Virginia § 64.2-1043 Unitrust policy

Virginia Statutes

§ 64.2-1043 — Unitrust policy

Virginia § 64.2-1043

JurisdictionVirginia

Title 64.2Wills, Trusts, and Fiduciaries

Subtitle IIITrusts

Ch. 10.1Uniform Fiduciary Income And Principal Act

Art. 3Unitrust

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Bluebook

Va. Code Ann. § 64.2-1043 (2026).

Text

A.In administering a unitrust under this article, a fiduciary shall follow a unitrust policy adopted under subdivision A 1 or 2 of § 64.2-1041 or amended or replaced under subdivision A 2 of § 64.2-1041.

B.A unitrust policy shall provide:

1.The unitrust rate or the method for determining the unitrust rate under § 64.2-1044;

2.The method for determining the applicable value under § 64.2-1045; and

3.The rules described in §§ 64.2-1044 through 64.2-1047 that apply in the administration of the unitrust, whether the rules are:

a.Mandatory, as provided in subsection A of § 64.2-1045 and subsection A of § 64.2-1046; or

b.Optional, as provided in § 64.2-1044, subsection B of § 64.2-1045, subsection B of § 64.2-1046, and subsection A of § 64.2-1047, to the extent the fiduciary elects t

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A. In administering a unitrust under this article, a fiduciary shall follow a unitrust policy adopted under subdivision A 1 or 2 of § 64.2-1041 or amended or replaced under subdivision A 2 of § 64.2-1041.

B. A unitrust policy shall provide:

1. The unitrust rate or the method for determining the unitrust rate under § 64.2-1044;

2. The method for determining the applicable value under § 64.2-1045; and

3. The rules described in §§ 64.2-1044 through 64.2-1047 that apply in the administration of the unitrust, whether the rules are:

a. Mandatory, as provided in subsection A of § 64.2-1045 and subsection A of § 64.2-1046; or

b. Optional, as provided in § 64.2-1044, subsection B of § 64.2-1045, subsection B of § 64.2-1046, and subsection A of § 64.2-1047, to the extent the fiduciary elects to adopt those rules.