Public-domain · open source
OpenJurist

Va. Code Ann. § 64.2-730

Modification or termination because of unanticipated circumstances or inability to administer trust effectively

Applied in 1 court decision — leading case In re Estate of Brown (2013)

Most recently applied in In re Estate of Brown (December 2013)

2005, c. 935, § 55-544.12; 2012, c. 614.

A. The court may modify the administrative or dispositive terms of a trust or terminate the trust if, because of circumstances not anticipated by the settlor, modification or termination will further the purposes of the trust. To the extent practicable, the modification shall be made in accordance with the settlor's probable intention.

B. The court may modify the administrative terms of a trust if continuation of the trust on its existing terms would be impracticable or wasteful or impair the trust's administration.

C. Upon termination of a trust under this section, the trustee shall distribute the trust property in a manner consistent with the purposes of the trust.

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