                                 CODE OF VIRGINIA

LATER-DISCOVERED PROPERTY (§ 64.2-779.23)

A. Except as otherwise provided in subsection C, if exercise of the decanting
power was intended to distribute all the income or principal of the first trust
to one or more second trusts, later-discovered property belonging to the first
trust and property paid to or acquired by the first trust after the exercise of
the power is part of the trust estate of the second trust or trusts.

B. Except as otherwise provided in subsection C, if exercise of the decanting
power was intended to distribute less than all the income or principal of the
first trust to one or more second trusts, later-discovered property belonging to
the first trust or property paid to or acquired by the first trust after
exercise of the power remains part of the trust estate of the first trust.

C. An authorized fiduciary may provide in an exercise of the decanting power or
by the terms of a second trust for disposition of later-discovered property
belonging to the first trust or property paid to or acquired by the first trust
after exercise of the power.

HISTORY: 2017, c. 592.