Allows any legal entity authorized by law to act as a trustee to serve as a qualified trustee of a self-settled spendthrift trust. Under current law, only a natural person who resides in the Commonwealth or a legal entity authorized to engage in trust business (i.e., a bank or trust company) may serve as a qualified trustee. The bill would expand the definition of "independent qualified trustee" and "qualified trustee" to include entities such as law firms and charitable organizations, when such entities are authorized by law to act as trustees.

introduced · Virginia · House of Delegates Jan 27, 2017

Virginia Bills

HR 325: Celebrating the life of Calvin H. Thigpen, Sr. M.D.

HR 323: Commending the Rustburg High School baseball team.

HR 318: Commending the Lebanon High School softball team.

HR 324: Celebrating the life of Donald Fitzgerald Reilly.

HR 337: Commending James T. Rogers.

HB 2372: Firearm transactions; voluntary background checks, clarification of provisions.

HR 322: Commending the Appomattox Dixie Youth Baseball boys' all-star team.

HB 1448: Self-settled spendthrift trusts; certain legal entities to act as qualified trustee.

HR 317: Commending the Dinwiddie Darlings softball team.

HB 1983: School calendar; opening day of school year.

HR 331: Commending Melissa D. Hensley.

HR 315: Celebrating the life of Fred Walker Callis, Sr.

Virginia Bills

Bill results