Except as otherwise provided in the terms of a trust or this chapter, this chapter applies when the Commonwealth is the principal place of administration of a trust or estate or the situs of property that is not held in a trust or estate and is subject to a life estate or other term interest described in subdivision 2 of § 64.2-1034. By accepting the trusteeship of a trust having its principal place of administration in the Commonwealth or by moving the principal place of administration of a trust to the Commonwealth, the trustee submits to the application of this chapter to any matter within the scope of this chapter involving the trust.
2022, c. 354.
Structure Code of Virginia
Title 64.2 - Wills, Trusts, and Fiduciaries
Chapter 10.1 - Uniform Fiduciary Income and Principal Act
§ 64.2-1036. Fiduciary duties; general principles
§ 64.2-1037. Judicial review of exercise of discretionary power; request for instruction
§ 64.2-1038. Fiduciary's power to adjust
§ 64.2-1040. Application; duties and remedies
§ 64.2-1041. Authority of fiduciary
§ 64.2-1047. Special tax benefits; other rules
§ 64.2-1048. Character of receipts from entity
§ 64.2-1049. Distribution from trust or estate
§ 64.2-1050. Business or other activity conducted by fiduciary
§ 64.2-1051. Principal receipts
§ 64.2-1053. Receipt on obligation to be paid in money
§ 64.2-1054. Insurance policy or contract
§ 64.2-1055. Insubstantial allocation not required
§ 64.2-1056. Deferred compensation, annuity, or similar payment
§ 64.2-1057. Liquidating asset
§ 64.2-1058. Minerals, water, and other natural resources
§ 64.2-1060. Marital deduction property not productive of income
§ 64.2-1061. Derivative or option
§ 64.2-1062. Asset-backed security
§ 64.2-1063. Other financial instrument or arrangement
§ 64.2-1064. Disbursement from income
§ 64.2-1065. Disbursement from principal
§ 64.2-1066. Transfer from income to principal for depreciation
§ 64.2-1067. Reimbursement of income from principal
§ 64.2-1068. Reimbursement of principal from income
§ 64.2-1070. Adjustment between income and principal because of taxes
§ 64.2-1071. Determination and distribution of net income
§ 64.2-1072. Distribution to successor beneficiary
§ 64.2-1073. When right to income begins and ends
§ 64.2-1075. Apportionment when income interest ends
§ 64.2-1076. Uniformity of application and construction
§ 64.2-1077. Relation to Electronic Signatures in Global and National Commerce Act