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Code of Virginia (Last Updated:July 28, 2020) |
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TITLE 64.2. Wills, Trusts, and Fiduciaries |
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SUBTITLE III. Trusts |
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CHAPTER 7. Uniform Trust Code |
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ARTICLE 8. Duties and Powers of Trustee |
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SECTION 64.2-766. Prudent administration |
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A trustee shall administer the trust as a prudent person would, by considering the purposes, terms, distributional requirements, and other circumstances of the trust. In satisfying this standard, the trustee shall exercise reasonable care, skill, and caution. |