55-547.09 - Reimbursement of expenses. - Virginia Statutes

§ 55-547.09. Reimbursement of expenses.

A. A trustee is entitled to be reimbursed out of the trust property, withinterest as appropriate, for:

1. Expenses that were properly incurred in the administration of the trust;and

2. To the extent necessary to prevent unjust enrichment of the trust,expenses that were not properly incurred in the administration of the trust.

B. An advance by the trustee of money for the protection of the trust givesrise to a lien against trust property to secure reimbursement with reasonableinterest.

(2005, c. 935.)