                                 CODE OF VIRGINIA

OTHER TRANSFER BY FIDUCIARY (§ 64.2-1905)

A. Subject to subsection C, a personal representative or trustee may make an
irrevocable transfer to an adult or trust company as custodian for the benefit
of a minor pursuant to &#xA7; 64.2-1908 in the absence of a will or under a will
or trust that does not contain an authorization to do so.

B. Subject to subsection C, a conservator may make an irrevocable transfer to an
adult or trust company as custodian for the benefit of the minor pursuant to
&#xA7; 64.2-1908.

C. A transfer under either subsection A or B may be made only if (i) the
personal representative, trustee, or conservator considers the transfer to be in
the best interest of the minor, (ii) the transfer is not prohibited by or
inconsistent with provisions of the applicable will, trust agreement, or other
governing instrument, and (iii) the transfer is authorized by the court if it
exceeds $35,000 in value or is made by a conservator.

HISTORY: 1988, c. 516, § 31-42; 2012, c. 614; 2014, c. 532; 2025, c. 148.