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1999 SESSION

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HB 1998 Wills, estates and trusts.

Introduced by: William J. Howell | all patrons    ...    notes | add to my profiles | history

SUMMARY AS ENACTED WITH GOVERNOR'S RECOMMENDATION:

Grant powers of fiduciaries, venue. Establishes venue for a motion by a personal representative or trustee for grant of certain powers of fiduciaries pursuant to § 64.1-57. The venue provided is the circuit court for the jurisdiction in which the grantor resides or resided at the time of his death, where a trustee resides, or where a corporate trustee has an office.

SUMMARY AS PASSED:

Grant powers of fiduciaries, venue. Establishes venue for a motion by a personal representative or trustee for grant of certain powers of fiduciaries pursuant to § 64.1-57. The venue provided is the circuit court for the jurisdiction in which the grantor resides or resided at the time of his death, where a trustee resides, or where a corporate trustee has an office.

SUMMARY AS PASSED HOUSE:

Wills, estates and trusts. Expands the provisions granting "§ 64.1-57 powers" to allow the circuit court to grant such powers to trustees of intervivos trusts. Currently the authority is applicable only to trustees of testamentary trusts. The revision includes establishing a venue for a motion by an intervivos trustee for grant of such authority. The venue provided is the circuit court for the jurisdiction in which the grantor resides or resided at the time of his death, where a trustee resides, or where a corporate trustee has an office.

SUMMARY AS INTRODUCED:

Wills, estates and trusts. Expands the provisions granting "§ 64.1-57 powers" to allow the circuit court to grant such powers to trustees of intervivos trusts. Currently the authority is applicable only to trustees of testamentary trusts. The revision includes establishing a venue for a motion by an intervivos trustee for grant of such authority. The venue provided is the circuit court for the jurisdiction in which the grantor resides or resided at the time of his death, where a trustee resides, or where a corporate trustee has its registered office.