Code of Virginia (Last Updated:July 28, 2020) |
TITLE 64.2. Wills, Trusts, and Fiduciaries |
SUBTITLE III. Trusts |
CHAPTER 7. Uniform Trust Code |
ARTICLE 8.2. Uniform Directed Trust Act |
SECTION 64.2-779.34. No duty to monitor, inform, or advise |
A. Unless the terms of a trust provide otherwise: 1. A trustee does not have a duty to: a. Monitor a trust director; or b. Inform or give advice to a settlor, beneficiary, trustee, or trust director concerning an instance in which the trustee might have acted differently than the trust director; and 2. By taking an action described in subdivision 1, a trustee does not assume the duty excluded by subdivision 1. B. Unless the terms of a trust provide otherwise: 1. A trust director does not have a duty to: a. Monitor a trustee or another trust director; or b. Inform or give advice to a settlor, beneficiary, trustee, or another trust director concerning an instance in which the trust director might have acted differently than a trustee or another trust director; and 2. By taking an action described in subdivision 1, a trust director does not assume the duty excluded by subdivision 1. 2020, c. 768 . |