                                 CODE OF VIRGINIA

REVOCATION OR AMENDMENT OF REVOCABLE TRUST (§ 64.2-751)

A. Unless the terms of a trust expressly provide that the trust is irrevocable,
the settlor may revoke or amend the trust. This subsection does not apply to a
trust created under an instrument executed before July 1, 2006.

B. If a revocable trust is created or funded by more than one settlor:

   1. To the extent the trust consists of community property, the trust may be
   revoked by either spouse acting alone but may be amended only by joint action
   of both spouses;

   2. To the extent the trust consists of property other than community property,
   each settlor may revoke or amend the trust with regard to the portion of the
   trust property attributable to that settlor&#8217;s contribution; and

   3. Upon the revocation or amendment of the trust by fewer than all of the
   settlors, the trustee shall promptly notify the other settlors of the
   revocation or amendment.

C. The settlor may revoke or amend a revocable trust:

   1. By substantial compliance with a method provided in the terms of the trust;
   or

   2. If the terms of the trust do not provide a method, by any method
   manifesting clear and convincing evidence of the settlor&#8217;s intent.

D. Upon revocation of a revocable trust, the trustee shall deliver the trust
property as the settlor directs.

E. A settlor&#8217;s powers with respect to revocation, amendment, or
distribution of trust property may be exercised by an agent, acting in
accordance with &#xA7; 64.2-1612, under a power of attorney that expressly
authorizes such action except to the extent expressly prohibited by the terms of
the trust.

F. A conservator of the settlor or, if no conservator has been appointed, a
guardian of the settlor may exercise a settlor&#8217;s powers with respect to
revocation, amendment, or distribution of trust property only (i) to the extent
expressly authorized by the terms of the trust or (ii) if authorized by the
court supervising the conservatorship or guardianship for good cause shown.

G. A trustee who does not know that a trust has been revoked or amended is not
liable to the settlor or settlor&#8217;s successors in interest for
distributions made and other actions taken on the assumption that the trust had
not been amended or revoked.

HISTORY: 2005, c. 935, § 55-546.02; 2010, cc. 455, 632; 2012, c. 614.