55-548.15 - General powers of trustee. - Virginia Statutes

§ 55-548.15. General powers of trustee.

A. A trustee, without authorization by the court, may exercise:

1. Powers conferred by the terms of the trust; and

2. Except as limited by the terms of the trust:

a. All powers over the trust property that an unmarried competent owner hasover individually owned property;

b. Any other powers appropriate to achieve the proper investment, management,and distribution of the trust property; and

c. Any other powers conferred by this chapter.

B. The exercise of a power is subject to the fiduciary duties prescribed bythis article.

C. Any reference in a trust instrument incorporating the powers authorizedunder § 64.1-57 shall not be construed to limit powers a trustee may exercisepursuant to this section, unless the settlor expressly states in the trustinstrument that such reference should be so construed.

(2005, c. 935.)