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.
Structure Code of Virginia
Title 64.2 - Wills, Trusts, and Fiduciaries
Chapter 7 - Uniform Trust Code
§ 64.2-703. Default and mandatory rules
§ 64.2-704. Common law of trusts; principles of equity
§ 64.2-706. Principal place of administration
§ 64.2-707. Methods and waiver of notice
§ 64.2-708. Others treated as qualified beneficiaries
§ 64.2-709. Nonjudicial settlement agreements
§ 64.2-710. Role of court in administration of trust
§ 64.2-711. Jurisdiction over trustee and beneficiary
§ 64.2-712. Proceedings to appoint or remove trustees
§ 64.2-713. Pleadings; parties; orders; notice
§ 64.2-714. Representation; basic effect
§ 64.2-715. Representation by holder of general testamentary power of appointment
§ 64.2-716. Representation by fiduciaries and parents or other ancestors
§ 64.2-717. Representation by person having substantially identical interest
§ 64.2-718. Appointment of representative
§ 64.2-719. Methods of creating trust
§ 64.2-720. Requirements for creation
§ 64.2-721. Trusts created in other jurisdictions
§ 64.2-723. Charitable purposes; enforcement
§ 64.2-724. Creation of trust induced by fraud, duress, or undue influence
§ 64.2-725. Evidence of oral trust
§ 64.2-726. Trust for care of animal
§ 64.2-727. Noncharitable trust without ascertainable beneficiary
§ 64.2-728. Modification or termination of trust; proceedings for approval or disapproval
§ 64.2-729. Modification or termination of noncharitable irrevocable trust by consent
§ 64.2-732. Modification or termination of uneconomic trust
§ 64.2-733. Reformation to correct mistakes
§ 64.2-734. Modification to achieve settlor's tax objectives
§ 64.2-735. Combination and division of trusts
§ 64.2-738. Prohibitions as to trust that is deemed a split-interest trust
§ 64.2-739. Application of §§ 64.2-737 and 64.2-738
§ 64.2-740. Interpretation of references to Internal Revenue Code in §§ 64.2-736 through 64.2-739
§ 64.2-741. Powers of courts not impaired by §§ 64.2-736 through 64.2-740
§ 64.2-742. Rights of beneficiary's creditor or assignee
§ 64.2-743. Spendthrift provision
§ 64.2-744. Exceptions to spendthrift provision
§ 64.2-745. Certain claims for reimbursement for public assistance
§ 64.2-745.1. Self-settled spendthrift trusts
§ 64.2-745.2. Definitions; vacancies; right to withdraw
§ 64.2-746. Discretionary trusts; effect of standard
§ 64.2-747. Creditor's claim against settlor
§ 64.2-748. Overdue distribution
§ 64.2-749. Personal obligations of trustee
§ 64.2-750. Capacity of settlor of revocable trust
§ 64.2-751. Revocation or amendment of revocable trust
§ 64.2-752. Settlor's powers; powers of withdrawal
§ 64.2-754. Accepting or declining trusteeship
§ 64.2-757. Vacancy in trusteeship; appointment of successor
§ 64.2-758. Resignation of trustee
§ 64.2-759. Removal of trustee
§ 64.2-760. Delivery of property by former trustee
§ 64.2-761. Compensation of trustee
§ 64.2-762. Reimbursement of expenses
§ 64.2-763. Duty to administer trust and invest
§ 64.2-766. Prudent administration
§ 64.2-767. Costs of administration
§ 64.2-769. Delegation by trustee
§ 64.2-771. Control and protection of trust property
§ 64.2-772. Recordkeeping and identification of trust property
§ 64.2-773. Enforcement and defense of claims
§ 64.2-774. Collecting trust property
§ 64.2-775. Duty to inform and report
§ 64.2-776. Discretionary powers; tax savings
§ 64.2-777. General powers of trustee
§ 64.2-778. Specific powers of trustee
§ 64.2-779. Distribution upon termination
§ 64.2-779.3. Application; governing law
§ 64.2-779.4. Reasonable reliance
§ 64.2-779.5. Notice; exercise of decanting power
§ 64.2-779.6. Court involvement
§ 64.2-779.8. Decanting power under expanded distributive discretion
§ 64.2-779.9. Decanting power under limited distributive discretion
§ 64.2-779.10. Trust for beneficiary with disability
§ 64.2-779.11. Protection of charitable interest
§ 64.2-779.12. Trust limitation on decanting
§ 64.2-779.13. Change in compensation
§ 64.2-779.14. Relief from liability and indemnification
§ 64.2-779.15. Removal or replacement of authorized fiduciary
§ 64.2-779.16. Tax-related provisions
§ 64.2-779.17. Duration of second trust
§ 64.2-779.18. Need to distribute not required
§ 64.2-779.19. Savings provision
§ 64.2-779.20. Trust for care of animal
§ 64.2-779.21. Terms of second trust
§ 64.2-779.23. Later-discovered property
§ 64.2-779.29. Powers of trust director
§ 64.2-779.30. Limitations on trust director
§ 64.2-779.31. Duty and liability of trust director
§ 64.2-779.32. Duty and liability of directed trustee
§ 64.2-779.33. Duty to provide information to trust director or trustee
§ 64.2-779.34. No duty to monitor, inform, or advise
§ 64.2-779.35. Limitation of action against trust director
§ 64.2-779.36. Defenses in action against trust director
§ 64.2-779.37. Jurisdiction over trust director
§ 64.2-779.38. Office of trust director
§ 64.2-780. Definition of terms
§ 64.2-781. Prudent investor rule
§ 64.2-782. Standard of care; portfolio strategy; risk and return objectives
§ 64.2-783. Diversification by trustee
§ 64.2-784. Duties at inception of trusteeship
§ 64.2-785. Loyalty and impartiality
§ 64.2-787. Reviewing compliance
§ 64.2-788. Delegation of investment and management functions
§ 64.2-789. Language invoking standard of article
§ 64.2-790. Application to existing trusts
§ 64.2-791. Uniformity of application and construction
§ 64.2-792. Remedies for breach of trust
§ 64.2-793. Damages for breach of trust
§ 64.2-794. Damages in absence of breach
§ 64.2-795. Attorney fees and costs
§ 64.2-796. Limitation of action against trustee
§ 64.2-797. Reliance on trust instrument
§ 64.2-798. Event affecting administration or distribution
§ 64.2-799. Exculpation of trustee
§ 64.2-800. Beneficiary's consent, release, or ratification
§ 64.2-801. Limitation on personal liability of trustee
§ 64.2-802. Interest as general partner
§ 64.2-803. Protection of person dealing with trustee
§ 64.2-804. Certification of trust
§ 64.2-805. Uniformity of application and construction