                                 CODE OF VIRGINIA

CHANGE IN COMPENSATION (§ 64.2-779.13)

A. If a first-trust instrument specifies an authorized fiduciary&#8217;s
compensation, the fiduciary may not exercise the decanting power to increase the
fiduciary&#8217;s compensation above the specified compensation unless:

   1. All qualified beneficiaries of the second trust consent to the increase in
   a signed record; or

   2. The increase is approved by the court.

B. If a first-trust instrument does not specify an authorized fiduciary&#8217;s
compensation, the fiduciary may not exercise the decanting power to increase the
fiduciary&#8217;s compensation above the compensation permitted by this chapter
unless:

   1. All qualified beneficiaries of the second trust consent to the increase in
   a signed record; or

   2. The increase is approved by the court.

C. A change in an authorized fiduciary&#8217;s compensation that is incidental
to other changes made by the exercise of the decanting power is not an increase
in the fiduciary&#8217;s compensation for purposes of subsections A and B.

HISTORY: 2017, c. 592.