Code of Virginia (Last Updated:July 28, 2020) |
TITLE 64.2. Wills, Trusts, and Fiduciaries |
SUBTITLE III. Trusts |
CHAPTER 7. Uniform Trust Code |
ARTICLE 8.1. Uniform Trust Decanting Act |
SECTION 64.2-779.3. Application; governing law |
This article applies to a trust created before, on, or after July 1, 2017, that: 1. Has its principal place of administration in the Commonwealth, including a trust whose principal place of administration has been changed to the Commonwealth; or 2. Provides by its trust instrument that it is governed by the law of the Commonwealth or is governed by the law of the Commonwealth for the purpose of: a. Administration, including administration of a trust whose governing law for purposes of administration has been changed to the law of the Commonwealth; b. Construction of terms of the trust; or c. Determining the meaning or effect of terms of the trust. 2017, c. 592 . |