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2018 SESSION

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SB 78 Trust decanting; authorized fiduciary.

Introduced by: John S. Edwards | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Trust decanting; authorized fiduciary. Reinstates the restriction in Virginia's former trust decanting law that limits the type of fiduciary who may exercise the decanting power to a disinterested trustee. The bill also reinstates the former provisions that state that the decanting power may be exercised by a majority of the authorized fiduciaries and that the court has the power to appoint a special fiduciary to exercise the decanting power. The bill contains an emergency clause.


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