Source: https://vacode.org/64.2-700/
Timestamp: 2019-10-20 06:51:07
Document Index: 751272527

Matched Legal Cases: ['§ 64', '§ 64', '§ 64', '§ 64', '§ 64', '§ 55', '§ 64', '§ 64', '§ 64', '§ 64']

Scope (§ 64.2-700)—Virginia Decoded - Virginia Decoded
Next →64.2-701 Definitions
1 General Provisions And Definitions.
§ 64.2-700 Scope
§ 64.2-700
A. This chapter applies to express inter vivos trusts, charitable or noncharitable, and trusts created pursuant to a statute, judgment, or decree that requires the trust to be administered in the manner of an express trust. This chapter also applies to testamentary trusts, except to the extent that specific provision is made for them in Part A (§ 64.2-1200 et seq.) of Subtitle IV or elsewhere in the Code of Virginia, or to the extent it is clearly inapplicable to them. Section 64.2-775, which provides the duties of a trustee to inform and report to the trust’s beneficiaries, shall apply to testamentary trusts. For purposes of this subsection, the word “trust” and the words “trustee” or “fiduciary,” as used in Part A (§ 64.2-1200 et seq.) of Subtitle IV, shall be deemed to refer to testamentary trusts and testamentary trustees, except to the extent that the use of such words is clearly inapplicable to testamentary trusts and testamentary trustees. This chapter shall not apply to:
2. A trust that is used primarily for employment including trusts created for paying salaries, wages, pensions, or employee benefits of any kind.
2005, c. 935, § 55-541.02; 2012, c. 614.
If you’re reading this for anything important, you should double-check its accuracy—read § 64.2-700 on the official Code of Virginia website.
§ 64.2-1208 Expenses and commissions allowed fiduciaries
§ 64.2-1407 Who to execute the trust until new trustee appointed
§ 64.2-1416 Liability of fiduciary for actions of cofiduciary