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<law><site_title>Virginia Decoded</site_title><site_url>https://vacode.org</site_url><law_id>83453</law_id><section_number>64.2-779.23</section_number><catch_line>Later-discovered property</catch_line><edition url="https://vacode.org/2025/" slug="2025" current="TRUE" last_updated="">2025</edition><structure><unit label="title" level="1" order_by="1" identifier="64.2">Wills, Trusts, and Fiduciaries</unit><unit label="subtitle" level="2" order_by="1" identifier="III">Trusts</unit><unit label="chapter" level="3" order_by="1" identifier="7">Uniform Trust Code</unit><unit label="article" level="4" order_by="1" identifier="8.1">Uniform Trust Decanting Act</unit></structure><text>
						<section id="A"><p><span class="prefix-number">A.</span> Except as otherwise provided in subsection C, if exercise of the <span class="dictionary">decanting power</span> was intended to distribute all the income or principal of the <span class="dictionary">first trust</span> to one or more <span class="dictionary">second trusts</span>, later-discovered <span class="dictionary">property</span> belonging to the <span class="dictionary">first trust</span> and <span class="dictionary">property</span> paid to or acquired by the <span class="dictionary">first trust</span> after the exercise of the power is part of the trust estate of the <span class="dictionary">second trust</span> or trusts. <a id="paragraph-299031" class="section-permalink" href="https://vacode.org/64.2-779.23/#A"><i class="fa fa-link"/></a></p></section>
						<section id="B"><p><span class="prefix-number">B.</span> Except as otherwise provided in subsection C, if exercise of the <span class="dictionary">decanting power</span> was intended to distribute less than all the income or principal of the <span class="dictionary">first trust</span> to one or more <span class="dictionary">second trusts</span>, later-discovered <span class="dictionary">property</span> belonging to the <span class="dictionary">first trust</span> or <span class="dictionary">property</span> paid to or acquired by the <span class="dictionary">first trust</span> after exercise of the power remains part of the trust estate of the <span class="dictionary">first trust</span>. <a id="paragraph-299032" class="section-permalink" href="https://vacode.org/64.2-779.23/#B"><i class="fa fa-link"/></a></p></section>
						<section id="C"><p><span class="prefix-number">C.</span> An <span class="dictionary">authorized fiduciary</span> may provide in an exercise of the <span class="dictionary">decanting power</span> or by the terms of a <span class="dictionary">second trust</span> for <span class="dictionary">disposition</span> of later-discovered <span class="dictionary">property</span> belonging to the <span class="dictionary">first trust</span> or <span class="dictionary">property</span> paid to or acquired by the <span class="dictionary">first trust</span> after exercise of the power. <a id="paragraph-299033" class="section-permalink" href="https://vacode.org/64.2-779.23/#C"><i class="fa fa-link"/></a></p></section></text><history>2017, c. 592.</history><metadata></metadata></law>
