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Va. Code Ann. § 64.2-1060

Marital deduction property not productive of income

2022, c. 354.

A. If a trust received property for which a gift or estate tax marital deduction was allowed and the settlor's spouse holds a mandatory income interest in the trust, the spouse may require the trustee, to the extent the trust assets otherwise do not provide the spouse with sufficient income from or use of the trust assets to qualify for the deduction, to:

1. Make property productive of income;

2. Convert property to property productive of income within a reasonable time; or

3. Exercise the power to adjust under § 64.2-1038.

B. The trustee may decide which action or combination of actions in subsection A to take.

Official source: Virginia Law Portal (LIS). Reproduced from public-domain Virginia statutes; confirm against the official source for the current text. Not legal advice.