                                 CODE OF VIRGINIA

DISBURSEMENT FROM INCOME (§ 64.2-1064)

Subject to § 64.2-1067, and except as otherwise provided in subdivision C 2 or
3 of § 64.2-1071, a fiduciary shall disburse from income:

1. One-half of:
			a. 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
			b. 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. 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;

3. 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

4. A premium on insurance covering loss of a principal asset or income from or
use of the asset.

HISTORY: 2022, c. 354.