55-547.06 - Removal of trustee. - Virginia Statutes

§ 55-547.06. Removal of trustee.

A. The settlor, a cotrustee, or a beneficiary, or in the case of a charitabletrust, the Attorney General, may petition the court to remove a trustee, or atrustee may be removed by the court on its own initiative.

B. The court may remove a trustee if:

1. The trustee has committed a serious breach of trust;

2. Lack of cooperation among cotrustees substantially impairs theadministration of the trust;

3. Because of unfitness, unwillingness, or persistent failure of the trusteeto administer the trust effectively, the court determines that removal of thetrustee best serves the interests of the beneficiaries; or

4. There has been a substantial change of circumstances or removal isrequested by all of the qualified beneficiaries, the court finds that removalof the trustee best serves the interests of all of the beneficiaries and isnot inconsistent with a material purpose of the trust, and a suitablecotrustee or successor trustee is available.

C. Pending a final decision on a request to remove a trustee, or in lieu ofor in addition to removing a trustee, the court may order such appropriaterelief under subsection B of § 55-550.01 as may be necessary to protect thetrust property or the interests of the beneficiaries.

(2005, c. 935.)