creditor last provided to the debtor as the address to which notices to the creditor are to be sent; (ii) if the personal representative cannot reasonably determine the address to which notices to the creditor are to be sent, to the address the creditor last provided to the debtor as the address at which payments to the creditor are to be made; or (iii) if the personal representative cannot reasonably determine either the address to which notices to the creditor are to be sent or at which payments to the creditor are to be made, to (a) the address of the creditor's registered agent on file with the Virginia State Corporation Commission or (b) if there is no such registered agent on file, to the creditor's last known address. The creditor holding such debt may file a claim for such debt with the commissioner of accounts pursuant to § 64.2-552 on or before the later of one year after the qualification of the personal representative of the decedent's estate or six months after the personal representative gives such written notice to the creditor. Once the personal representative has given notice to the creditor as provided in this section, unless the creditor files a timely claim against the estate as set forth in this subsection, the liability of a personal representative or his surety for such debt shall not exceed the assets of the decedent remaining in the possession of the personal representative and available for application to the debt pursuant to § 64.2-528 at the time the creditor presents a demand for payment of such debt to the personal representative. Nothing in this section shall affect either the liability of the estate for such debt to the extent of the decedent's assets remaining at the time a claim is filed or the liability of the beneficiaries that receive the decedent's assets to the extent of such receipt.

In the event that any such claim is timely filed with the commissioner of accounts, the personal representative shall give the specific beneficiary receiving such real or personal property written notice, within 90 days after such claim is filed, to obtain from the creditor the release of the estate from such claim. The notice to a beneficiary may be made to the personal representative of a deceased beneficiary whose estate is a beneficiary, an attorney-in-fact for a beneficiary, a guardian or conservator of an incapacitated beneficiary, a committee of a convict or insane beneficiary, or the duly qualified guardian of a minor or, if none exists, a custodial parent of a minor. If the estate has not been released from such claim after the later of 180 days from such notice or one year from qualification, the personal representative may (1) sell the real or personal property that is the subject of a specific devise or bequest and that is also subject to the claim, (2) apply the proceeds of sale to the satisfaction of the claim, and (3) distribute any excess proceeds from such sale of the specific beneficiary of such property. If the proceeds of such sale are insufficient to satisfy the debt in full, the deficiency shall remain a debt of the estate to be satisfied from the other assets of the estate in accordance with applicable law. If such real property is subject to a transfer on death deed and is also subject to the claim, the personal representative may proceed as provided in § 64.2-634 to enforce the liability for such claim against such property.

D. Subsection B shall not apply to any mortgage, pledge, security interest, or other lien existing at the date of death of the testator or settlor against any specifically devised or bequeathed real or personal property, or any real property subject to a transfer on death deed, that was granted by an agent acting within the authority of a durable power of attorney for the testator or settlor while the testator or settlor was incapacitated. For the purposes of this section, (i) no adjudication of the testator's or settlor's incapacity is necessary, (ii) the acts of an agent within the authority of a durable power of attorney are rebuttably presumed to be for an incapacitated testator or settlor, and (iii) an incapacitated testator or settlor is one who is impaired by reason of mental illness, intellectual disability, physical illness or disability, chronic use of drugs, chronic intoxication, or other cause creating a lack of sufficient understanding or capacity to make or communicate responsible decisions. This subsection shall not apply (a) if the mortgage, pledge, security interest, or other lien granted by the agent on the specific property is thereafter ratified by the testator or settlor while he is not incapacitated or (b) if the durable power of attorney was limited to one or more specific purposes and was not general in nature.

E. Subsection B shall not apply to any mortgage, pledge, security interest, or other lien existing at the date of the death of the testator or settlor against any specific devise or bequest of any real or personal property, or any real property subject to a transfer on death deed, that was granted by a conservator, guardian, or committee of the testator or settlor. This subsection shall not apply if, after the mortgage, pledge, security interest, or other lien granted by the conservator, guardian, or committee, there is an adjudication that the testator's or settlor's disability has ceased and the testator or settlor survives that adjudication by at least one year.

F. Nothing in this section shall affect the priority of a secured debt with respect to the collateral securing such debt.

2007, c. 341 , § 64.1-157.1; 2012, cc. 476 , 507 , 614 ; 2013, c. 390 ; 2017, cc. 34 , 139 ; 2024, c. 576 .
Va. Code Ann. § 64.2-719 — Virginia Code / Title 64.2 / Subtitle III / Chapter 7 / Article 4 / Section 64.2-719
Methods of creating trust
Status: in_force

A. A trust may be created by:

1. Transfer of property to another person as trustee during the settlor's lifetime by the settlor or by the settlor's agent, acting in accordance with § 64.2-1612 , under a power of attorney that expressly authorizes the agent to create a trust on the settlor's behalf or by will or other disposition taking effect upon the settlor's death;

2. Declaration by the owner of property that the owner holds identifiable property as trustee;

3. Exercise of a power of appointment in favor of a trustee; or

4. A conservator acting in accordance with § 64.2-2023 .

B. A circuit court, upon petition from an interested party, may create and establish a trust with such trustee and such terms as the court determines. In an order creating and establishing the trust, the court shall determine whether the trustee shall have a duty to qualify in the clerk's office; post bond, with or without surety; or file an inventory and annual accounting with the commissioner of accounts as would apply to a testamentary trustee.

2005, c. 935 , § 55-544.01; 2010, cc. 455 , 632 ; 2012, c. 614 ; 2013, c. 523 ; 2016, c. 186 .
Va. Code Ann. § 64.2-624 — Virginia Code / Title 64.2 / Subtitle II / Chapter 6 / Article 5 / Section 64.2-624
Transfer on death deed authorized
Status: in_force

An individual may transfer property to one or more beneficiaries effective at the transferor's death by a transfer on death deed.

2013, c. 390 .
Va. Code Ann. § 64.2-2506 — Virginia Code / Title 64.2 / Subtitle V / Chapter 25 / Section 64.2-2506
Contingent remainders and future interests
Status: in_force

A. As to any contingent remainder or executory or other future interest held by the slayer subject to become vested in him or increased in any way for him upon the death of the decedent, the slayer shall be deemed to have predeceased the decedent if the interest would not have become vested or increased if the slayer had predeceased the decedent.

B. Notwithstanding subsection A, any contingent remainder or executory or other future interest shall not be vested in the slayer or increased in any way for him during the period of the life expectancy of the decedent.

1981, c. 469, § 55-409; 2012, c. 614 .
Va. Code Ann. § 64.2-1909 — Virginia Code / Title 64.2 / Subtitle IV / Part C / Chapter 19 / Section 64.2-1909
Single and joint custodians
Status: in_force

A transfer may be made only for one minor, and up to two persons may be joint custodians. All custodial property held under this chapter by the same custodian or joint custodians for the benefit of the same minor constitutes a single custodianship. Unless otherwise specified in any document creating the custodial property, each joint custodian shall have full power and authority to act alone with respect to the custodial property. If either joint custodian resigns, dies, becomes incapacitated, or is removed, then the remaining joint custodian shall become sole custodian.

1988, c. 516, § 31-46; 2006, c. 657 ; 2012, c. 614 .
Va. Code Ann. § 64.2-2309 — Virginia Code / Title 64.2 / Subtitle V / Chapter 23 / Section 64.2-2309
Costs
Status: in_force

The costs attendant to the issuing of an order determining death or the revocation of such order shall be paid out of the estate of the presumed decedent. If the petition for the issuance or revocation of an order determining death is not granted, the costs shall be paid by the petitioner.

Code 1950, § 64-111; 1968, c. 656, § 64.1-115; 2006, c. 351 ; 2012, c. 614 .
Va. Code Ann. § 64.2-128 — Virginia Code / Title 64.2 / Subtitle I / Chapter 1 / Article 3.1 / Section 64.2-128
Disclosure of digital assets to conservator or guardian of protected person
Status: in_force

A. After an opportunity for a hearing under Chapter 20 (§ 64.2-2000 et seq.), the court may grant a conservator or guardian access to the digital assets of a protected person.

B. Unless otherwise ordered by the court or directed by the user, a custodian shall disclose to a conservator or guardian the catalog of electronic communications sent or received by a protected person and any digital assets, other than the content of electronic communications, in which the protected person has a right or interest if the conservator or guardian gives the custodian:

1. A written request for disclosure in physical or electronic form;

2. A certified copy of the court order that gives the conservator or guardian authority over the digital assets of the protected person; and

3. If requested by the custodian:

a. A number, username, address, or other unique subscriber or account identifier assigned by the custodian to identify the account of the protected person; or

b. Evidence linking the account to the protected person.

C. A conservator with general authority to manage the assets of a protected person or a guardian with specific authority granted by the court may request a custodian of the digital assets of the protected person to suspend or terminate an account of the protected person for good cause. A request made under this section shall be accompanied by a certified copy of the court order giving the conservator or guardian authority over the protected person's property.

2017, cc. 33 , 80 .
Va. Code Ann. § 64.2-2611 — Virginia Code / Title 64.2 / Subtitle V / Chapter 26 / Section 64.2-2611
When disclaimer barred or limited
Status: in_force

A. A disclaimer is barred by a written waiver of the right to disclaim.

B. A disclaimer of an interest in property is barred if any of the following events occur before the disclaimer becomes effective: (i) the disclaimant accepts the interest sought to be disclaimed; (ii) the disclaimant voluntarily assigns, conveys, encumbers, pledges, or transfers the interest sought to be disclaimed or contracts to do so; or (iii) a judicial sale of the interest sought to be disclaimed occurs.

C. A disclaimer, in whole or in part, of the future exercise of a power held in a fiduciary capacity is not barred by its previous exercise.

D. A disclaimer, in whole or in part, of the future exercise of a power not held in a fiduciary capacity is not barred by its previous exercise unless the power is exercisable in favor of the disclaimant.

E. A disclaimer is barred or limited if so provided by law other than this chapter.

F. A disclaimer of a power over property that is barred by this section is ineffective. A disclaimer of an interest in property that is barred by this section takes effect as a transfer of the interest disclaimed to the persons who would have taken the interest under this chapter had the disclaimer not been barred.

2003, c. 253 , § 64.1-196.12; 2012, c. 614 .
Va. Code Ann. § 64.2-1076 — Virginia Code / Title 64.2 / Subtitle III / Chapter 10.1 / Article 10 / Section 64.2-1076
Uniformity of application and construction
Status: in_force

In applying and construing this uniform act, consideration must be given to the need to promote uniformity of the law with respect to its subject matter among states that enact it.

2022, c. 354 .
Va. Code Ann. § 64.2-2733 — Virginia Code / Title 64.2 / Subtitle V / Chapter 27 / Article 4 / Section 64.2-2733
Power to contract; power of appointment not presently exercisable
Status: in_force

A powerholder of a power of appointment that is not presently exercisable may contract to exercise or not to exercise the power only if the powerholder:

1. Is also the donor of the power; and

2. Has reserved the power in a revocable trust.

2016, c. 266 .
Va. Code Ann. § 64.2-1216 — Virginia Code / Title 64.2 / Subtitle IV / Part A / Chapter 12 / Section 64.2-1216
Failure to account; enforcement
Status: in_force

A. If any fiduciary required to account fails to make a complete and proper account within the time allowed, the commissioner of accounts shall either (i) proceed against the fiduciary in accordance with the procedures set forth in § 64.2-1215 or (ii) file with the circuit court and the clerk at such times as the court shall order, but not less than twice a year, a list of all fiduciaries who have failed to make a complete and proper account within the time allowed, excepting those fiduciaries to whom the commissioner of accounts has granted additional time. Upon the filing of this list, the clerk shall issue a summons against each fiduciary on the list, returnable to the first day of the next term of court, and the court shall take action against the fiduciary in accordance with the procedures set forth in § 64.2-1215 .

B. Every commissioner of accounts shall file with the court and the clerk at such times as the court shall order, but not less than quarterly, a list of all fiduciaries whose accounts for any reason have been before the commissioner of accounts for more than five months. The commissioner of accounts shall note on the list the fiduciaries who are deemed delinquent.

C. Whenever the commissioner of accounts reports to the court that a fiduciary who is an attorney-at-law licensed to practice in the Commonwealth has failed to make the required settlement within 30 days after the date of service of a summons, the commissioner of accounts shall also mail a copy of his report to the Virginia State Bar.

Code 1919, § 5408; 1936, p. 250; 1946, p. 325; Code 1950, § 26-18; 1995, c. 653 ; 1997, c. 842 ; 1999, c. 378 ; 2012, c. 614 .
Va. Code Ann. § 64.2-1044 — Virginia Code / Title 64.2 / Subtitle III / Chapter 10.1 / Article 3 / Section 64.2-1044
Unitrust rate
Status: in_force

A. Except as otherwise provided in subdivision B 1 of § 64.2-1047 , a unitrust rate may be:

1. A fixed unitrust rate; or

2. A unitrust rate that is determined for each period using:

a. A market index or other published data; or

b. A mathematical blend of market indices or other published data over a stated number of preceding periods.

B. Except as otherwise provided in subdivision B 1 of § 64.2-1047 , a unitrust policy may provide:

1. A limit on how high the unitrust rate determined under subdivision A 2 may rise;

2. A limit on how low the unitrust rate determined under subdivision A 2 may fall;

3. A limit on how much the unitrust rate determined under subdivision A 2 may increase over the unitrust rate for the preceding period or a mathematical blend of unitrust rates over a stated number of preceding periods;

4. A limit on how much the unitrust rate determined under subdivision A 2 may decrease below the unitrust rate for the preceding period or a mathematical blend of unitrust rates over a stated number of preceding periods; or

5. A mathematical blend of any of the unitrust rates determined under subdivision A 2 and subdivisions B 1 through 4.

2022, c. 354 .
Va. Code Ann. § 64.2-779.31 — Virginia Code / Title 64.2 / Subtitle III / Chapter 7 / Article 8.2 / Section 64.2-779.31
Duty and liability of trust director
Status: in_force

A. Subject to subsection B, with respect to a power of direction or further power under subdivision B 1 of § 64.2-779.29 :

1. A trust director has the same fiduciary duty and liability in the exercise or nonexercise of the power:

a. If the power is held individually, as a sole trustee in a like position and under similar circumstances; or

b. If the power is held jointly with a trustee or another trust director, as a cotrustee in a like position and under similar circumstances; and

2. The terms of the trust may vary the trust director's duty or liability to the same extent the terms of the trust could vary the duty or liability of a trustee in a like position and under similar circumstances.

B. Unless the terms of a trust provide otherwise, if a trust director is licensed, certified, or otherwise authorized or permitted by law other than this article to provide health care in the ordinary course of the trust director's business or practice of a profession, to the extent the trust director acts in that capacity, the trust director has no duty or liability under this article.

C. The terms of a trust may impose a duty or liability on a trust director in addition to the duties and liabilities imposed under this section.

2020, c. 768 .
Va. Code Ann. § 64.2-1913 — Virginia Code / Title 64.2 / Subtitle IV / Part C / Chapter 19 / Section 64.2-1913
Use of custodial property
Status: in_force

A. A custodian may deliver or pay to the minor or expend for the minor's benefit so much of the custodial property as the custodian considers advisable for the use and benefit of the minor, without court order and without regard to (i) the duty or ability of the custodian personally or of any other person to support the minor or (ii) any other income or property of the minor which may be applicable or available for that purpose.

B. At any time a custodian may, without court order, transfer all or part of the custodial property to a qualified minor's trust. Such a transfer terminates the custodianship to the extent of the custodial property transferred.

C. On petition of an interested person or the minor if the minor has attained the age of 14 years, the court may order the custodian to deliver or pay to the minor or expend for the minor's benefit so much of the custodial property as the court considers advisable for the use and benefit of the minor.

D. A delivery, payment, or expenditure under this section is in addition to, not in substitution for, and does not affect any obligation of a person to support the minor.

1988, c. 516, § 31-50; 2007, c. 307 ; 2012, c. 614 .
Va. Code Ann. § 64.2-780 — Virginia Code / Title 64.2 / Subtitle III / Chapter 7 / Article 9 / Section 64.2-780
Definition of terms
Status: in_force

As used in this article:

"Controlling document" means the will, agreement, power of attorney, court order, or other instrument creating the fiduciary powers.

"Trust" includes the assets under the control or management of the trustee.

"Trustee" includes any fiduciary as defined in § 8.01-2 , an attorney-in-fact or agent acting for a principal under a written power of attorney, a custodian under § 64.2-1911 , and a custodial trustee under § 64.2-906 .

1999, c. 772 , § 26-45.13; 2007, c. 517 ; 2012, c. 614 .
Va. Code Ann. § 64.2-101 — Virginia Code / Title 64.2 / Subtitle I / Chapter 1 / Article 1 / Section 64.2-101
Construction of generic terms
Status: in_force

In the interpretation of wills and trusts, adopted persons and persons born out of wedlock are included in class gift terminology or terms of relationship in accordance with rules for determining relationships for purposes of intestate succession unless a contrary intent appears on the face of the will or trust. In determining the intent of a testator or settlor, adopted persons are presumptively included in such terms as "children," "issue," "kindred," "heirs," "relatives," "descendents" or similar words of classification and are presumptively excluded by such terms as "natural children," "issue of the body," "blood kindred," "heirs of the body," "blood relatives," "descendents of the body" or similar words of classification. In the event that a fiduciary makes payment to members of a class to the exclusion of persons born out of wedlock of whose claim of paternity or maternity the fiduciary has no knowledge, the fiduciary shall not be held liable to such persons for payments made prior to knowledge of such claim. This section shall apply to all inter vivos trusts executed after July 1, 1978, and to all wills of decedents dying after July 1, 1978, regardless of when executed.

1978, c. 647, § 64.1-71.1; 1987, c. 604; 2012, c. 614 .
Va. Code Ann. § 64.2-761 — Virginia Code / Title 64.2 / Subtitle III / Chapter 7 / Article 7 / Section 64.2-761
Compensation of trustee
Status: in_force

A. If the terms of a trust do not specify the trustee's compensation, a trustee is entitled to compensation that is reasonable under the circumstances.

B. If the terms of a trust specify the trustee's compensation, the trustee is entitled to be compensated as specified, but the court may allow more or less compensation if:

1. The duties of the trustee are substantially different from those contemplated when the trust was created; or

2. The compensation specified by the terms of the trust would be unreasonably low or high.

2005, c. 935 , § 55-547.08; 2012, c. 614 .
Va. Code Ann. § 64.2-732 — Virginia Code / Title 64.2 / Subtitle III / Chapter 7 / Article 4 / Section 64.2-732
Modification or termination of uneconomic trust
Status: in_force

A. After notice to the qualified beneficiaries, the trustee of a trust consisting of trust property having a total value less than $250,000 may terminate the trust without court approval if the trustee concludes that the value of the trust property is insufficient to justify the cost of administration. Notice required by this section shall be sent in accordance with § 64.2-707 .

B. The court may modify or terminate a trust or remove the trustee and appoint a different trustee if it determines that the value of the trust property is insufficient to justify the cost of administration.

C. Upon termination of a trust under this section, the trustee shall distribute the trust property in a manner consistent with the purposes of the trust and may simultaneously utilize the provisions of § 64.2-779 .

D. This section does not apply to an easement for conservation or preservation.

E. Expenses incurred by the trustee incident to the termination of a trust pursuant to this section shall be paid by the trust estate.

2005, c. 935 , § 55-544.14; 2012, c. 614 ; 2024, cc. 282 , 336 ; 2025, c. 148 .
Va. Code Ann. § 64.2-775 — Virginia Code / Title 64.2 / Subtitle III / Chapter 7 / Article 8 / Section 64.2-775
Duty to inform and report
Status: in_force

A. A trustee shall keep the qualified beneficiaries of the trust reasonably informed about the administration of the trust and of the material facts necessary for them to protect their interests. Unless unreasonable under the circumstances, a trustee shall promptly respond to a beneficiary's request for information related to the administration of the trust. A trustee who fails to furnish information to a beneficiary or respond to a request for information regarding the administration of the trust in a good faith belief that to do so would be unreasonable under the circumstances or contrary to the purposes of the settlor shall not be subject to removal or other sanctions therefor.

B. A trustee:

1. Upon request of a beneficiary, shall promptly furnish to the beneficiary a copy of the trust instrument;

2. Within 60 days after accepting a trusteeship, shall notify the qualified beneficiaries of the acceptance and of the trustee's name, address, and telephone number;

3. Within 60 days after the date the trustee acquires knowledge of the creation of an irrevocable trust, or the date the trustee acquires knowledge that a formerly revocable trust has become irrevocable, whether by the death of the settlor or otherwise, shall notify the qualified beneficiaries of the trust's existence, of the identity of the settlor or settlors, of the right to request a copy of the trust instrument, and of the right to a trustee's report as provided in subsection C; and

4. Shall notify the qualified beneficiaries in advance of any change in the method or rate of the trustee's compensation.

C. A trustee shall send to the distributees or permissible distributees of trust income or principal, and to other qualified or nonqualified beneficiaries who request it, at least annually and at the termination of the trust, a report of the trust property, liabilities, receipts, and disbursements, including the source and amount of the trustee's compensation, a listing of the trust assets and, if feasible, their respective market values. Upon a vacancy in a trusteeship, unless a cotrustee remains in office, a report shall be sent to the qualified beneficiaries by the former trustee. A personal representative, conservator, or guardian may send the qualified beneficiaries a report on behalf of a deceased or incapacitated trustee.

D. A beneficiary may waive the right to a trustee's report or other information otherwise required to be furnished under this section. A beneficiary, with respect to future reports and other information, may withdraw a waiver previously given.

E. Subdivisions B 2 and B 3 and subsection C apply only to an irrevocable trust created on or after the effective date of this chapter, and to a revocable trust that becomes irrevocable on or after the effective date of this chapter.

2005, c. 935 , § 55-548.13; 2007, c. 254 ; 2012, c. 614 .
Va. Code Ann. § 64.2-418 — Virginia Code / Title 64.2 / Subtitle II / Chapter 4 / Article 3 / Section 64.2-418
When children or descendants of beneficiary to take estate or trust
Status: in_force

A. For the purposes of this section, the terms "revocable," "settlor," "trust instrument," and "trustee" have the same meanings as provided in § 64.2-701 .

B. Unless a contrary intention appears in the will or trust instrument, if a beneficiary, including a beneficiary under a class gift, is (i) a grandparent or a descendant of a grandparent of the testator or settlor and (ii) dead at the time of execution of the will or trust instrument or dead at the time of the testator's or settlor's death, the descendants of the deceased beneficiary who survive the testator or settlor take in the place of the deceased beneficiary. The portion of the testator's estate or the trust that the deceased beneficiary was to take shall be divided into as many equal shares as there are (a) surviving descendants in the closest degree of kinship to the deceased beneficiary and (b) deceased descendants, if any, in the same degree of kinship to the deceased beneficiary who left descendants surviving at the time of the testator's or settlor's death. One share shall pass to each such surviving descendant and one share shall pass per stirpes to such descendants of deceased descendants.

C. This section applies to trusts and trust provisions only to the extent the trust instrument or provision is revocable immediately before the settlor's death on or after July 1, 2018, and the beneficiary would have taken by reason of the settlor's death if the beneficiary survived the settlor.

1985, c. 592, § 64.1-64.1; 2012, c. 614 ; 2018, c. 44 .
Va. Code Ann. § 64.2-402 — Virginia Code / Title 64.2 / Subtitle II / Chapter 4 / Article 1 / Section 64.2-402
Advertisements to draw wills prohibited; penalty
Status: in_force

Any person that advertises any direct or indirect offer to draw any will or have any will drawn is guilty of a Class 3 misdemeanor, provided that the provisions of this section shall not apply to a duly licensed attorney-at-law, partnership composed of duly licensed attorneys-at-law, or a professional corporation or professional limited liability company incorporated or organized for the practice of law so long as such attorney, partnership, or professional corporation conducts such advertisement in accordance with the Rules of Court promulgated by the Supreme Court of Virginia.

Code 1950, § 64-50; 1968, c. 656, § 64.1-48; 1979, c. 438; 1996, c. 265 ; 2012, c. 614 .
Va. Code Ann. § 64.2-2403 — Virginia Code / Title 64.2 / Subtitle V / Chapter 24 / Section 64.2-2403
Termination of conservatorship
Status: in_force

At any time upon petition of the absentee, or upon the petition of a duly constituted attorney-in-fact of the absentee, if the court is of the opinion that such power of attorney is valid, the court shall terminate the conservatorship and shall transfer all property held for such absentee to him, or to such attorney-in-fact. However, if the court finds that during the pendency of the conservatorship the absentee has died, and an administrator or executor has been appointed for the absentee's estate, the court shall order the conservator to settle the accounts of his transactions before the court and shall direct the payment or transfer of such estate then remaining to the administrator or executor.

1944, p. 362; Michie Suppl. 1946, § 5400d; Code 1950, § 26-70; 2012, c. 614 .
Va. Code Ann. § 64.2-910 — Virginia Code / Title 64.2 / Subtitle III / Chapter 9 / Section 64.2-910
Exemption of third person from liability
Status: in_force

A third person in good faith and without a court order may act on instructions of, or otherwise deal with, a person purporting to make a transfer as, or purporting to act in the capacity of, a custodial trustee. In the absence of knowledge to the contrary, the third person is not responsible for determining (i) the validity of the purported custodial trustee's designation, (ii) the propriety of, or the authority under this chapter for, any action of the purported custodial trustee, (iii) the validity or propriety of an instrument executed or instruction given pursuant to this chapter either by the person purporting to make a transfer or declaration or by the purported custodial trustee, or (iv) the propriety of the application of property vested in the purported custodial trustee.

1990, c. 264, § 55-34.11; 2012, c. 614 .
Va. Code Ann. § 64.2-503 — Virginia Code / Title 64.2 / Subtitle II / Chapter 5 / Article 1 / Section 64.2-503
Oath and bond of administrator of intestate estate
Status: in_force

An administrator of an intestate estate shall give bond and take an oath that the decedent has left no will, so far as he knows, and that he will faithfully perform the duties of his office to the best of his judgment. Such oath may be taken on behalf of a corporation by its president, a vice-president, secretary, treasurer, or trust officer.

Code 1950, § 64-115; 1968, c. 656, § 64.1-119; 2012, c. 614 .
Va. Code Ann. § 64.2-532 — Virginia Code / Title 64.2 / Subtitle II / Chapter 5 / Article 6 / Section 64.2-532
Real estate of decedent as assets for payment of debts
Status: in_force

If a decedent's personal estate is insufficient to satisfy the decedent's debts and lawful demands against his estate, all real estate of the decedent, including such real estate that remains after satisfying the debts with which the real estate was charged or was subject to under the decedent's will, are assets for the payment of the decedent's debts and all lawful demands against his estate. A decedent's real estate shall be applied to his debts and lawful demands against his estate in the same order that the personal estate of a decedent is applied pursuant to § 64.2-528 .

Code 1950, § 64-171; 1968, c. 656, § 64.1-181; 2012, c. 614 .
Va. Code Ann. § 64.2-2722 — Virginia Code / Title 64.2 / Subtitle V / Chapter 27 / Article 3 / Section 64.2-2722
Disposition of unappointed property under released or unexercised general power
Status: in_force

To the extent that a powerholder releases or fails to exercise a general power of appointment other than a power to withdraw property from, revoke, or amend a trust:

1. The gift-in-default clause controls the disposition of the unappointed property; or

2. If there is no gift-in-default clause or to the extent that the clause is ineffective:

a. Except as otherwise provided in subdivision 2 b, the unappointed property passes to:

(1) The powerholder if the powerholder is a permissible appointee and living; or

(2) If the powerholder is an impermissible appointee or deceased, the powerholder's estate if the estate is a permissible appointee; or

b. To the extent that the powerholder released the power, or if there is no taker under subdivision 2 a, the unappointed property passes under a reversionary interest to the donor or the donor's transferee or successor in interest.

2016, c. 266 .
Va. Code Ann. § 64.2-758 — Virginia Code / Title 64.2 / Subtitle III / Chapter 7 / Article 7 / Section 64.2-758
Resignation of trustee
Status: in_force

A. A trustee may resign:

1. Upon at least 30 days' notice to the settlor, if living, to all cotrustees, and to the qualified beneficiaries except those qualified beneficiaries under a revocable trust that the settlor has the capacity to revoke; or

2. With the approval of the court.

B. In approving a resignation, the court may issue orders and impose conditions reasonably necessary for the protection of the trust property.

C. Any liability of a resigning trustee or of any sureties on the trustee's bond for acts or omissions of the trustee is not discharged or affected by the trustee's resignation.

2005, c. 935 , § 55-547.05; 2012, c. 614 .
Va. Code Ann. § 64.2-1316 — Virginia Code / Title 64.2 / Subtitle IV / Part A / Chapter 13 / Section 64.2-1316
Settlement of fiduciary's accounts by commissioner in chancery; report to commissioner of accounts
Status: in_force

On the motion of any fiduciary having charge of an estate or any interested person, the circuit court may require a commissioner in chancery to settle the accounts of the fiduciary. In addition, a court may require a commissioner in chancery to settle the accounts of any of the fiduciaries mentioned in this chapter. A commissioner in chancery making a settlement under such order of a court shall report the fact and date of the settlement to the commissioner of accounts within 30 days, who shall make an entry of the same in his record book.

Code 1919, § 5415; Code 1950, § 26-25; 2012, c. 614 .
Va. Code Ann. § 64.2-1636 — Virginia Code / Title 64.2 / Subtitle IV / Part B / Chapter 16 / Article 2 / Section 64.2-1636
Retirement plans
Status: in_force

A. In this section, "retirement plan" means a plan or account created by an employer, the principal, or another individual to provide retirement benefits or deferred compensation of which the principal is a participant, beneficiary, or owner, including a plan or account under the following sections of the Internal Revenue Code:

1. An individual retirement account under Internal Revenue Code 26 U.S.C. § 408, as amended;

2. A Roth individual retirement account under Internal Revenue Code 26 U.S.C. § 408A, as amended;

3. A deemed individual retirement account under Internal Revenue Code 26 U.S.C. § 408 (q), as amended;

4. An annuity or mutual fund custodial account under Internal Revenue Code 26 U.S.C. § 403 (b), as amended;

5. A pension, profit-sharing, stock bonus, or other retirement plan qualified under Internal Revenue Code 26 U.S.C. § 401 (a), as amended;

6. A plan under Internal Revenue Code 26 U.S.C. § 457 (b), as amended; and

7. A nonqualified deferred compensation plan under Internal Revenue Code 26 U.S.C. § 409A, as amended.

B. Unless the power of attorney otherwise provides, language in a power of attorney granting general authority with respect to retirement plans authorizes the agent to:

1. Select the form and timing of payments under a retirement plan and withdraw benefits from a plan;

2. Make a rollover, including a direct trustee-to-trustee rollover, of benefits from one retirement plan to another;

3. Establish a retirement plan in the principal's name;

4. Make contributions to a retirement plan;

5. Exercise investment powers available under a retirement plan; and

6. Borrow from, sell assets to, or purchase assets from a retirement plan.

2010, cc. 455 , 632 , § 26-109; 2012, c. 614 .
Va. Code Ann. § 64.2-302 — Virginia Code / Title 64.2 / Subtitle II / Chapter 3 / Article 1 / Section 64.2-302
When and how elective share may be claimed by surviving spouse
Status: in_force

A. A surviving spouse may claim an elective share regardless of whether (i) any provision for the surviving spouse is made in the decedent's will or (ii) the decedent dies intestate.

B. The surviving spouse of a decedent who dies domiciled in the Commonwealth may claim an elective share in the decedent's augmented estate within six months from the later of (i) the time of the admission of the decedent's will to probate or (ii) the qualification of an administrator on the decedent's intestate estate. The claim to an elective share shall be made either in person before the court having jurisdiction over administration of the decedent's estate, or by a writing recorded in the court or the clerk's office thereof, upon such acknowledgment or proof as would authorize a writing to be admitted to record under Chapter 6 (§ 55.1-600 et seq.) of Title 55.1.

C. The right, if any, of the surviving spouse of a decedent who dies domiciled outside of the Commonwealth to take an elective share based upon the value of property in the Commonwealth is governed by the law of the decedent's domicile at death.

Code 1950, § 64-13; 1968, c. 656, § 64.1-13; 1990, c. 831; 1995, c. 211 ; 2012, c. 614 .
Va. Code Ann. § 64.2-2610 — Virginia Code / Title 64.2 / Subtitle V / Chapter 26 / Section 64.2-2610
Delivery or filing
Status: in_force

A. In this section, "beneficiary designation" means an instrument, other than an instrument creating a trust, naming the beneficiary of (i) an annuity or insurance policy; (ii) an account with a designation for payment on death; (iii) a security registered in beneficiary form; (iv) a pension, profit-sharing, retirement, or other employment-related benefit plan; or (v) any other nonprobate transfer at death.

B. Subject to subsections C through L, delivery of a disclaimer may be effected by personal delivery, first-class mail, or any other method likely to result in its receipt.

C. In the case of an interest created under the law of intestate succession or an interest created by will, other than an interest in a testamentary trust, (i) a disclaimer shall be delivered to the personal representative of the decedent's estate or (ii) if no personal representative is then serving, it shall be filed with a court having jurisdiction to appoint the personal representative.

D. In the case of an interest in a testamentary trust, (i) a disclaimer shall be delivered to the trustee then serving or, if no trustee is then serving, to the personal representative of the decedent's estate or (ii) if no personal representative is then serving, it shall be filed with a court having jurisdiction to enforce the trust.

E. In the case of an interest in an inter vivos trust, (i) a disclaimer shall be delivered to the trustee then serving; (ii) if no trustee is then serving, it shall be filed with a court having jurisdiction to enforce the trust; or (iii) if the disclaimer is made before the time the instrument creating the trust becomes irrevocable, it shall be delivered to the settlor of a revocable trust or the transferor of the interest.

F. In the case of an interest created by a beneficiary designation made before the time the designation becomes irrevocable, a disclaimer shall be delivered to the person making the beneficiary designation.

G. In the case of an interest created by a beneficiary designation made after the time the designation becomes irrevocable, a disclaimer shall be delivered to the person obligated to distribute the interest.

H. In the case of a disclaimer by a surviving holder of jointly held property, the disclaimer shall be delivered to the person to whom the disclaimed interest passes.

I. In the case of a disclaimer by an object or taker in default of exercise of a power of appointment at any time after the power was created, (i) the disclaimer shall be delivered to the holder of the power or to the fiduciary acting under the instrument that created the power or (ii) if no fiduciary is then serving, it shall be filed with a court having authority to appoint the fiduciary.

J. In the case of a disclaimer by an appointee of a nonfiduciary power of appointment, (i) the disclaimer shall be delivered to the holder, the personal representative of the holder's estate, or the fiduciary under the instrument that created the power or (ii) if no fiduciary is then serving, it shall be filed with a court having authority to appoint the fiduciary.

K. In the case of a disclaimer by a fiduciary of a power over a trust or estate, the disclaimer shall be delivered as provided in subsection C, D, or E, as if the power disclaimed were an interest in property.

L. In the case of a disclaimer of a power by an agent, the disclaimer shall be delivered to the principal or the principal's representative.

2003, c. 253 , § 64.1-196.11; 2012, c. 614 .
Va. Code Ann. § 64.2-805 — Virginia Code / Title 64.2 / Subtitle III / Chapter 7 / Article 11 / Section 64.2-805
Uniformity of application and construction
Status: in_force

In applying and construing this uniform act, consideration shall be given to the need to promote uniformity of the law with respect to its subject matter among states that enact it.

2005, c. 935 , § 55-551.01; 2012, c. 614 .
Va. Code Ann. § 64.2-779.26 — Virginia Code / Title 64.2 / Subtitle III / Chapter 7 / Article 8.2 / Section 64.2-779.26
Definitions
Status: in_force

As used in this article, unless the context requires a different meaning:

"Breach of trust" includes a violation by a trust director or trustee of a duty imposed on that trust director or trustee by the terms of the trust, this article, or law of the Commonwealth other than this article pertaining to trusts.

"Directed trust" means a trust for which the terms of the trust grant a power of direction.

2020, c. 768 .
Va. Code Ann. § 64.2-104 — Virginia Code / Title 64.2 / Subtitle I / Chapter 1 / Article 2 / Section 64.2-104
Incorporation by reference into a will, power of attorney, or trust instrument
Status: in_force

A. The following original documents may be incorporated by reference into a will, power of attorney, or trust instrument:

1. A letter or memorandum to the fiduciary or agent as to the interpretation of discretionary powers of distribution where the will, power of attorney, or trust instrument grants the fiduciary or agent the power to make distributions to beneficiaries in the discretion of the fiduciary or agent; and

2. A letter or memorandum stating the views or directions of the maker of the will, power of attorney, or trust instrument as to the exercise of discretion by the fiduciary or agent in making health care decisions for the maker.

B. No provision in the original document sought to be incorporated by reference under this section is enforceable if it contradicts or is inconsistent with a provision of the incorporating will, power of attorney, or trust instrument, including if it alters the possession or enjoyment of trust property or the income therefrom as directed in the trust instrument.

C. This section shall not prevent the incorporation by reference of any writing into any other writing that would otherwise be effective under § 64.2-400 or under any other law of incorporation by reference.

D. The maker shall sign and have notarized the documents referenced in subsection A and may prepare the documents before or after the execution of the will, power of attorney, or trust instrument.

2001, c. 369 , § 64.1-45.2; 2002, c. 119 ; 2012, c. 614 .
Va. Code Ann. § 64.2-1218 — Virginia Code / Title 64.2 / Subtitle IV / Part A / Chapter 12 / Section 64.2-1218
When fiduciaries personally liable for costs
Status: in_force

The costs of all proceedings against a fiduciary who fails without good cause to make the returns and exhibits required shall be paid by him personally, and he shall receive no allowance for the costs in the settlement of his accounts.

Code 1919, § 5413; Code 1950, § 26-23; 2012, c. 614 .
Va. Code Ann. § 64.2-1613 — Virginia Code / Title 64.2 / Subtitle IV / Part B / Chapter 16 / Article 1 / Section 64.2-1613
Exoneration of agent
Status: in_force

A provision in a power of attorney relieving an agent of liability for breach of duty is binding on the principal and the principal's successors in interest except to the extent the provision:

1. Relieves the agent of liability for breach of duty committed dishonestly, with an improper motive, or with reckless indifference to the purposes of the power of attorney or the best interest of the principal; or

2. Was inserted as a result of an abuse of a confidential or fiduciary relationship with the principal.

2010, cc. 455 , 632 , § 26-86; 2012, c. 614 .
Va. Code Ann. § 64.2-443 — Virginia Code / Title 64.2 / Subtitle II / Chapter 4 / Article 5 / Section 64.2-443
Jurisdiction of probate of wills
Status: in_force

A. The circuit courts shall have jurisdiction of the probate of wills. A will shall be offered for probate in the circuit court in the county or city wherein the decedent has a known place of residence; if he has no such known place of residence, then in a county or city wherein any real estate lies that is devised or owned by the decedent; and if there is no such real estate, then in the county or city wherein he dies or a county or city wherein he has estate.

B. Where any person has become, either voluntarily or involuntarily, a patient in a nursing home, convalescent home, or similar institution due to advanced age or impaired health, the place of legal residence of the person shall be rebuttably presumed to be the same as it was before he became a patient.

Code 1950, §§ 64-72, 64-72.1; 1966, c. 330; 1968, c. 656, §§ 64.1-75, 64.1-76; 2012, c. 614 .
Va. Code Ann. § 64.2-2402 — Virginia Code / Title 64.2 / Subtitle V / Chapter 24 / Section 64.2-2402
Proceedings to sell property of absentee after failure to locate heirs
Status: in_force

Any duly appointed conservator of the estate of a person who is known to be dead or who is presumed to be dead pursuant to Chapter 23 (§ 64.2-2300 et seq.), after making a diligent but unsuccessful effort to locate the heirs of such person for a period of at least two years after the person's death became known or presumed, may petition the court having jurisdiction over real property owned by the decedent for permission to sell such property. Proceedings under this section shall conform as nearly as practicable to proceedings relating to judicial sales of real property owned by an infant. The conservator shall account for the proceeds of the sale, and the net proceeds of the sale, after disbursement of costs, shall be conserved in such manner as the court deems proper.

1954, c. 387, § 26-68.1; 1996, cc. 675 , 684 ; 2012, c. 614 .
Va. Code Ann. § 64.2-903 — Virginia Code / Title 64.2 / Subtitle III / Chapter 9 / Section 64.2-903
Form and effect of receipt and acceptance by custodial trustee; jurisdiction
Status: in_force

A. Obligations of a custodial trustee, including the obligation to follow directions of the beneficiary, arise under this chapter upon the custodial trustee's acceptance, express or implied, of the custodial trust property.

B. The custodial trustee's acceptance may be evidenced by a writing stating in substance:

CUSTODIAL TRUSTEE'S RECEIPT AND ACCEPTANCE

I, ____________________ (name of custodial trustee), acknowledge receipt of the custodial trust property described below or in the attached instrument and accept the custodial trust as custodial trustee for ____________________ (name of beneficiary) under the Virginia Uniform Custodial Trust Act. I undertake to administer and distribute the custodial trust property pursuant to the Virginia Uniform Custodial Trust Act. My obligations as custodial trustee are subject to the directions of the beneficiary unless the beneficiary is designated as, is, or becomes incapacitated. The custodial trust property consists of ________________________________________.

Dated: ____________________

________________________________________ (signature of custodial trustee)

C. Upon accepting custodial trust property, a person designated as custodial trustee under this chapter is subject to personal jurisdiction of the court with respect to any matter relating to the custodial trust.

1990, c. 264, § 55-34.4; 2012, c. 614 .
Va. Code Ann. § 64.2-724 — Virginia Code / Title 64.2 / Subtitle III / Chapter 7 / Article 4 / Section 64.2-724
Creation of trust induced by fraud, duress, or undue influence
Status: in_force

A trust is void to the extent its creation was induced by fraud, duress, or undue influence.

2005, c. 935 , § 55-544.06; 2012, c. 614 .
Va. Code Ann. § 64.2-1077 — Virginia Code / Title 64.2 / Subtitle III / Chapter 10.1 / Article 10 / Section 64.2-1077
Relation to Electronic Signatures in Global and National Commerce Act
Status: in_force

This chapter modifies, limits, or supersedes the Electronic Signatures in Global and National Commerce Act, 15 U.S.C. § 7001 et seq., but does not modify, limit, or supersede § 101(c) of that act, 15 U.S.C. § 7001(c), or authorize electronic delivery of any of the notices described in § 103(b) of that act, 15 U.S.C. § 7003(b).

2022, c. 354 .
Va. Code Ann. § 64.2-1040 — Virginia Code / Title 64.2 / Subtitle III / Chapter 10.1 / Article 3 / Section 64.2-1040
Application; duties and remedies
Status: in_force

A. Except as otherwise provided in subsection B, this article applies to:

1. An income trust, unless the terms of the trust expressly prohibit use of this article by a specific reference to this article or an explicit expression of intent that net income not be calculated as a unitrust amount; and

2. An express unitrust, except to the extent the terms of the trust explicitly:

a. Prohibit use of this article by a specific reference to this article;

b. Prohibit conversion to an income trust; or

c. Limit changes to the method of calculating the unitrust amount.

B. This article does not apply to a trust described in § 170(f)(2)(B), 642(c)(5), 664(d), 2702(a)(3)(A)(ii) or (iii), or 2702(b) of the Internal Revenue Code of 1986, as amended.

C. An income trust to which this article applies under subdivision A 1 may be converted to a unitrust under this article regardless of the terms of the trust concerning distributions. Conversion to a unitrust under this article does not affect other terms of the trust concerning distributions of income or principal.

D. This article applies to an estate only to the extent a trust is a beneficiary of the estate. To the extent of the trust's interest in the estate, the estate may be administered as a unitrust, the administration of the estate as a unitrust may be discontinued, or the percentage or method used to calculate the unitrust amount may be changed, in the same manner as for a trust under this article.

E. This article does not create a duty to take or consider action under this article or to inform a beneficiary about the applicability of this article.

F A fiduciary that in good faith takes or fails to take an action under this article is not liable to a person affected by the action or inaction.

2022, c. 354 .
Va. Code Ann. § 64.2-2103 — Virginia Code / Title 64.2 / Subtitle IV / Part D / Chapter 21 / Article 1 / Section 64.2-2103
Cooperation between courts
Status: in_force

A. In a guardianship or protective proceeding in the Commonwealth, a court in the Commonwealth may request the appropriate court of another state to do any of the following:

1. Hold an evidentiary hearing;

2. Order a person in that state to produce evidence or give testimony pursuant to procedures of that state;

3. Order that an evaluation or assessment be made of the respondent;

4. Order any appropriate investigation of a person involved in a proceeding;

5. Forward to the court of the Commonwealth a certified copy of the transcript or other record of a hearing under subdivision 1 or any other proceeding, any evidence otherwise produced under subdivision 2, and any evaluation or assessment prepared in compliance with an order under subdivision 3 or 4;

6. Issue any order necessary to assure the appearance in the proceeding of a person whose presence is necessary for either court to make a determination, including the respondent or the incapacitated or protected person; and

7. Issue an order authorizing the release of medical, financial, criminal, or other relevant information in that state, including protected health information.

B. If a court of another state in which a guardianship or protective proceeding is pending requests assistance of the kind provided in subsection A, a court of the Commonwealth has jurisdiction for the limited purpose of granting the request or making reasonable efforts to comply with the request.

2011, c. 518 , § 37.2-1035; 2012, c. 614 .
Va. Code Ann. § 64.2-517 — Virginia Code / Title 64.2 / Subtitle II / Chapter 5 / Article 3 / Section 64.2-517
Exercise of discretionary powers by surviving executors or administrators with the will annexed
Status: in_force

A. When discretionary powers are conferred upon the executors under any will and some, but not all, of the executors die, resign, or become incapable of acting, the executors or executor remaining shall continue to exercise the discretionary powers conferred by the will, unless the will expressly provides that the discretionary powers cannot be exercised by fewer than all of the original executors named in the will.

B. When discretionary powers are conferred upon the executors under any will and all of the executors or the sole executor if only one is named in the will dies, resigns, or becomes incapable of acting, the administrator with the will annexed appointed by the court shall exercise the discretionary powers conferred by the will upon the original executors or executor, unless the will expressly provides that the discretionary powers can only be exercised by the executors or executor named in the will.

Code 1950, § 64-132; 1968, c. 656, § 64.1-142; 2012, c. 614 .
Va. Code Ann. § 64.2-537 — Virginia Code / Title 64.2 / Subtitle II / Chapter 5 / Article 6 / Section 64.2-537
Action to enforce claim of less than $100; notice
Status: in_force

No action may be brought pursuant to this article where the amount of the claim does not exceed $100, unless, at least 30 days before the action was filed, the person or estate that is liable has been given notice that such action would be brought if the amount of the claim was not paid within such time.

Code 1950, § 64-175; 1968, c. 656, § 64.1-186; 2012, c. 614 ; 2014, c. 532 .
Va. Code Ann. § 64.2-524 — Virginia Code / Title 64.2 / Subtitle II / Chapter 5 / Article 4 / Section 64.2-524
Validation of certain conveyances by foreign executor
Status: in_force

A. Every conveyance of real estate within the Commonwealth made prior to June 30, 1986, by the executor under a will that, prior to such sale, has been probated according to the laws of another state without the qualification of the executor in the Commonwealth, shall be as valid and effective to pass the title of such real estate as if the executor had qualified in the Commonwealth, provided that (i) the will under which the executor acted was duly executed according to the laws of the Commonwealth, (ii) the will confers upon the executor the power to convey the real estate, and (iii) an authenticated copy of such will has been admitted to probate in the Commonwealth in the county or city in which the real estate or any part thereof is located.

B. Notwithstanding any other provision of law, any conveyance of real estate within the Commonwealth made on or after June 30, 1986, by an executor described in subsection A or the trustee of a testamentary trust established in a will where the will, prior to such sale, has been probated according to the laws of another state shall, without the qualification of the executor or the testamentary trustee in the Commonwealth, be valid and effective to pass the title of such real estate provided that (i) the executor or testamentary trustee had duly qualified according to the laws of the state where the will was probated, (ii) the will under which the executor or testamentary trustee acted was duly executed according to the laws of the Commonwealth as a valid will and confers upon the executor or testamentary trustee the power to convey the real estate so conveyed, and (iii) an authenticated copy of such will has been admitted to probate in the Commonwealth in the county or city in which the real estate or any part thereof is situated.

Code 1950, §§ 64-139, 64-140; 1958, c. 558; 1960, c. 279; 1968, c. 656, §§ 64.1-149, 64.1-150; 1996, c. 93 ; 2012, cc. 61 , 614 .
Va. Code Ann. § 64.2-2024 — Virginia Code / Title 64.2 / Subtitle IV / Part D / Chapter 20 / Article 2 / Section 64.2-2024
Fiduciary to take possession of incapacitated person's estate; suits relative to estate; retaining estate for fiduciary's own debt
Status: in_force

Subject to any conditions or limitations set forth in the order appointing him, the fiduciary shall take possession of the incapacitated person's estate and may sue and be sued in respect to all claims or demands of every nature in favor of or against the incapacitated person and the incapacitated person's estate. The fiduciary shall have the same right of retaining for his own debt as an administrator would have.

Code 1950, § 37-147; 1968, c. 477, § 37.1-139; 1980, c. 582; 2005, c. 716 , § 37.2-1025; 2012, c. 614 .
Va. Code Ann. § 64.2-1108 — Virginia Code / Title 64.2 / Subtitle III / Chapter 11 / Section 64.2-1108
Uniformity of application and construction
Status: in_force

In applying and construing this uniform act, consideration shall be given to the need to promote uniformity of the law with respect to its subject matter among states that enact it.

1973, c. 167, § 55-268.9; 2008, c. 184 , § 55-268.20; 2012, c. 614 .
Va. Code Ann. § 64.2-206 — Virginia Code / Title 64.2 / Subtitle II / Chapter 2 / Section 64.2-206
Advancements brought into hotchpot
Status: in_force

When the descendant of a decedent receives any property as an advancement from the decedent during the decedent's lifetime or under the decedent's will, and the descendant, or any descendant of his, is also to receive a distribution of any portion of the decedent's intestate estate, real or personal, the advancement shall be brought into hotchpot with the intestate estate and the descendant is entitled to his proper portion of the entire intestate estate, including such advancement.

Code 1950, § 64-17; 1968, c. 656, § 64.1-17; 2012, c. 614 .
Va. Code Ann. § 64.2-2500 — Virginia Code / Title 64.2 / Subtitle V / Chapter 25 / Section 64.2-2500
Definitions
Status: in_force

As used in this chapter:

"Decedent" means any person whose life has been taken as a result of murder or voluntary manslaughter.

"Property" includes any real and personal property and any right or interest therein.

"Slayer" means any person (i) who is convicted of the murder or voluntary manslaughter of the decedent or, (ii) in the absence of such conviction, who is determined, whether before or after his death, by a court of appropriate jurisdiction by a preponderance of the evidence to have committed one of the offenses listed in clause (i) resulting in the death of the decedent. For the purposes of clause (ii), the party seeking to establish that a decedent was slain by such person shall have the burden of proof.

1981, c. 469, § 55-401; 1987, c. 498; 2008, cc. 822 , 830 ; 2012, c. 614 .
Va. Code Ann. § 64.2-806 — Virginia Code / Title 64.2 / Subtitle III / Chapter 7 / Article 11 / Section 64.2-806
Electronic records and signatures
Status: in_force

The provisions of this chapter governing the legal effect, validity, or enforceability of electronic records or electronic signatures, and of contracts formed or performed with the use of such records or signatures, conform to the requirements of § 102 of the Electronic Signatures in Global and National Commerce Act (15 U.S.C. § 7002) and supersede, modify, and limit the requirements of the Electronic Signatures in Global and National Commerce Act.

2005, c. 935 , § 55-551.02; 2012, c. 614 .
Va. Code Ann. § 64.2-1309 — Virginia Code / Title 64.2 / Subtitle IV / Part A / Chapter 13 / Section 64.2-1309
Accounts of sales under deeds of trust
Status: in_force

A. Within six months after the date of a sale made under any recorded deed of trust, mortgage, or assignment for benefit of creditors, other than under a decree, the trustee shall return an account of the sale to the commissioner of accounts of the circuit court where the instrument was first recorded. After recording any trustee's deed, the trustee shall promptly deliver to the commissioner of accounts a copy of the deed. The date of sale is the date specified in the notice of sale, or any postponement thereof, as required by subsection A of § 55.1-321 . The commissioner of accounts shall state, settle, and report to the court an account of the transactions of the trustee, which shall be recorded as other fiduciary reports. Any trustee failing to comply with this section shall forfeit his commissions on such sale, unless such commissions are allowed by the court.

B. If the commissioner of accounts of the court where an instrument was first recorded becomes aware that an account as required by this section has not been filed, the commissioner of accounts and the court shall proceed against the trustee and impose penalties in the same manner as set forth in § 64.2-1215 , unless the trustee is excused for sufficient reason. If after a deed of trust is given on land located in a county, and before a sale under the deed of trust, the land is taken within the limits of the incorporated city, the returns of the trustee and settlement of his accounts shall be before the commissioner of accounts of such city.

C. Whenever the commissioner of accounts reports to the court that a fiduciary who is an attorney-at-law licensed to practice in the Commonwealth has failed to make the required return within 30 days after the date of service of a summons, the commissioner of accounts shall also mail a copy of his report to the Virginia State Bar.

Code 1919, § 5404; 1946, p. 325; Code 1950, § 26-15; 1966, c. 333; 1980, c. 148; 1996, c. 681 ; 1997, c. 842 ; 1998, c. 610 ; 2003, c. 193 ; 2012, c. 614 .
Va. Code Ann. § 64.2-117 — Virginia Code / Title 64.2 / Subtitle I / Chapter 1 / Article 3.1 / Section 64.2-117
Applicability
Status: in_force

A. This article applies to:

1. A fiduciary acting under a will or power of attorney executed before, on, or after July 1, 2017;

2. A personal representative acting for a decedent who died before, on, or after July 1, 2017;

3. A conservatorship proceeding commenced before, on, or after July 1, 2017;

4. A guardianship proceeding commenced before, on, or after July 1, 2017; and

5. A trustee acting under a trust created before, on, or after July 1, 2017.

B. This article applies to a custodian if the user resides in the Commonwealth or resided in the Commonwealth at the time of the user's death.

C. This article does not apply to a digital asset of an employer used by an employee in the ordinary course of the employer's business.

2017, cc. 33 , 80 .
Va. Code Ann. § 64.2-100 — Virginia Code / Title 64.2 / Subtitle I / Chapter 1 / Article 1 / Section 64.2-100
Definitions
Status: in_force

As used in this title, unless the context otherwise requires:

"Bona fide purchaser" means a purchaser of property for value who has acted in the transaction in good faith. Notice of a seller's marital status, or notice of the existence of a premarital or marital agreement, does not affect the status of a bona fide purchaser. A "purchaser" is one who acquires property by sale, lease, discount, negotiation, mortgage, pledge, or lien or who otherwise deals with property in a voluntary transaction, other than a gift. A purchaser gives "value" for property acquired in return for a binding commitment to extend credit to the transferor or another as security for or in total or partial satisfaction of a pre-existing claim, or in return for any other consideration sufficient to support a simple contract.

"Fiduciary" includes a guardian, committee, trustee, executor, conservator, or personal representative.

"Personal representative" includes the executor under a will or the administrator of the estate of a decedent, the administrator of such estate with the will annexed, the administrator of such estate unadministered by a former representative, whether there is a will or not, any person who is under the order of a circuit court to take into his possession the estate of a decedent for administration, and every other curator of a decedent's estate, for or against whom suits may be brought for causes of action that accrued to or against the decedent.

"Trustee" means a trustee under a probated will or an inter vivos trust instrument.

"Will" includes any testament, codicil, exercise of a power of appointment by will or by a writing in the nature of a will, or any other testamentary disposition.

Code 1950, § 64-47; 1968, c. 656, § 64.1-45; 1992, cc. 617, 647, § 64.1-01; 2012, c. 614 .
Va. Code Ann. § 64.2-912 — Virginia Code / Title 64.2 / Subtitle III / Chapter 9 / Section 64.2-912
Declination, resignation, incapacity, death, or removal of custodial trustee; designation of successor
Status: in_force

A. Before accepting the custodial trust property, a person designated as custodial trustee may decline to serve by notifying the person who made the designation, the transferor, or the transferor's legal representative. If an event giving rise to a transfer has not occurred, the substitute custodial trustee designated under § 64.2-902 becomes the custodial trustee, or, if a substitute custodial trustee has not been designated, the person who made the designation may designate a substitute custodial trustee pursuant to § 64.2-902 . In other cases, the transferor or the transferor's legal representative may designate a substitute custodial trustee.

B. A custodial trustee who has accepted the custodial trust property may resign by (i) delivering written notice to a successor custodial trustee, if any, the beneficiary, and, if the beneficiary is incapacitated, to the beneficiary's conservator, if any, and (ii) transferring or registering, or recording an appropriate instrument relating to, the custodial trust property, in the name of, and delivering the records to, the successor custodial trustee.

C. If a custodial trustee or successor custodial trustee is ineligible, resigns, dies, or becomes incapacitated, the successor designated in accordance with the trust instrument or in accordance with § 64.2-902 becomes custodial trustee. If there is no effective provision for a successor, the beneficiary, if not incapacitated, may designate a successor custodial trustee. If the beneficiary is incapacitated, or fails to act within 90 days after the ineligibility, resignation, death, or incapacity of the custodial trustee, the beneficiary's conservator becomes successor custodial trustee. If the beneficiary does not have a conservator or the conservator fails to act, the resigning custodial trustee may designate a successor custodial trustee.

D. If a successor custodial trustee is not designated as provided in this section, the transferor, the legal representative of the transferor or of the custodial trustee, an adult member of the beneficiary's family, the guardian or conservator of the beneficiary, a person interested in the custodial trust property, or a person interested in the welfare of the beneficiary may petition the court to designate a successor custodial trustee.

E. A custodial trustee who declines to serve or resigns, or the legal representative of a deceased or incapacitated custodial trustee, as soon as practicable, shall put the custodial trust property and records in the possession and control of the successor custodial trustee. The successor custodial trustee may enforce the obligation to deliver custodial trust property and records and becomes responsible for each item as received.

F. A beneficiary, the beneficiary's conservator, an adult member of the beneficiary's family, a guardian of the beneficiary, a person interested in the custodial trust property, or a person interested in the welfare of the beneficiary may petition the court to remove the custodial trustee for cause and designate a successor custodial trustee, to require the custodial trustee to furnish a bond or other security for the faithful performance of fiduciary duties, or for other appropriate relief.

1990, c. 264, § 55-34.13; 1997, c. 80 ; 2012, c. 614 .
Va. Code Ann. § 64.2-301 — Virginia Code / Title 64.2 / Subtitle II / Chapter 3 / Article 1 / Section 64.2-301
Dower or curtesy abolished
Status: in_force

The interests of dower and curtesy are abolished. However, the abolition of dower and curtesy pursuant to this section shall not change or diminish the nature or right of (i) any dower or curtesy interest of a surviving spouse whose dower or curtesy vested prior to January 1, 1991, or (ii) a creditor or other interested third party in any real estate subject to a right of dower or curtesy.

The rights of all such parties, and the procedures for enforcing such rights, shall continue to be governed by the laws in force prior to January 1, 1991.

1990, c. 831, § 64.1-19.2; 2012, c. 614 .
Va. Code Ann. § 64.2-2104 — Virginia Code / Title 64.2 / Subtitle IV / Part D / Chapter 21 / Article 1 / Section 64.2-2104
Taking testimony in another state
Status: in_force

A. In a guardianship or protective proceeding, in addition to other procedures that may be available, testimony of a witness who is located in another state may be offered by deposition or other means allowable in the Commonwealth for testimony taken in another state. The court on its own motion may order that the testimony of a witness be taken in another state and may prescribe the manner in which and the terms upon which the testimony is to be taken.

B. In a guardianship or protective proceeding, a court in the Commonwealth may permit a witness located in another state to be deposed or to testify by telephone or audiovisual or other electronic means. A court in the Commonwealth shall cooperate with the court of the other state in designating an appropriate location for the deposition or testimony.

C. Documentary evidence transmitted from another state to a court of the Commonwealth by technological means that do not produce an original writing may not be excluded from evidence on an objection based on the best evidence rule.

2011, c. 518 , § 37.2-1036; 2012, c. 614 .