A. Unless a contrary intent is expressed in or to be implied from a will or trust: (i) interest on a pecuniary legacy begins to run at the expiration of one year after the date of the death of the testator and (ii) interest on a pecuniary amount from a trust begins to run at the expiration of one year after the date on which the beneficiary is entitled to receive the pecuniary amount.
B. For the purposes of this section, a marital formula pecuniary bequest either outright to the testator's spouse or in trust for the benefit of such spouse, designed in either case to qualify for the benefit of the marital deduction allowed by the Internal Revenue Code, shall not be considered a pecuniary legacy entitled to interest at the expiration of one year after the death of the testator but, instead, shall share ratably with the residue of the estate in the income earned by the estate during the period of administration, unless a contrary intent is expressed in the will.
Code 1950, § 64-68; 1968, c. 656, § 64.1-68; 1999, c. 975; 2012, c. 614.
Structure Code of Virginia
Title 64.2 - Wills, Trusts, and Fiduciaries
§ 64.2-401. Who may make a will; what estate may be disposed of
§ 64.2-402. Advertisements to draw wills prohibited; penalty
§ 64.2-403. Execution of wills; requirements
§ 64.2-404. Writings intended as wills
§ 64.2-404.1. Reformation of will to correct mistakes or achieve decedent's tax objectives
§ 64.2-405. Interested persons as competent witnesses
§ 64.2-407. Will of personal estate of nonresidents
§ 64.2-409. Wills of living persons lodged for safekeeping with clerks of certain courts
§ 64.2-410. Revocation of wills generally
§ 64.2-411. Revival of wills after revocation
§ 64.2-413. Effect of subsequent conveyance on will
§ 64.2-414. When wills deemed to speak
§ 64.2-416. Devises, bequests, and distributions that fail; how to pass
§ 64.2-417. When advancement deemed satisfaction of devise or bequest
§ 64.2-418. When children or descendants of beneficiary to take estate or trust
§ 64.2-419. Provision for omitted children when no child living when will made
§ 64.2-420. Provision for omitted children when child living when will made
§ 64.2-421. Construction of certain conditions of spouse's survivorship
§ 64.2-422. When omitted spouse to take intestate portion
§ 64.2-424. When direction to purchase annuity binding on legatee
§ 64.2-425. Interest on pecuniary legacies
§ 64.2-427. Testamentary additions to trusts by testator dying after June 30, 1999
§ 64.2-436. Other points of form
§ 64.2-438. Effect of certificate
§ 64.2-440. Source and construction
§ 64.2-442. International will information registration
§ 64.2-443. Jurisdiction of probate of wills
§ 64.2-444. Clerks may probate wills
§ 64.2-445. Appeal from order of clerk
§ 64.2-446. Motion for probate; process against persons interested in probate
§ 64.2-447. Use of depositions
§ 64.2-448. Complaint to impeach or establish a will; limitation of action; venue
§ 64.2-449. Procedure in probate proceedings
§ 64.2-450. Probate of copy of will proved outside the Commonwealth; authenticated copy
§ 64.2-451. Appointment of curator; when made; his duties
§ 64.2-452. How will may be made self-proved; affidavits of witnesses
§ 64.2-453. How will may be made self-proved; acknowledgment of witnesses
§ 64.2-454.1. Will contest; presumption of undue influence
§ 64.2-455. Wills to be recorded; recording copies; effect; transfer to the Library of Virginia
§ 64.2-456. Bona fide purchaser of real estate without notice of devise protected
§ 64.2-457. Bona fide purchaser of real estate without notice of devise protected; later will
§ 64.2-458. Bona fide purchaser of real estate without notice of devise protected; intestacy