Virginia Code 64.2-779.3: Application; governing law.
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This article applies to a trust created before, on, or after July 1, 2017, that:
Terms Used In Virginia Code 64.2-779.3
- Trust instrument: means a record executed by the settlor to create a trust or by any person to create a second trust that contains some or all of the terms of the trust, including any amendments. See Virginia Code 64.2-701
1. Has its principal place of administration in the Commonwealth, including a trust whose principal place of administration has been changed to the Commonwealth; or
2. Provides by its trust instrument that it is governed by the law of the Commonwealth or is governed by the law of the Commonwealth for the purpose of:
a. Administration, including administration of a trust whose governing law for purposes of administration has been changed to the law of the Commonwealth;
b. Construction of terms of the trust; or
c. Determining the meaning or effect of terms of the trust.
2017, c. 592.