2010 Code of Virginia
Chapter 31 - Uniform Trust Code (55-541.01 thru 55-551.06)
55-544.01 - Methods of creating trust.

§ 55-544.01. Methods of creating trust.

A trust may be created by:

1. Transfer of property to another person as trustee during the settlor's lifetime by the settlor or by the settlor's agent, acting in accordance with § 26-85, under a power of attorney, which expressly authorizes the agent to create a trust on settlor's behalf; or by will or other disposition taking effect upon the settlor's death;

2. Declaration by the owner of property that the owner holds identifiable property as trustee; or

3. Exercise of a power of appointment in favor of a trustee.

(2005, c. 935; 2010, cc. 455, 632.)

Disclaimer: These codes may not be the most recent version. Virginia may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.