{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/64.2-701.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/64.2-701.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/64.2-701.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/64.2-701.html"}],"law_id":80693,"edition_id":1,"section_id":80693,"structure_id":14203,"section_number":"64.2-701","catch_line":"Definitions","history":"2005, c. 935, \u00a7 55-541.03; 2012, c. 614; 2017, c. 592; 2018, c. 476; 2020, c. 768; 2025, c. 74.","full_text":"As used in this chapter, unless the context requires a different meaning:\n\t\t“Action,” with respect to an act of a trustee, includes a failure to act.\n\t\t“Appointive property” means the property or property interest subject to a power of appointment.\n\t\t“Ascertainable standard” means a standard relating to an individual’s health, education, support, or maintenance within the meaning of \u00a7 2041(b)(1)(A) or 2514(c)(1) of the Internal Revenue Code of 1986 and any applicable regulations.\n\t\t“Authorized fiduciary” means (i) a trustee or other fiduciary, other than a settlor, that has discretion to distribute or direct a trustee to distribute part or all of the income or principal of the first trust to one or more current beneficiaries and that is not (a) a current beneficiary of the first trust or a beneficiary to which the net income or principal of the first trust would be distributed if the first trust were terminated, (b) a trustee of the first trust that may be removed and replaced by a current beneficiary who has the power to remove the existing trustee of the first trust and designate as successor trustee a person that may be a related or subordinate party, as defined in 26 U.S.C. \u00a7 672(c), with respect to such current beneficiary, or (c) an individual trustee whose legal obligation to support a beneficiary may be satisfied by distributions of income and principal of the first trust; (ii) a special fiduciary appointed under \u00a7 64.2-779.6; or (iii) a special-needs fiduciary under \u00a7 64.2-779.10.\n\t\t“Beneficiary” means a person that (i) has a present or future, vested or contingent, beneficial interest in a trust; (ii) holds a power of appointment over trust property; or (iii) is an identified charitable organization that will or may receive distributions under the terms of the trust.\n\t\t“Charitable interest” means an interest in a trust that (i) is held by an identified charitable organization and makes the organization a qualified beneficiary; (ii) benefits only charitable organizations and, if the interest were held by an identified charitable organization, would make the organization a qualified beneficiary; or (iii) is held solely for charitable purposes and, if the interest were held by an identified charitable organization, would make the organization a qualified beneficiary.\n\t\t“Charitable organization” means (i) a person, other than an individual, organized and operated exclusively for charitable purposes or (ii) a government or governmental subdivision, agency, or instrumentality, to the extent that it holds funds exclusively for a charitable purpose.\n\t\t“Charitable purpose” means the relief of poverty, the advancement of education or religion, the promotion of health, a municipal or other governmental purpose, or another purpose the achievement of which is beneficial to the community.\n\t\t“Charitable trust” means a trust, or portion of a trust, created for a charitable purpose described in \u00a7 64.2-723.\n\t\t“Conservator” means a person appointed by the court to administer the estate of an adult individual.\n\t\t“Court” means the court of the Commonwealth having jurisdiction in matters related to trusts.\n\t\t“Current beneficiary” means a beneficiary that on the date the beneficiary’s qualification is determined is a distributee or permissible distributee of trust income or principal. “Current beneficiary” includes the holder of a presently exercisable general power of appointment but does not include a person that is a beneficiary only because the person holds any other power of appointment.\n\t\t“Decanting power” means the power of an authorized fiduciary under the Uniform Trust Decanting Act (\u00a7 64.2-779.1 et seq.) to distribute property of a first trust to one or more second trusts or to modify the terms of the first trust.\n\t\t“Directed trustee” means a trustee that is subject to a trust director’s power of direction.\n\t\t“Electronic” means relating to technology having electrical, digital, magnetic, wireless, optical, electromagnetic, or similar capabilities.\n\t\t“Environmental law” means a federal, state, or local law, rule, regulation, or ordinance relating to protection of the environment.\n\t\t“Expanded distributive discretion” means a discretionary power of distribution that is not limited to an ascertainable standard or a reasonably definite standard.\n\t\t“First trust” means a trust over which an authorized fiduciary may exercise the decanting power.\n\t\t“First-trust instrument” means the trust instrument for a first trust.\n\t\t“General power of appointment” means a power of appointment exercisable in favor of a powerholder, the powerholder’s estate, a creditor of the powerholder, or a creditor of the powerholder’s estate.\n\t\t“Guardian” means a person appointed by the court to make decisions regarding the support, care, education, health, and welfare of a minor or adult individual. The term does not include a guardian ad litem.\n\t\t“Guardian of the estate” means a person appointed by the court to administer the estate of a minor.\n\t\t“Interests of the beneficiaries” means the beneficial interests provided in the terms of the trust.\n\t\t“Jurisdiction,” with respect to a geographic area, includes a state or country.\n\t\t“Person” means an individual; estate; business or nonprofit entity; government; governmental subdivision, agency, or instrumentality; public corporation; or other legal entity.\n\t\t“Powerholder” means a person in which a donor creates a power of appointment.\n\t\t“Power of appointment” means a power that enables a powerholder acting in a nonfiduciary capacity to designate a recipient of an ownership interest in or another power of appointment over the appointive property. “Power of appointment” does not include a power of attorney.\n\t\t“Power of direction” means a power over a trust granted to a person by the terms of the trust to the extent the power is exercisable while the person is not serving as a trustee. The term includes a power over the investment, management, or distribution of trust property or other matters of trust administration. The term excludes the powers described in subsection A of \u00a7 64.2-779.28.\n\t\t“Power of withdrawal” means a presently exercisable general power of appointment other than a power exercisable by a trustee that is limited by an ascertainable standard, or that is exercisable by another person only upon consent of the trustee or a person holding an adverse interest.\n\t\t“Presently exercisable power of appointment” means a power of appointment exercisable by the powerholder at the relevant time. “Presently exercisable power of appointment” includes a power of appointment exercisable only after the occurrence of a specified event, the satisfaction of an ascertainable standard, or the passage of a specified time, only after (i) the occurrence of the specified event, (ii) the satisfaction of the ascertainable standard, or (iii) the passage of the specified time. “Presently exercisable power of appointment” does not include a power exercisable only at the powerholder’s death.\n\t\t“Property” means anything that may be the subject of ownership, whether real or personal, legal or equitable, or any interest therein.\n\t\t“Qualified beneficiary” means a beneficiary who, on the date the beneficiary’s qualification is determined, (i) is a distributee or permissible distributee of trust income or principal; (ii) would be a distributee or permissible distributee of trust income or principal if the interests of the distributees described in clause (i) terminated on that date without causing the trust to terminate; or (iii) would be a distributee or permissible distributee of trust income or principal if the trust terminated on that date.\n\t\t“Reasonably definite standard” means a clearly measurable standard under which a holder of a power of distribution is legally accountable within the meaning of \u00a7 674(b)(5)(A) of the Internal Revenue Code of 1986 and any applicable regulations.\n\t\t“Record” means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form.\n\t\t“Revocable,” as applied to a trust, means revocable by the settlor without the consent of the trustee or a person holding an adverse interest.\n\t\t“Second trust” means (i) a first trust after modification, including a restatement of the first trust, under the Uniform Trust Decanting Act (\u00a7 64.2-779.1 et seq.) or (ii) a trust to which a distribution of property from a first trust is or may be made under the Uniform Trust Decanting Act (\u00a7 64.2-779.1 et seq.).\n\t\t“Second-trust instrument” means the trust instrument for a second trust.\n\t\t“Settlor,” except as otherwise provided in \u00a7 64.2-779.22, means a person, including a testator, who creates or contributes property to a trust. If more than one person creates or contributes property to a trust, each person is a settlor of the portion of the trust property attributable to that person’s contribution except to the extent another person has the power to revoke or withdraw that portion.\n\t\t“Sign” means, with present intent to authenticate or adopt a record, (i) to execute or adopt a tangible symbol or (ii) to attach to or logically associate with the record an electronic symbol, sound, or process.\n\t\t“Spendthrift provision” means a term of a trust that restrains both voluntary and involuntary transfer of a beneficiary’s interest.\n\t\t“State” means a state of the United States, the District of Columbia, Puerto Rico, the United States Virgin Islands, or any territory or insular possession subject to the jurisdiction of the United States. The term includes an Indian tribe or band recognized by federal law or formally acknowledged by a state.\n\t\t“Terms of a trust” means:\n\n1\n\nExcept as otherwise provided in subdivision 2, the manifestation of the settlor’s intent regarding a trust’s provisions as (i) expressed in the trust instrument or (ii) established by other evidence that would be admissible in a judicial proceeding; or2\n\nThe trust’s provisions as established, determined, or amended by (i) a trustee or trust director in accordance with applicable law, (ii) court order, or (iii) a nonjudicial settlement agreement under § 64.2-709.\n\t\t\t“Trust director” means a person that is granted a power of direction by the terms of a trust to the extent the power is exercisable while the person is not serving as a trustee. The person is a trust director whether or not the terms of the trust refer to the person as a trust director and whether or not the person is a beneficiary or settlor of the trust.\n\t\t\t“Trust instrument” means a record signed by the settlor to create a trust or by any person to create a second trust that contains some or all of the terms of the trust, including any amendments.\n\t\t\t“Trustee” includes an original, additional, and successor trustee and a cotrustee.","order_by":null,"text":{"0":{"id":289275,"text":"As used in this chapter, unless the context requires a different meaning:\n\t\t“Action,” with respect to an act of a trustee, includes a failure to act.\n\t\t“Appointive property” means the property or property interest subject to a power of appointment.\n\t\t“Ascertainable standard” means a standard relating to an individual’s health, education, support, or maintenance within the meaning of \u00a7 2041(b)(1)(A) or 2514(c)(1) of the Internal Revenue Code of 1986 and any applicable regulations.\n\t\t“Authorized fiduciary” means (i) a trustee or other fiduciary, other than a settlor, that has discretion to distribute or direct a trustee to distribute part or all of the income or principal of the first trust to one or more current beneficiaries and that is not (a) a current beneficiary of the first trust or a beneficiary to which the net income or principal of the first trust would be distributed if the first trust were terminated, (b) a trustee of the first trust that may be removed and replaced by a current beneficiary who has the power to remove the existing trustee of the first trust and designate as successor trustee a person that may be a related or subordinate party, as defined in 26 U.S.C. \u00a7 672(c), with respect to such current beneficiary, or (c) an individual trustee whose legal obligation to support a beneficiary may be satisfied by distributions of income and principal of the first trust; (ii) a special fiduciary appointed under \u00a7 64.2-779.6; or (iii) a special-needs fiduciary under \u00a7 64.2-779.10.\n\t\t“Beneficiary” means a person that (i) has a present or future, vested or contingent, beneficial interest in a trust; (ii) holds a power of appointment over trust property; or (iii) is an identified charitable organization that will or may receive distributions under the terms of the trust.\n\t\t“Charitable interest” means an interest in a trust that (i) is held by an identified charitable organization and makes the organization a qualified beneficiary; (ii) benefits only charitable organizations and, if the interest were held by an identified charitable organization, would make the organization a qualified beneficiary; or (iii) is held solely for charitable purposes and, if the interest were held by an identified charitable organization, would make the organization a qualified beneficiary.\n\t\t“Charitable organization” means (i) a person, other than an individual, organized and operated exclusively for charitable purposes or (ii) a government or governmental subdivision, agency, or instrumentality, to the extent that it holds funds exclusively for a charitable purpose.\n\t\t“Charitable purpose” means the relief of poverty, the advancement of education or religion, the promotion of health, a municipal or other governmental purpose, or another purpose the achievement of which is beneficial to the community.\n\t\t“Charitable trust” means a trust, or portion of a trust, created for a charitable purpose described in \u00a7 64.2-723.\n\t\t“Conservator” means a person appointed by the court to administer the estate of an adult individual.\n\t\t“Court” means the court of the Commonwealth having jurisdiction in matters related to trusts.\n\t\t“Current beneficiary” means a beneficiary that on the date the beneficiary’s qualification is determined is a distributee or permissible distributee of trust income or principal. “Current beneficiary” includes the holder of a presently exercisable general power of appointment but does not include a person that is a beneficiary only because the person holds any other power of appointment.\n\t\t“Decanting power” means the power of an authorized fiduciary under the Uniform Trust Decanting Act (\u00a7 64.2-779.1 et seq.) to distribute property of a first trust to one or more second trusts or to modify the terms of the first trust.\n\t\t“Directed trustee” means a trustee that is subject to a trust director’s power of direction.\n\t\t“Electronic” means relating to technology having electrical, digital, magnetic, wireless, optical, electromagnetic, or similar capabilities.\n\t\t“Environmental law” means a federal, state, or local law, rule, regulation, or ordinance relating to protection of the environment.\n\t\t“Expanded distributive discretion” means a discretionary power of distribution that is not limited to an ascertainable standard or a reasonably definite standard.\n\t\t“First trust” means a trust over which an authorized fiduciary may exercise the decanting power.\n\t\t“First-trust instrument” means the trust instrument for a first trust.\n\t\t“General power of appointment” means a power of appointment exercisable in favor of a powerholder, the powerholder’s estate, a creditor of the powerholder, or a creditor of the powerholder’s estate.\n\t\t“Guardian” means a person appointed by the court to make decisions regarding the support, care, education, health, and welfare of a minor or adult individual. The term does not include a guardian ad litem.\n\t\t“Guardian of the estate” means a person appointed by the court to administer the estate of a minor.\n\t\t“Interests of the beneficiaries” means the beneficial interests provided in the terms of the trust.\n\t\t“Jurisdiction,” with respect to a geographic area, includes a state or country.\n\t\t“Person” means an individual; estate; business or nonprofit entity; government; governmental subdivision, agency, or instrumentality; public corporation; or other legal entity.\n\t\t“Powerholder” means a person in which a donor creates a power of appointment.\n\t\t“Power of appointment” means a power that enables a powerholder acting in a nonfiduciary capacity to designate a recipient of an ownership interest in or another power of appointment over the appointive property. “Power of appointment” does not include a power of attorney.\n\t\t“Power of direction” means a power over a trust granted to a person by the terms of the trust to the extent the power is exercisable while the person is not serving as a trustee. The term includes a power over the investment, management, or distribution of trust property or other matters of trust administration. The term excludes the powers described in subsection A of \u00a7 64.2-779.28.\n\t\t“Power of withdrawal” means a presently exercisable general power of appointment other than a power exercisable by a trustee that is limited by an ascertainable standard, or that is exercisable by another person only upon consent of the trustee or a person holding an adverse interest.\n\t\t“Presently exercisable power of appointment” means a power of appointment exercisable by the powerholder at the relevant time. “Presently exercisable power of appointment” includes a power of appointment exercisable only after the occurrence of a specified event, the satisfaction of an ascertainable standard, or the passage of a specified time, only after (i) the occurrence of the specified event, (ii) the satisfaction of the ascertainable standard, or (iii) the passage of the specified time. “Presently exercisable power of appointment” does not include a power exercisable only at the powerholder’s death.\n\t\t“Property” means anything that may be the subject of ownership, whether real or personal, legal or equitable, or any interest therein.\n\t\t“Qualified beneficiary” means a beneficiary who, on the date the beneficiary’s qualification is determined, (i) is a distributee or permissible distributee of trust income or principal; (ii) would be a distributee or permissible distributee of trust income or principal if the interests of the distributees described in clause (i) terminated on that date without causing the trust to terminate; or (iii) would be a distributee or permissible distributee of trust income or principal if the trust terminated on that date.\n\t\t“Reasonably definite standard” means a clearly measurable standard under which a holder of a power of distribution is legally accountable within the meaning of \u00a7 674(b)(5)(A) of the Internal Revenue Code of 1986 and any applicable regulations.\n\t\t“Record” means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form.\n\t\t“Revocable,” as applied to a trust, means revocable by the settlor without the consent of the trustee or a person holding an adverse interest.\n\t\t“Second trust” means (i) a first trust after modification, including a restatement of the first trust, under the Uniform Trust Decanting Act (\u00a7 64.2-779.1 et seq.) or (ii) a trust to which a distribution of property from a first trust is or may be made under the Uniform Trust Decanting Act (\u00a7 64.2-779.1 et seq.).\n\t\t“Second-trust instrument” means the trust instrument for a second trust.\n\t\t“Settlor,” except as otherwise provided in \u00a7 64.2-779.22, means a person, including a testator, who creates or contributes property to a trust. If more than one person creates or contributes property to a trust, each person is a settlor of the portion of the trust property attributable to that person’s contribution except to the extent another person has the power to revoke or withdraw that portion.\n\t\t“Sign” means, with present intent to authenticate or adopt a record, (i) to execute or adopt a tangible symbol or (ii) to attach to or logically associate with the record an electronic symbol, sound, or process.\n\t\t“Spendthrift provision” means a term of a trust that restrains both voluntary and involuntary transfer of a beneficiary’s interest.\n\t\t“State” means a state of the United States, the District of Columbia, Puerto Rico, the United States Virgin Islands, or any territory or insular possession subject to the jurisdiction of the United States. The term includes an Indian tribe or band recognized by federal law or formally acknowledged by a state.\n\t\t“Terms of a trust” means:","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1,"next_prefix":"1"},"1":{"id":289276,"text":"Except as otherwise provided in subdivision 2, the manifestation of the settlor’s intent regarding a trust’s provisions as (i) expressed in the trust instrument or (ii) established by other evidence that would be admissible in a judicial proceeding; or","type":"section","prefixes":["1"],"prefix":"1","entire_prefix":"1","prefix_anchor":"1","level":1,"prior_prefix":"","next_prefix":"2"},"2":{"id":289277,"text":"The trust’s provisions as established, determined, or amended by (i) a trustee or trust director in accordance with applicable law, (ii) court order, or (iii) a nonjudicial settlement agreement under § 64.2-709.\n\t\t\t“Trust director” means a person that is granted a power of direction by the terms of a trust to the extent the power is exercisable while the person is not serving as a trustee. The person is a trust director whether or not the terms of the trust refer to the person as a trust director and whether or not the person is a beneficiary or settlor of the trust.\n\t\t\t“Trust instrument” means a record signed by the settlor to create a trust or by any person to create a second trust that contains some or all of the terms of the trust, including any amendments.\n\t\t\t“Trustee” includes an original, additional, and successor trustee and a cotrustee.","type":"section","prefixes":["2"],"prefix":"2","entire_prefix":"2","prefix_anchor":"2","level":1,"prior_prefix":"1"}},"ancestry":[{"id":14203,"edition_id":1,"name":"General Provisions and Definitions","identifier":"1","label":"article","depth":4,"order_by":1,"parent_id":12725,"metadata":{},"date_created":"2026-06-26 03:47:16","date_modified":"2026-06-26 03:47:16","permalink":{"id":274109,"object_type":"structure","relational_id":14203,"identifier":"1","token":"64.2\/III\/7\/1","url":"\/64.2\/III\/7\/1\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12725,"edition_id":1,"name":"Uniform Trust Code","identifier":"7","label":"chapter","depth":3,"order_by":1,"parent_id":12724,"metadata":{},"date_created":"2026-06-26 03:43:50","date_modified":"2026-06-26 03:43:50","permalink":{"id":274107,"object_type":"structure","relational_id":12725,"identifier":"7","token":"64.2\/III\/7","url":"\/64.2\/III\/7\/","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":77403,"structure_id":14203,"section_number":"64.2-700","catch_line":"Scope","url":"\/64.2-700\/","token":"64.2\/III\/7\/1\/64.2-700","metadata":false},{"id":80693,"structure_id":14203,"section_number":"64.2-701","catch_line":"Definitions","url":"\/64.2-701\/","token":"64.2\/III\/7\/1\/64.2-701","metadata":false},{"id":85487,"structure_id":14203,"section_number":"64.2-702","catch_line":"Knowledge","url":"\/64.2-702\/","token":"64.2\/III\/7\/1\/64.2-702","metadata":false},{"id":86944,"structure_id":14203,"section_number":"64.2-703","catch_line":"Default and mandatory rules","url":"\/64.2-703\/","token":"64.2\/III\/7\/1\/64.2-703","metadata":false},{"id":70374,"structure_id":14203,"section_number":"64.2-704","catch_line":"Common law of trusts; principles of equity","url":"\/64.2-704\/","token":"64.2\/III\/7\/1\/64.2-704","metadata":false},{"id":78961,"structure_id":14203,"section_number":"64.2-705","catch_line":"Governing law","url":"\/64.2-705\/","token":"64.2\/III\/7\/1\/64.2-705","metadata":false},{"id":85685,"structure_id":14203,"section_number":"64.2-706","catch_line":"Principal place of administration","url":"\/64.2-706\/","token":"64.2\/III\/7\/1\/64.2-706","metadata":false},{"id":56469,"structure_id":14203,"section_number":"64.2-707","catch_line":"Methods and waiver of notice","url":"\/64.2-707\/","token":"64.2\/III\/7\/1\/64.2-707","metadata":false},{"id":76542,"structure_id":14203,"section_number":"64.2-708","catch_line":"Others treated as qualified beneficiaries","url":"\/64.2-708\/","token":"64.2\/III\/7\/1\/64.2-708","metadata":false},{"id":55392,"structure_id":14203,"section_number":"64.2-709","catch_line":"Nonjudicial settlement agreements","url":"\/64.2-709\/","token":"64.2\/III\/7\/1\/64.2-709","metadata":false}],"previous_section":{"id":77403,"structure_id":14203,"section_number":"64.2-700","catch_line":"Scope","url":"\/64.2-700\/","token":"64.2\/III\/7\/1\/64.2-700","metadata":false},"next_section":{"id":85487,"structure_id":14203,"section_number":"64.2-702","catch_line":"Knowledge","url":"\/64.2-702\/","token":"64.2\/III\/7\/1\/64.2-702","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/64.2-701\/","history_text":"

This law was first created in 2005. The record of its establishment is cataloged in chapter 935<\/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. It has been modified 5 times. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. Those modifications are as follows: in 2012, chapter 614<\/a>; in 2017, chapter 592<\/a>; in 2018, chapter 476<\/a>; in 2020, chapter 768<\/a>; in 2025, chapter 74<\/a>.<\/p>","references":[{"id":81918,"section_number":"64.2-1033","catch_line":"Definitions","order_by":null,"url":"\/64.2-1033\/"},{"id":80594,"section_number":"64.2-1038","catch_line":"Fiduciary's power to adjust","order_by":null,"url":"\/64.2-1038\/"},{"id":74484,"section_number":"64.2-1041","catch_line":"Authority of fiduciary","order_by":null,"url":"\/64.2-1041\/"},{"id":72707,"section_number":"64.2-1042","catch_line":"Notice","order_by":null,"url":"\/64.2-1042\/"}],"refers_to":[{"id":55392,"section_number":"64.2-709","catch_line":"Nonjudicial settlement agreements","order_by":null,"url":"\/64.2-709\/"},{"id":60061,"section_number":"64.2-723","catch_line":"Charitable purposes; enforcement","order_by":null,"url":"\/64.2-723\/"},{"id":69107,"section_number":"64.2-779.1","catch_line":"Scope","order_by":null,"url":"\/64.2-779.1\/"},{"id":60630,"section_number":"64.2-779.10","catch_line":"Trust for beneficiary with disability","order_by":null,"url":"\/64.2-779.10\/"},{"id":69578,"section_number":"64.2-779.22","catch_line":"Settlor","order_by":null,"url":"\/64.2-779.22\/"},{"id":53942,"section_number":"64.2-779.28","catch_line":"Exclusions","order_by":null,"url":"\/64.2-779.28\/"},{"id":86465,"section_number":"64.2-779.6","catch_line":"Court involvement","order_by":null,"url":"\/64.2-779.6\/"}],"permalink":{"id":274115,"object_type":"law","relational_id":80693,"identifier":"64.2-701","token":"64.2\/III\/7\/1\/64.2-701","url":"\/64.2-701\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/64.2-701\/","token":"64.2\/III\/7\/1\/64.2-701","dublin_core":{"Title":"Definitions","Type":"Text","Format":"text\/html","Identifier":"\u00a7 64.2-701","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

As used in this chapter, unless the context requires a different meaning:\n\t\t“Action,” with respect to an act of a trustee, includes a failure to act.\n\t\t“Appointive property<\/span>” means the property or property interest subject to a power of appointment<\/span>.\n\t\t“Ascertainable standard<\/span>” means a standard relating to an individual’s health, education, support, or maintenance within the meaning of \u00a7 2041(b)(1)(A) or 2514(c)(1) of the Internal Revenue Code of 1986 and any applicable regulations.\n\t\t“Authorized fiduciary<\/span>” means (i) a trustee or other fiduciary, other than a settlor, that has discretion to distribute or direct a trustee to distribute part or all of the income or principal of the first trust<\/span> to one or more current beneficiaries and that is not (a) a current beneficiary<\/span> of the first trust<\/span> or a beneficiary to which the net income or principal of the first trust<\/span> would be distributed if the first trust<\/span> were terminated, (b) a trustee of the first trust<\/span> that may be removed and replaced by a current beneficiary<\/span> who has the power to remove the existing trustee of the first trust<\/span> and designate as successor trustee a person<\/span> that may be a related or subordinate party<\/span>, as defined in 26 U.S.C. \u00a7 672(c), with respect to such current beneficiary<\/span>, or (c) an individual trustee whose legal obligation to support a beneficiary may be satisfied by distributions of income and principal of the first trust<\/span>; (ii) a special fiduciary appointed under \u00a7 64.2-779.6<\/a>; or (iii) a special-needs fiduciary under \u00a7 64.2-779.10<\/a>.\n\t\t“Beneficiary” means a person<\/span> that (i) has a present or future, vested or contingent, beneficial interest in a trust; (ii) holds a power of appointment<\/span> over trust property; or (iii) is an identified charitable organization<\/span> that will<\/span> or may receive distributions under the terms of the trust.\n\t\t“Charitable interest<\/span>” means an interest in a trust that (i) is held by an identified charitable organization<\/span> and makes the organization a qualified beneficiary<\/span>; (ii) benefits only charitable organizations<\/span> and, if the interest were held by an identified charitable organization<\/span>, would make the organization a qualified beneficiary<\/span>; or (iii) is held solely for charitable purposes<\/span> and, if the interest were held by an identified charitable organization<\/span>, would make the organization a qualified beneficiary<\/span>.\n\t\t“Charitable organization<\/span>” means (i) a person<\/span>, other than an individual, organized and operated exclusively for charitable purposes<\/span> or (ii) a government or governmental subdivision, agency, or instrumentality, to the extent that it holds funds exclusively for a charitable purpose<\/span>.\n\t\t“Charitable purpose<\/span>” means the relief of poverty, the advancement of education or religion, the promotion of health, a municipal or other governmental purpose, or another purpose the achievement of which is beneficial to the community.\n\t\t“Charitable trust<\/span>” means a trust, or portion of a trust, created for a charitable purpose<\/span> described in \u00a7 64.2-723<\/a>.\n\t\t“Conservator<\/span>” means a person<\/span> appointed by the court<\/span> to administer the estate of an adult individual.\n\t\t“Court<\/span>” means the court<\/span> of the Commonwealth having jurisdiction<\/span> in matters related to trusts.\n\t\t“Current beneficiary<\/span>” means a beneficiary that on the date the beneficiary’s qualification is determined is a distributee or permissible distributee of trust income or principal. “Current beneficiary<\/span>” includes the holder of a presently exercisable general power of appointment<\/span><\/span> but does not include a person<\/span> that is a beneficiary only because the person<\/span> holds any other power of appointment<\/span>.\n\t\t“Decanting power<\/span>” means the power of an authorized fiduciary<\/span> under the Uniform Trust Decanting Act (\u00a7 64.2-779.1<\/a> et seq.) to distribute property of a first trust<\/span> to one or more second trusts<\/span> or to modify the terms of the first trust<\/span>.\n\t\t“Directed trustee<\/span>” means a trustee that is subject to a trust director<\/span>’s power of direction<\/span>.\n\t\t“Electronic<\/span>” means relating to technology having electrical, digital, magnetic, wireless, optical, electromagnetic, or similar capabilities.\n\t\t“Environmental law<\/span>” means a federal, state<\/span>, or local law, rule, regulation, or ordinance<\/span> relating to protection of the environment.\n\t\t“Expanded distributive discretion<\/span>” means a discretionary power of distribution that is not limited to an ascertainable standard<\/span> or a reasonably definite standard<\/span>.\n\t\t“First trust<\/span>” means a trust over which an authorized fiduciary<\/span> may exercise the decanting power<\/span>.\n\t\t“First-trust instrument<\/span><\/span>” means the trust instrument<\/span> for a first trust<\/span>.\n\t\t“General power of appointment<\/span><\/span>” means a power of appointment<\/span> exercisable in favor of a powerholder<\/span>, the powerholder<\/span>’s estate, a creditor<\/span> of the powerholder<\/span>, or a creditor<\/span> of the powerholder<\/span>’s estate.\n\t\t“Guardian” means a person<\/span> appointed by the court<\/span> to make decisions regarding the support, care, education, health, and welfare of a minor<\/span> or adult individual. The term does not include a guardian ad litem<\/span>.\n\t\t“Guardian of the estate<\/span>” means a person<\/span> appointed by the court<\/span> to administer the estate of a minor<\/span>.\n\t\t“Interests of the beneficiaries<\/span>” means the beneficial interests provided in the terms of the trust.\n\t\t“Jurisdiction<\/span>,” with respect to a geographic area, includes a state<\/span> or country.\n\t\t“Person<\/span>” means an individual; estate; business or nonprofit entity; government; governmental subdivision, agency, or instrumentality; public corporation; or other legal entity.\n\t\t“Powerholder<\/span>” means a person<\/span> in which a donor creates a power of appointment<\/span>.\n\t\t“Power of appointment<\/span>” means a power that enables a powerholder<\/span> acting in a nonfiduciary capacity to designate a recipient of an ownership interest in or another power of appointment<\/span> over the appointive property<\/span>. “Power of appointment<\/span>” does not include a power of attorney<\/span>.\n\t\t“Power of direction<\/span>” means a power over a trust granted to a person<\/span> by the terms of the trust to the extent the power is exercisable while the person<\/span> is not serving as a trustee. The term includes a power over the investment, management, or distribution of trust property or other matters of trust administration. The term excludes the powers described in subsection A of \u00a7 64.2-779.28<\/a>.\n\t\t“Power of withdrawal<\/span>” means a presently exercisable general power of appointment<\/span><\/span> other than a power exercisable by a trustee that is limited by an ascertainable standard<\/span>, or that is exercisable by another person<\/span> only upon consent of the trustee or a person<\/span> holding an adverse interest.\n\t\t“Presently exercisable power of appointment<\/span><\/span>” means a power of appointment<\/span> exercisable by the powerholder<\/span> at the relevant time. “Presently exercisable power of appointment<\/span><\/span>” includes a power of appointment<\/span> exercisable only after the occurrence of a specified event, the satisfaction of an ascertainable standard<\/span>, or the passage of a specified time, only after (i) the occurrence of the specified event, (ii) the satisfaction of the ascertainable standard<\/span>, or (iii) the passage of the specified time. “Presently exercisable power of appointment<\/span><\/span>” does not include a power exercisable only at the powerholder<\/span>’s death.\n\t\t“Property” means anything that may be the subject of ownership, whether real or personal, legal or equitable<\/span>, or any interest therein.\n\t\t“Qualified beneficiary<\/span>” means a beneficiary who, on the date the beneficiary’s qualification is determined, (i) is a distributee or permissible distributee of trust income or principal; (ii) would be a distributee or permissible distributee of trust income or principal if the interests of the distributees described in clause (i) terminated on that date without causing the trust to terminate; or (iii) would be a distributee or permissible distributee of trust income or principal if the trust terminated on that date.\n\t\t“Reasonably definite standard<\/span>” means a clearly measurable standard under which a holder of a power of distribution is legally accountable within the meaning of \u00a7 674(b)(5)(A) of the Internal Revenue Code of 1986 and any applicable regulations.\n\t\t“Record<\/span>” means information that is inscribed on a tangible medium or that is stored in an electronic<\/span> or other medium and is retrievable in perceivable form.\n\t\t“Revocable,” as applied to a trust, means revocable by the settlor without the consent of the trustee or a person<\/span> holding an adverse interest.\n\t\t“Second trust<\/span>” means (i) a first trust<\/span> after modification, including a restatement of the first trust<\/span>, under the Uniform Trust Decanting Act (\u00a7 64.2-779.1<\/a> et seq.) or (ii) a trust to which a distribution of property from a first trust<\/span> is or may be made under the Uniform Trust Decanting Act (\u00a7 64.2-779.1<\/a> et seq.).\n\t\t“Second-trust instrument<\/span><\/span>” means the trust instrument<\/span> for a second trust<\/span>.\n\t\t“Settlor,” except as otherwise provided in \u00a7 64.2-779.22<\/a>, means a person<\/span>, including a testator, who creates or contributes property to a trust. If more than one person<\/span> creates or contributes property to a trust, each person<\/span> is a settlor of the portion of the trust property attributable to that person<\/span>’s contribution except to the extent another person<\/span> has the power to revoke or withdraw that portion.\n\t\t“Sign” means, with present intent<\/span> to authenticate or adopt a record<\/span>, (i) to execute or adopt a tangible symbol or (ii) to attach to or logically associate with the record<\/span> an electronic<\/span> symbol, sound, or process.\n\t\t“Spendthrift provision<\/span>” means a term of a trust that restrains both voluntary and involuntary transfer of a beneficiary’s interest.\n\t\t“State<\/span>” means a state<\/span> of the United States<\/span>, the District of Columbia, Puerto Rico, the United States<\/span> Virgin Islands, or any territory or insular possession<\/span> subject to the jurisdiction<\/span> of the United States<\/span>. The term includes an Indian tribe or band recognized by federal law or formally acknowledged by a state<\/span>.\n\t\t“Terms of a trust” means:<\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> Except as otherwise provided in subdivision 2, the manifestation of the settlor’s intent<\/span> regarding a trust’s provisions as (i) expressed in the trust instrument<\/span> or (ii) established by other evidence<\/span> that would be admissible<\/span> in a judicial proceeding; or <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> The trust’s provisions as established, determined, or amended by (i) a trustee or trust director<\/span> in accordance with applicable law, (ii) court order<\/span>, or (iii) a nonjudicial settlement<\/span> agreement under § 64.2-709<\/a>.\n\t\t\t“Trust director<\/span>” means a person<\/span> that is granted a power of direction<\/span> by the terms of a trust to the extent the power is exercisable while the person<\/span> is not serving as a trustee. The person<\/span> is a trust director<\/span> whether or not the terms of the trust refer to the person<\/span> as a trust director<\/span> and whether or not the person<\/span> is a beneficiary or settlor of the trust.\n\t\t\t“Trust instrument<\/span>” means a record<\/span> signed by the settlor to create a trust or by any person<\/span> to create a second trust<\/span> that contains some or all of the terms of the trust, including any amendments.\n\t\t\t“Trustee” includes an original, additional, and successor trustee and a cotrustee. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nDEFINITIONS (\u00a7 64.2-701)\n\nAs used in this chapter, unless the context requires a different meaning:\n\t\t“Action,” with respect to an act of a trustee, includes a failure\nto act.\n\t\t“Appointive property” means the property or property interest\nsubject to a power of appointment.\n\t\t“Ascertainable standard” means a standard relating to an\nindividual’s health, education, support, or maintenance within the meaning\nof \u00a7 2041(b)(1)(A) or 2514(c)(1) of the Internal Revenue Code of 1986 and any\napplicable regulations.\n\t\t“Authorized fiduciary” means (i) a trustee or other fiduciary,\nother than a settlor, that has discretion to distribute or direct a trustee to\ndistribute part or all of the income or principal of the first trust to one or\nmore current beneficiaries and that is not (a) a current beneficiary of the\nfirst trust or a beneficiary to which the net income or principal of the first\ntrust would be distributed if the first trust were terminated, (b) a trustee of\nthe first trust that may be removed and replaced by a current beneficiary who\nhas the power to remove the existing trustee of the first trust and designate as\nsuccessor trustee a person that may be a related or subordinate party, as\ndefined in 26 U.S.C. \u00a7 672(c), with respect to such current beneficiary, or (c)\nan individual trustee whose legal obligation to support a beneficiary may be\nsatisfied by distributions of income and principal of the first trust; (ii) a\nspecial fiduciary appointed under \u00a7 64.2-779.6; or (iii) a special-needs\nfiduciary under \u00a7 64.2-779.10.\n\t\t“Beneficiary” means a person that (i) has a present or future,\nvested or contingent, beneficial interest in a trust; (ii) holds a power of\nappointment over trust property; or (iii) is an identified charitable\norganization that will or may receive distributions under the terms of the\ntrust.\n\t\t“Charitable interest” means an interest in a trust that (i) is\nheld by an identified charitable organization and makes the organization a\nqualified beneficiary; (ii) benefits only charitable organizations and, if the\ninterest were held by an identified charitable organization, would make the\norganization a qualified beneficiary; or (iii) is held solely for charitable\npurposes and, if the interest were held by an identified charitable\norganization, would make the organization a qualified beneficiary.\n\t\t“Charitable organization” means (i) a person, other than an\nindividual, organized and operated exclusively for charitable purposes or (ii) a\ngovernment or governmental subdivision, agency, or instrumentality, to the\nextent that it holds funds exclusively for a charitable purpose.\n\t\t“Charitable purpose” means the relief of poverty, the advancement\nof education or religion, the promotion of health, a municipal or other\ngovernmental purpose, or another purpose the achievement of which is beneficial\nto the community.\n\t\t“Charitable trust” means a trust, or portion of a trust, created\nfor a charitable purpose described in \u00a7 64.2-723.\n\t\t“Conservator” means a person appointed by the court to administer\nthe estate of an adult individual.\n\t\t“Court” means the court of the Commonwealth having jurisdiction in\nmatters related to trusts.\n\t\t“Current beneficiary” means a beneficiary that on the date the\nbeneficiary’s qualification is determined is a distributee or permissible\ndistributee of trust income or principal. “Current beneficiary”\nincludes the holder of a presently exercisable general power of appointment but\ndoes not include a person that is a beneficiary only because the person holds\nany other power of appointment.\n\t\t“Decanting power” means the power of an authorized fiduciary under\nthe Uniform Trust Decanting Act (\u00a7 64.2-779.1 et seq.) to distribute property\nof a first trust to one or more second trusts or to modify the terms of the\nfirst trust.\n\t\t“Directed trustee” means a trustee that is subject to a trust\ndirector’s power of direction.\n\t\t“Electronic” means relating to technology having electrical,\ndigital, magnetic, wireless, optical, electromagnetic, or similar capabilities.\n\t\t“Environmental law” means a federal, state, or local law, rule,\nregulation, or ordinance relating to protection of the environment.\n\t\t“Expanded distributive discretion” means a discretionary power of\ndistribution that is not limited to an ascertainable standard or a reasonably\ndefinite standard.\n\t\t“First trust” means a trust over which an authorized fiduciary may\nexercise the decanting power.\n\t\t“First-trust instrument” means the trust instrument for a first\ntrust.\n\t\t“General power of appointment” means a power of appointment\nexercisable in favor of a powerholder, the powerholder’s estate, a\ncreditor of the powerholder, or a creditor of the powerholder’s estate.\n\t\t“Guardian” means a person appointed by the court to make decisions\nregarding the support, care, education, health, and welfare of a minor or adult\nindividual. The term does not include a guardian ad litem.\n\t\t“Guardian of the estate” means a person appointed by the court to\nadminister the estate of a minor.\n\t\t“Interests of the beneficiaries” means the beneficial interests\nprovided in the terms of the trust.\n\t\t“Jurisdiction,” with respect to a geographic area, includes a\nstate or country.\n\t\t“Person” means an individual; estate; business or nonprofit\nentity; government; governmental subdivision, agency, or instrumentality; public\ncorporation; or other legal entity.\n\t\t“Powerholder” means a person in which a donor creates a power of\nappointment.\n\t\t“Power of appointment” means a power that enables a powerholder\nacting in a nonfiduciary capacity to designate a recipient of an ownership\ninterest in or another power of appointment over the appointive property.\n“Power of appointment” does not include a power of attorney.\n\t\t“Power of direction” means a power over a trust granted to a\nperson by the terms of the trust to the extent the power is exercisable while\nthe person is not serving as a trustee. The term includes a power over the\ninvestment, management, or distribution of trust property or other matters of\ntrust administration. The term excludes the powers described in subsection A of\n\u00a7 64.2-779.28.\n\t\t“Power of withdrawal” means a presently exercisable general power\nof appointment other than a power exercisable by a trustee that is limited by an\nascertainable standard, or that is exercisable by another person only upon\nconsent of the trustee or a person holding an adverse interest.\n\t\t“Presently exercisable power of appointment” means a power of\nappointment exercisable by the powerholder at the relevant time.\n“Presently exercisable power of appointment” includes a power of\nappointment exercisable only after the occurrence of a specified event, the\nsatisfaction of an ascertainable standard, or the passage of a specified time,\nonly after (i) the occurrence of the specified event, (ii) the satisfaction of\nthe ascertainable standard, or (iii) the passage of the specified time.\n“Presently exercisable power of appointment” does not include a\npower exercisable only at the powerholder’s death.\n\t\t“Property” means anything that may be the subject of ownership,\nwhether real or personal, legal or equitable, or any interest therein.\n\t\t“Qualified beneficiary” means a beneficiary who, on the date the\nbeneficiary’s qualification is determined, (i) is a distributee or\npermissible distributee of trust income or principal; (ii) would be a\ndistributee or permissible distributee of trust income or principal if the\ninterests of the distributees described in clause (i) terminated on that date\nwithout causing the trust to terminate; or (iii) would be a distributee or\npermissible distributee of trust income or principal if the trust terminated on\nthat date.\n\t\t“Reasonably definite standard” means a clearly measurable standard\nunder which a holder of a power of distribution is legally accountable within\nthe meaning of \u00a7 674(b)(5)(A) of the Internal Revenue Code of 1986 and any\napplicable regulations.\n\t\t“Record” means information that is inscribed on a tangible medium\nor that is stored in an electronic or other medium and is retrievable in\nperceivable form.\n\t\t“Revocable,” as applied to a trust, means revocable by the settlor\nwithout the consent of the trustee or a person holding an adverse interest.\n\t\t“Second trust” means (i) a first trust after modification,\nincluding a restatement of the first trust, under the Uniform Trust Decanting\nAct (\u00a7 64.2-779.1 et seq.) or (ii) a trust to which a distribution of property\nfrom a first trust is or may be made under the Uniform Trust Decanting Act (\u00a7\n64.2-779.1 et seq.).\n\t\t“Second-trust instrument” means the trust instrument for a second\ntrust.\n\t\t“Settlor,” except as otherwise provided in \u00a7 64.2-779.22, means a\nperson, including a testator, who creates or contributes property to a trust. If\nmore than one person creates or contributes property to a trust, each person is\na settlor of the portion of the trust property attributable to that\nperson’s contribution except to the extent another person has the power to\nrevoke or withdraw that portion.\n\t\t“Sign” means, with present intent to authenticate or adopt a\nrecord, (i) to execute or adopt a tangible symbol or (ii) to attach to or\nlogically associate with the record an electronic symbol, sound, or process.\n\t\t“Spendthrift provision” means a term of a trust that restrains\nboth voluntary and involuntary transfer of a beneficiary’s interest.\n\t\t“State” means a state of the United States, the District of\nColumbia, Puerto Rico, the United States Virgin Islands, or any territory or\ninsular possession subject to the jurisdiction of the United States. The term\nincludes an Indian tribe or band recognized by federal law or formally\nacknowledged by a state.\n\t\t“Terms of a trust” means:\n\n1. Except as otherwise provided in subdivision 2, the manifestation of the\nsettlor’s intent regarding a trust’s provisions as (i) expressed in\nthe trust instrument or (ii) established by other evidence that would be\nadmissible in a judicial proceeding; or\n\n2. The trust’s provisions as established, determined, or amended by (i) a\ntrustee or trust director in accordance with applicable law, (ii) court order,\nor (iii) a nonjudicial settlement agreement under § 64.2-709.\n\t\t\t“Trust director” means a person that is granted a power of\ndirection by the terms of a trust to the extent the power is exercisable while\nthe person is not serving as a trustee. The person is a trust director whether\nor not the terms of the trust refer to the person as a trust director and\nwhether or not the person is a beneficiary or settlor of the trust.\n\t\t\t“Trust instrument” means a record signed by the settlor to create\na trust or by any person to create a second trust that contains some or all of\nthe terms of the trust, including any amendments.\n\t\t\t“Trustee” includes an original, additional, and successor trustee\nand a cotrustee.\n\nHISTORY: 2005, c. 935, \u00a7 55-541.03; 2012, c. 614; 2017, c. 592; 2018, c. 476;\n2020, c. 768; 2025, c. 74.","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}}