{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/64.2-912.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/64.2-912.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/64.2-912.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/64.2-912.html"}],"law_id":84334,"edition_id":1,"section_id":84334,"structure_id":13564,"section_number":"64.2-912","catch_line":"Declination, resignation, incapacity, death, or removal of custodial trustee; designation of successor","history":"1990, c. 264, \u00a7 55-34.13; 1997, c. 80; 2012, c. 614.","full_text":"A\n\nBefore accepting the custodial trust property, a person designated as custodial trustee may decline to serve by notifying the person who made the designation, the transferor, or the transferor’s legal representative. If an event giving rise to a transfer has not occurred, the substitute custodial trustee designated under § 64.2-902 becomes the custodial trustee, or, if a substitute custodial trustee has not been designated, the person who made the designation may designate a substitute custodial trustee pursuant to § 64.2-902. In other cases, the transferor or the transferor’s legal representative may designate a substitute custodial trustee.B\n\nA custodial trustee who has accepted the custodial trust property may resign by (i) delivering written notice to a successor custodial trustee, if any, the beneficiary, and, if the beneficiary is incapacitated, to the beneficiary’s conservator, if any, and (ii) transferring or registering, or recording an appropriate instrument relating to, the custodial trust property, in the name of, and delivering the records to, the successor custodial trustee.C\n\nIf a custodial trustee or successor custodial trustee is ineligible, resigns, dies, or becomes incapacitated, the successor designated in accordance with the trust instrument or in accordance with § 64.2-902 becomes custodial trustee. If there is no effective provision for a successor, the beneficiary, if not incapacitated, may designate a successor custodial trustee. If the beneficiary is incapacitated, or fails to act within 90 days after the ineligibility, resignation, death, or incapacity of the custodial trustee, the beneficiary’s conservator becomes successor custodial trustee. If the beneficiary does not have a conservator or the conservator fails to act, the resigning custodial trustee may designate a successor custodial trustee.D\n\nIf a successor custodial trustee is not designated as provided in this section, the transferor, the legal representative of the transferor or of the custodial trustee, an adult member of the beneficiary’s family, the guardian or conservator of the beneficiary, a person interested in the custodial trust property, or a person interested in the welfare of the beneficiary may petition the court to designate a successor custodial trustee.E\n\nA custodial trustee who declines to serve or resigns, or the legal representative of a deceased or incapacitated custodial trustee, as soon as practicable, shall put the custodial trust property and records in the possession and control of the successor custodial trustee. The successor custodial trustee may enforce the obligation to deliver custodial trust property and records and becomes responsible for each item as received.F\n\nA beneficiary, the beneficiary’s conservator, an adult member of the beneficiary’s family, a guardian of the beneficiary, a person interested in the custodial trust property, or a person interested in the welfare of the beneficiary may petition the court to remove the custodial trustee for cause and designate a successor custodial trustee, to require the custodial trustee to furnish a bond or other security for the faithful performance of fiduciary duties, or for other appropriate relief.","order_by":null,"text":{"0":{"id":302286,"text":"Before accepting the custodial trust property, a person designated as custodial trustee may decline to serve by notifying the person who made the designation, the transferor, or the transferor’s legal representative. If an event giving rise to a transfer has not occurred, the substitute custodial trustee designated under § 64.2-902 becomes the custodial trustee, or, if a substitute custodial trustee has not been designated, the person who made the designation may designate a substitute custodial trustee pursuant to § 64.2-902. In other cases, the transferor or the transferor’s legal representative may designate a substitute custodial trustee.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":302287,"text":"A custodial trustee who has accepted the custodial trust property may resign by (i) delivering written notice to a successor custodial trustee, if any, the beneficiary, and, if the beneficiary is incapacitated, to the beneficiary’s conservator, if any, and (ii) transferring or registering, or recording an appropriate instrument relating to, the custodial trust property, in the name of, and delivering the records to, the successor custodial trustee.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"C"},"2":{"id":302288,"text":"If a custodial trustee or successor custodial trustee is ineligible, resigns, dies, or becomes incapacitated, the successor designated in accordance with the trust instrument or in accordance with § 64.2-902 becomes custodial trustee. If there is no effective provision for a successor, the beneficiary, if not incapacitated, may designate a successor custodial trustee. If the beneficiary is incapacitated, or fails to act within 90 days after the ineligibility, resignation, death, or incapacity of the custodial trustee, the beneficiary’s conservator becomes successor custodial trustee. If the beneficiary does not have a conservator or the conservator fails to act, the resigning custodial trustee may designate a successor custodial trustee.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B","next_prefix":"D"},"3":{"id":302289,"text":"If a successor custodial trustee is not designated as provided in this section, the transferor, the legal representative of the transferor or of the custodial trustee, an adult member of the beneficiary’s family, the guardian or conservator of the beneficiary, a person interested in the custodial trust property, or a person interested in the welfare of the beneficiary may petition the court to designate a successor custodial trustee.","type":"section","prefixes":["D"],"prefix":"D","entire_prefix":"D","prefix_anchor":"D","level":1,"prior_prefix":"C","next_prefix":"E"},"4":{"id":302290,"text":"A custodial trustee who declines to serve or resigns, or the legal representative of a deceased or incapacitated custodial trustee, as soon as practicable, shall put the custodial trust property and records in the possession and control of the successor custodial trustee. The successor custodial trustee may enforce the obligation to deliver custodial trust property and records and becomes responsible for each item as received.","type":"section","prefixes":["E"],"prefix":"E","entire_prefix":"E","prefix_anchor":"E","level":1,"prior_prefix":"D","next_prefix":"F"},"5":{"id":302291,"text":"A beneficiary, the beneficiary’s conservator, an adult member of the beneficiary’s family, a guardian of the beneficiary, a person interested in the custodial trust property, or a person interested in the welfare of the beneficiary may petition the court to remove the custodial trustee for cause and designate a successor custodial trustee, to require the custodial trustee to furnish a bond or other security for the faithful performance of fiduciary duties, or for other appropriate relief.","type":"section","prefixes":["F"],"prefix":"F","entire_prefix":"F","prefix_anchor":"F","level":1,"prior_prefix":"E"}},"ancestry":[{"id":13564,"edition_id":1,"name":"Uniform Custodial Trust Act","identifier":"9","label":"chapter","depth":3,"order_by":1,"parent_id":12724,"metadata":{},"date_created":"2026-06-26 03:45:15","date_modified":"2026-06-26 03:45:15","permalink":{"id":274735,"object_type":"structure","relational_id":13564,"identifier":"9","token":"64.2\/III\/9","url":"\/64.2\/III\/9\/","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":66999,"structure_id":13564,"section_number":"64.2-900","catch_line":"Definitions","url":"\/64.2-900\/","token":"64.2\/III\/9\/64.2-900","metadata":false},{"id":57024,"structure_id":13564,"section_number":"64.2-901","catch_line":"Custodial trust; creation and termination; general provisions","url":"\/64.2-901\/","token":"64.2\/III\/9\/64.2-901","metadata":false},{"id":74644,"structure_id":13564,"section_number":"64.2-902","catch_line":"Custodial trustee for future payment or transfer","url":"\/64.2-902\/","token":"64.2\/III\/9\/64.2-902","metadata":false},{"id":58164,"structure_id":13564,"section_number":"64.2-903","catch_line":"Form and effect of receipt and acceptance by custodial trustee; jurisdiction","url":"\/64.2-903\/","token":"64.2\/III\/9\/64.2-903","metadata":false},{"id":77892,"structure_id":13564,"section_number":"64.2-904","catch_line":"Transfer to custodial trustee by fiduciary or obligor; facility of payment","url":"\/64.2-904\/","token":"64.2\/III\/9\/64.2-904","metadata":false},{"id":68669,"structure_id":13564,"section_number":"64.2-905","catch_line":"Multiple beneficiaries; separate custodial trusts; survivorship","url":"\/64.2-905\/","token":"64.2\/III\/9\/64.2-905","metadata":false},{"id":64170,"structure_id":13564,"section_number":"64.2-906","catch_line":"General duties of custodial trustee","url":"\/64.2-906\/","token":"64.2\/III\/9\/64.2-906","metadata":false},{"id":73358,"structure_id":13564,"section_number":"64.2-907","catch_line":"General powers of custodial trustee","url":"\/64.2-907\/","token":"64.2\/III\/9\/64.2-907","metadata":false},{"id":54526,"structure_id":13564,"section_number":"64.2-908","catch_line":"Use of custodial trust property","url":"\/64.2-908\/","token":"64.2\/III\/9\/64.2-908","metadata":false},{"id":68505,"structure_id":13564,"section_number":"64.2-909","catch_line":"Determination of incapacity; effect","url":"\/64.2-909\/","token":"64.2\/III\/9\/64.2-909","metadata":false},{"id":85961,"structure_id":13564,"section_number":"64.2-910","catch_line":"Exemption of third person from liability","url":"\/64.2-910\/","token":"64.2\/III\/9\/64.2-910","metadata":false},{"id":60757,"structure_id":13564,"section_number":"64.2-911","catch_line":"Liability to third person; exceptions","url":"\/64.2-911\/","token":"64.2\/III\/9\/64.2-911","metadata":false},{"id":84334,"structure_id":13564,"section_number":"64.2-912","catch_line":"Declination, resignation, incapacity, death, or removal of custodial trustee; designation of successor","url":"\/64.2-912\/","token":"64.2\/III\/9\/64.2-912","metadata":false},{"id":68794,"structure_id":13564,"section_number":"64.2-913","catch_line":"Expenses, compensation, and bond of custodial trustee","url":"\/64.2-913\/","token":"64.2\/III\/9\/64.2-913","metadata":false},{"id":67869,"structure_id":13564,"section_number":"64.2-914","catch_line":"Reporting and accounting by custodial trustee; determination of liability","url":"\/64.2-914\/","token":"64.2\/III\/9\/64.2-914","metadata":false},{"id":61760,"structure_id":13564,"section_number":"64.2-915","catch_line":"Limitations of action against custodial trustee","url":"\/64.2-915\/","token":"64.2\/III\/9\/64.2-915","metadata":false},{"id":58406,"structure_id":13564,"section_number":"64.2-916","catch_line":"Distribution on termination","url":"\/64.2-916\/","token":"64.2\/III\/9\/64.2-916","metadata":false},{"id":75814,"structure_id":13564,"section_number":"64.2-917","catch_line":"Methods and forms for creating custodial trusts","url":"\/64.2-917\/","token":"64.2\/III\/9\/64.2-917","metadata":false},{"id":71807,"structure_id":13564,"section_number":"64.2-918","catch_line":"Applicable law","url":"\/64.2-918\/","token":"64.2\/III\/9\/64.2-918","metadata":false}],"previous_section":{"id":60757,"structure_id":13564,"section_number":"64.2-911","catch_line":"Liability to third person; exceptions","url":"\/64.2-911\/","token":"64.2\/III\/9\/64.2-911","metadata":false},"next_section":{"id":68794,"structure_id":13564,"section_number":"64.2-913","catch_line":"Expenses, compensation, and bond of custodial trustee","url":"\/64.2-913\/","token":"64.2\/III\/9\/64.2-913","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/64.2-912\/","history_text":"

This law was first created in 1990. The record of its establishment is cataloged in chapter 264 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. Unfortunately, the 1990 \u201cActs\u201d aren\u2019t available online. It has been modified 2 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 1997, chapter 80<\/a>; in 2012, chapter 614<\/a>.<\/p>","references":false,"refers_to":[{"id":74644,"section_number":"64.2-902","catch_line":"Custodial trustee for future payment or transfer","order_by":null,"url":"\/64.2-902\/"}],"permalink":{"id":274785,"object_type":"law","relational_id":84334,"identifier":"64.2-912","token":"64.2\/III\/9\/64.2-912","url":"\/64.2-912\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/64.2-912\/","token":"64.2\/III\/9\/64.2-912","dublin_core":{"Title":"Declination, resignation, incapacity, death, or removal of custodial trustee; designation of successor","Type":"Text","Format":"text\/html","Identifier":"\u00a7 64.2-912","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> Before accepting the custodial trust property<\/span>, a person<\/span> designated as custodial trustee<\/span> may decline to serve by notifying the person<\/span> who made the designation, the transferor<\/span>, or the transferor<\/span>’s legal representative<\/span>. If an event giving rise to a transfer has not occurred, the substitute custodial trustee<\/span> designated under § 64.2-902<\/a> becomes the custodial trustee<\/span>, or, if a substitute custodial trustee<\/span> has not been designated, the person<\/span> who made the designation may designate a substitute custodial trustee<\/span> pursuant to § 64.2-902<\/a>. In other cases, the transferor<\/span> or the transferor<\/span>’s legal representative<\/span> may designate a substitute custodial trustee<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> A custodial trustee<\/span> who has accepted the custodial trust property<\/span> may resign by (i) delivering written notice to a successor custodial trustee<\/span>, if any, the beneficiary<\/span>, and, if the beneficiary<\/span> is incapacitated<\/span>, to the beneficiary<\/span>’s conservator<\/span>, if any, and (ii) transferring or registering, or recording an appropriate instrument relating to, the custodial trust property<\/span>, in the name of, and delivering the records to, the successor custodial trustee<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> If a custodial trustee<\/span> or successor custodial trustee<\/span> is ineligible, resigns, dies, or becomes incapacitated<\/span>, the successor designated in accordance with the trust instrument or in accordance with § 64.2-902<\/a> becomes custodial trustee<\/span>. If there is no effective provision for a successor, the beneficiary<\/span>, if not incapacitated<\/span>, may designate a successor custodial trustee<\/span>. If the beneficiary<\/span> is incapacitated<\/span>, or fails to act within 90 days after the ineligibility, resignation, death, or incapacity of the custodial trustee<\/span>, the beneficiary<\/span>’s conservator<\/span> becomes successor custodial trustee<\/span>. If the beneficiary<\/span> does not have a conservator<\/span> or the conservator<\/span> fails to act, the resigning custodial trustee<\/span> may designate a successor custodial trustee<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

D.<\/span> If a successor custodial trustee<\/span> is not designated as provided in this section, the transferor<\/span>, the legal representative<\/span> of the transferor<\/span> or of the custodial trustee<\/span>, an adult<\/span> member of the beneficiary<\/span>’s family, the guardian<\/span> or conservator<\/span> of the beneficiary<\/span>, a person<\/span> interested in the custodial trust property<\/span>, or a person<\/span> interested in the welfare of the beneficiary<\/span> may petition<\/span> the court<\/span> to designate a successor custodial trustee<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

E.<\/span> A custodial trustee<\/span> who declines to serve or resigns, or the legal representative<\/span> of a deceased or incapacitated<\/span> custodial trustee<\/span>, as soon as practicable, shall put the custodial trust property<\/span> and records in the possession<\/span> and control of the successor custodial trustee<\/span>. The successor custodial trustee<\/span> may enforce the obligation to deliver custodial trust property<\/span> and records and becomes responsible for each item as received. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

F.<\/span> A beneficiary<\/span>, the beneficiary<\/span>’s conservator<\/span>, an adult<\/span> member of the beneficiary<\/span>’s family, a guardian<\/span> of the beneficiary<\/span>, a person<\/span> interested in the custodial trust property<\/span>, or a person<\/span> interested in the welfare of the beneficiary<\/span> may petition<\/span> the court<\/span> to remove the custodial trustee<\/span> for cause and designate a successor custodial trustee<\/span>, to require the custodial trustee<\/span> to furnish a bond<\/span> or other security for the faithful performance of fiduciary<\/span> duties, or for other appropriate relief. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nDECLINATION, RESIGNATION, INCAPACITY, DEATH, OR REMOVAL OF CUSTODIAL TRUSTEE;\nDESIGNATION OF SUCCESSOR (\u00a7 64.2-912)\n\nA. Before accepting the custodial trust property, a person designated as\ncustodial trustee may decline to serve by notifying the person who made the\ndesignation, the transferor, or the transferor’s legal representative. If\nan event giving rise to a transfer has not occurred, the substitute custodial\ntrustee designated under § 64.2-902 becomes the custodial trustee, or, if a\nsubstitute custodial trustee has not been designated, the person who made the\ndesignation may designate a substitute custodial trustee pursuant to §\n64.2-902. In other cases, the transferor or the transferor’s legal\nrepresentative may designate a substitute custodial trustee.\n\nB. A custodial trustee who has accepted the custodial trust property may resign\nby (i) delivering written notice to a successor custodial trustee, if any, the\nbeneficiary, and, if the beneficiary is incapacitated, to the\nbeneficiary’s conservator, if any, and (ii) transferring or registering,\nor recording an appropriate instrument relating to, the custodial trust\nproperty, in the name of, and delivering the records to, the successor custodial\ntrustee.\n\nC. If a custodial trustee or successor custodial trustee is ineligible, resigns,\ndies, or becomes incapacitated, the successor designated in accordance with the\ntrust instrument or in accordance with § 64.2-902 becomes custodial\ntrustee. If there is no effective provision for a successor, the beneficiary, if\nnot incapacitated, may designate a successor custodial trustee. If the\nbeneficiary is incapacitated, or fails to act within 90 days after the\nineligibility, resignation, death, or incapacity of the custodial trustee, the\nbeneficiary’s conservator becomes successor custodial trustee. If the\nbeneficiary does not have a conservator or the conservator fails to act, the\nresigning custodial trustee may designate a successor custodial trustee.\n\nD. If a successor custodial trustee is not designated as provided in this\nsection, the transferor, the legal representative of the transferor or of the\ncustodial trustee, an adult member of the beneficiary’s family, the\nguardian or conservator of the beneficiary, a person interested in the custodial\ntrust property, or a person interested in the welfare of the beneficiary may\npetition the court to designate a successor custodial trustee.\n\nE. A custodial trustee who declines to serve or resigns, or the legal\nrepresentative of a deceased or incapacitated custodial trustee, as soon as\npracticable, shall put the custodial trust property and records in the\npossession and control of the successor custodial trustee. The successor\ncustodial trustee may enforce the obligation to deliver custodial trust property\nand records and becomes responsible for each item as received.\n\nF. A beneficiary, the beneficiary’s conservator, an adult member of the\nbeneficiary’s family, a guardian of the beneficiary, a person interested\nin the custodial trust property, or a person interested in the welfare of the\nbeneficiary may petition the court to remove the custodial trustee for cause and\ndesignate a successor custodial trustee, to require the custodial trustee to\nfurnish a bond or other security for the faithful performance of fiduciary\nduties, or for other appropriate relief.\n\nHISTORY: 1990, c. 264, \u00a7 55-34.13; 1997, c. 80; 2012, c. 614.","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}}