2011 SESSION

Convened January 12, 2011 -

FIDUCIARIES GENERALLY

(P) Passed (F) Failed (V) Vetoed (I) Incoporated into other legislation

(C) Carried over from 2010 Session (CD) Carried over but died in committee on or before 12/2/2010

Disabled individuals; taxation of trusts established therefor. Amending §§ 58.1-322 and 58.1-360. (Patron-Filler-Corn, HB 1880 (F); Marsden, SB 1175 (F))

Foreclosure procedures; assignment of deed of trust. Amending §§ 26-15, 55-59.1, and 55-66.01; adding §§ 55-59.5 and 55-59.6. (Patron-Marshall, R.G., HB 1506 (F); Marshall, R.G., HB 2473 (F))

Foreclosure procedures; makes various changes to procedures. Amending §§ 26-15, 55-58.1, 55-59, 55-59.1, 59.1-199, and 59.1-200; adding §§ 55-59.5 and 55-59.6. (Patron-McEachin, SB 795 (F))

Inter vivos qualified terminable interest property trusts; donor spouse who establishes trust for his spouse shall not have trust property included in donor spouse’s estate for estate tax purposes. Amending § 55-545.05. (Patron-Edwards, SB 1072 (Chapter 354))

Irrevocable trusts; trustee’s power to appoint assets into second trust. Adding § 55-548.16:1. (Patron-Edwards, SB 1071 (F))

Land trusts; when trustee named in deed is unable to serve, beneficiaries shall name a successor trustee. Amending § 55-17.1. (Patron-Barlow, HB 2133 (Chapter 661))

Notice of foreclosure; written notice shall be sent to present owner of property at least 30 days before any proposed sale in execution of a deed of trust. Amending §§ 26-15 and 55-59.1. (Patron-Petersen, SB 836 (F))

Out-of-state trust institutions; any national bank to serve as trustee, etc., without establishing or maintaining an office in State. Amending §§ 6.2-1001 and 6.2-1014. (Patron-Hugo, HB 2366 (Chapter 67))

Uniform Adult Guardianship and Protective Proceedings Jurisdiction Act; established. Amending §§ 24.2-410, 26-30, 26-59, 37.2-1001, and 37.2-1014; adding §§ 37.2-1030 through 37.2-1052. (Patron-Howell, SB 750 (Chapter 518))

Wills and trusts; formula clauses referring to federal estate and generation-skipping transfer tax laws. Amending § 64.1-62.4. (Patron-Edwards, SB 1423 (Chapter 679))