Termination of trust; notice requirements. Provides that a trustee seeking to terminate a trust consisting of trust property that has a total value of less than $100,000 may do so without a court order, provided that the trustee sends notice, as specified in the bill, to any qualified beneficiaries or cotrustees. This bill is identical to HB 332.

Statutes affected:
Senate: Prefiled and ordered printed; offered 01/10/24 24101044D: 64.2-732
Senate: Committee substitute printed 24105821D-S1: 64.2-732
Senate: Bill text as passed Senate and House (SB63ER): 64.2-732
Governor: Acts of Assembly Chapter text (CHAP0336): 64.2-732