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 SB 63.

Statutes affected:
House: Prefiled and ordered printed; offered 01/10/24 24102292D: 64.2-732
House: Committee substitute printed 24105569D-H1: 64.2-732
House: Bill text as passed House and Senate (HB332ER): 64.2-732
Governor: Acts of Assembly Chapter text (CHAP0282): 64.2-732