{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/64.2-1064.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/64.2-1064.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/64.2-1064.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/64.2-1064.html"}],"law_id":66204,"edition_id":1,"section_id":66204,"structure_id":16288,"section_number":"64.2-1064","catch_line":"Disbursement from income","history":"2022, c. 354.","full_text":"Subject to \u00a7 64.2-1067, and except as otherwise provided in subdivision C 2 or 3 of \u00a7 64.2-1071, a fiduciary shall disburse from income:\n\n1\n\nOne-half of:\n\t\t\ta. The regular compensation of the fiduciary and any person providing investment advisory, custodial, or other services to the fiduciary, to the extent income is sufficient; and\n\t\t\tb. An expense for an accounting, judicial or nonjudicial proceeding, or other matter that involves both income and successive interests, to the extent income is sufficient;2\n\nThe balance of the disbursements described in subdivision 1, to the extent a fiduciary that is an independent person determines that making those disbursements from income would be in the interests of the beneficiaries;3\n\nAnother ordinary expense incurred in connection with administration, management, or preservation of property and distribution of income, including interest, an ordinary repair, regularly recurring tax assessed against principal, and an expense of an accounting, judicial or nonjudicial proceeding, or other matter that involves primarily an income interest, to the extent income is sufficient; and4\n\nA premium on insurance covering loss of a principal asset or income from or use of the asset.","order_by":null,"text":{"0":{"id":240471,"text":"Subject to \u00a7 64.2-1067, and except as otherwise provided in subdivision C 2 or 3 of \u00a7 64.2-1071, a fiduciary shall disburse from income:","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1,"next_prefix":"1"},"1":{"id":240472,"text":"One-half of:\n\t\t\ta. The regular compensation of the fiduciary and any person providing investment advisory, custodial, or other services to the fiduciary, to the extent income is sufficient; and\n\t\t\tb. An expense for an accounting, judicial or nonjudicial proceeding, or other matter that involves both income and successive interests, to the extent income is sufficient;","type":"section","prefixes":["1"],"prefix":"1","entire_prefix":"1","prefix_anchor":"1","level":1,"prior_prefix":"","next_prefix":"2"},"2":{"id":240473,"text":"The balance of the disbursements described in subdivision 1, to the extent a fiduciary that is an independent person determines that making those disbursements from income would be in the interests of the beneficiaries;","type":"section","prefixes":["2"],"prefix":"2","entire_prefix":"2","prefix_anchor":"2","level":1,"prior_prefix":"1","next_prefix":"3"},"3":{"id":240474,"text":"Another ordinary expense incurred in connection with administration, management, or preservation of property and distribution of income, including interest, an ordinary repair, regularly recurring tax assessed against principal, and an expense of an accounting, judicial or nonjudicial proceeding, or other matter that involves primarily an income interest, to the extent income is sufficient; and","type":"section","prefixes":["3"],"prefix":"3","entire_prefix":"3","prefix_anchor":"3","level":1,"prior_prefix":"2","next_prefix":"4"},"4":{"id":240475,"text":"A premium on insurance covering loss of a principal asset or income from or use of the asset.","type":"section","prefixes":["4"],"prefix":"4","entire_prefix":"4","prefix_anchor":"4","level":1,"prior_prefix":"3"}},"ancestry":[{"id":16288,"edition_id":1,"name":"Allocation of Disbursements","identifier":"7","label":"article","depth":4,"order_by":1,"parent_id":13478,"metadata":{},"date_created":"2026-06-26 04:12:38","date_modified":"2026-06-26 04:12:38","permalink":{"id":274015,"object_type":"structure","relational_id":16288,"identifier":"7","token":"64.2\/III\/10.1\/7","url":"\/64.2\/III\/10.1\/7\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13478,"edition_id":1,"name":"Uniform Fiduciary Income And Principal Act","identifier":"10.1","label":"chapter","depth":3,"order_by":1,"parent_id":12724,"metadata":{},"date_created":"2026-06-26 03:44:58","date_modified":"2026-06-26 03:44:58","permalink":{"id":273863,"object_type":"structure","relational_id":13478,"identifier":"10.1","token":"64.2\/III\/10.1","url":"\/64.2\/III\/10.1\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12724,"edition_id":1,"name":"Trusts","identifier":"III","label":"subtitle","depth":2,"order_by":1,"parent_id":12723,"metadata":{},"date_created":"2026-06-26 03:43:50","date_modified":"2026-06-26 03:43:50","permalink":{"id":273811,"object_type":"structure","relational_id":12724,"identifier":"III","token":"64.2\/III","url":"\/64.2\/III\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12723,"edition_id":1,"name":"Wills, Trusts, and Fiduciaries","identifier":"64.2","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:50","date_modified":"2026-06-26 03:43:50","permalink":{"id":272781,"object_type":"structure","relational_id":12723,"identifier":"64.2","token":"64.2","url":"\/64.2\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":66204,"structure_id":16288,"section_number":"64.2-1064","catch_line":"Disbursement from income","url":"\/64.2-1064\/","token":"64.2\/III\/10.1\/7\/64.2-1064","metadata":false},{"id":68322,"structure_id":16288,"section_number":"64.2-1065","catch_line":"Disbursement from principal","url":"\/64.2-1065\/","token":"64.2\/III\/10.1\/7\/64.2-1065","metadata":false},{"id":85159,"structure_id":16288,"section_number":"64.2-1066","catch_line":"Transfer from income to principal for depreciation","url":"\/64.2-1066\/","token":"64.2\/III\/10.1\/7\/64.2-1066","metadata":false},{"id":66661,"structure_id":16288,"section_number":"64.2-1067","catch_line":"Reimbursement of income from principal","url":"\/64.2-1067\/","token":"64.2\/III\/10.1\/7\/64.2-1067","metadata":false},{"id":83008,"structure_id":16288,"section_number":"64.2-1068","catch_line":"Reimbursement of principal from income","url":"\/64.2-1068\/","token":"64.2\/III\/10.1\/7\/64.2-1068","metadata":false},{"id":77952,"structure_id":16288,"section_number":"64.2-1069","catch_line":"Income taxes","url":"\/64.2-1069\/","token":"64.2\/III\/10.1\/7\/64.2-1069","metadata":false},{"id":85750,"structure_id":16288,"section_number":"64.2-1070","catch_line":"Adjustment between income and principal because of taxes","url":"\/64.2-1070\/","token":"64.2\/III\/10.1\/7\/64.2-1070","metadata":false}],"next_section":{"id":68322,"structure_id":16288,"section_number":"64.2-1065","catch_line":"Disbursement from principal","url":"\/64.2-1065\/","token":"64.2\/III\/10.1\/7\/64.2-1065","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/64.2-1064\/","history_text":"

This law was first created in 2022. The record of its establishment is cataloged in chapter 354<\/a> of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year.<\/p>","references":[{"id":68322,"section_number":"64.2-1065","catch_line":"Disbursement from principal","order_by":null,"url":"\/64.2-1065\/"},{"id":68355,"section_number":"64.2-1071","catch_line":"Determination and distribution of net income","order_by":null,"url":"\/64.2-1071\/"}],"refers_to":[{"id":66661,"section_number":"64.2-1067","catch_line":"Reimbursement of income from principal","order_by":null,"url":"\/64.2-1067\/"},{"id":68355,"section_number":"64.2-1071","catch_line":"Determination and distribution of net income","order_by":null,"url":"\/64.2-1071\/"}],"permalink":{"id":274017,"object_type":"law","relational_id":66204,"identifier":"64.2-1064","token":"64.2\/III\/10.1\/7\/64.2-1064","url":"\/64.2-1064\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/64.2-1064\/","token":"64.2\/III\/10.1\/7\/64.2-1064","dublin_core":{"Title":"Disbursement from income","Type":"Text","Format":"text\/html","Identifier":"\u00a7 64.2-1064","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

Subject to \u00a7 64.2-1067<\/a>, and except as otherwise provided in subdivision C 2 or 3 of \u00a7 64.2-1071<\/a>, a fiduciary<\/span> shall disburse from income<\/span>:<\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> One-half of:\n\t\t\ta. The regular compensation of the fiduciary<\/span> and any person<\/span> providing investment advisory, custodial, or other services to the fiduciary<\/span>, to the extent income<\/span> is sufficient; and\n\t\t\tb. An expense for an accounting, judicial or nonjudicial proceeding, or other matter that involves both income<\/span> and successive interests<\/span>, to the extent income<\/span> is sufficient; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> The balance of the disbursements described in subdivision 1, to the extent a fiduciary<\/span> that is an independent person<\/span> determines that making those disbursements from income<\/span> would be in the interests of the beneficiaries; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

3.<\/span> Another ordinary expense incurred in connection with administration, management, or preservation of property and distribution<\/span> of income, including interest, an ordinary repair, regularly recurring tax assessed against principal<\/span>, and an expense of an accounting, judicial or nonjudicial proceeding, or other matter that involves primarily an income interest<\/span>, to the extent income is sufficient; and <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

4.<\/span> A premium on insurance covering loss of a principal<\/span> asset or income from or use of the asset. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nDISBURSEMENT FROM INCOME (\u00a7 64.2-1064)\n\nSubject to \u00a7 64.2-1067, and except as otherwise provided in subdivision C 2 or\n3 of \u00a7 64.2-1071, a fiduciary shall disburse from income:\n\n1. One-half of:\n\t\t\ta. The regular compensation of the fiduciary and any person providing\ninvestment advisory, custodial, or other services to the fiduciary, to the\nextent income is sufficient; and\n\t\t\tb. An expense for an accounting, judicial or nonjudicial proceeding, or other\nmatter that involves both income and successive interests, to the extent income\nis sufficient;\n\n2. The balance of the disbursements described in subdivision 1, to the extent a\nfiduciary that is an independent person determines that making those\ndisbursements from income would be in the interests of the beneficiaries;\n\n3. Another ordinary expense incurred in connection with administration,\nmanagement, or preservation of property and distribution of income, including\ninterest, an ordinary repair, regularly recurring tax assessed against\nprincipal, and an expense of an accounting, judicial or nonjudicial proceeding,\nor other matter that involves primarily an income interest, to the extent income\nis sufficient; and\n\n4. A premium on insurance covering loss of a principal asset or income from or\nuse of the asset.\n\nHISTORY: 2022, c. 354.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}