Virginia § 64.2-732 - Modification or termination of uneconomic trust
Full text of Virginia Code of Virginia § 64.2-732 — Modification or termination of uneconomic trust, with citation guidance and answers to common questions.
§ 64.2-732. Modification or termination of uneconomic trust
A. After notice to the qualified beneficiaries, the trustee of a trust consisting of trust property having a total value less than $250,000 may terminate the trust without court approval if the trustee concludes that the value of the trust property is insufficient to justify the cost of administration. Notice required by this section shall be sent in accordance with § 64.2-707.
B. The court may modify or terminate a trust or remove the trustee and appoint a different trustee if it determines that the value of the trust property is insufficient to justify the cost of administration.
C. Upon termination of a trust under this section, the trustee shall distribute the trust property in a manner consistent with the purposes of the trust and may simultaneously utilize the provisions of § 64.2-779.
D. This section does not apply to an easement for conservation or preservation.
E. Expenses incurred by the trustee incident to the termination of a trust pursuant to this section shall be paid by the trust estate.
2005, c. 935, § 55-544.14; 2012, c. 614; 2024, cc. 282, 336; 2025, c. 148.
Source: official Virginia text · Last verified 2026-08-27
Frequently Asked Questions About Virginia § 64.2-732
What does Code of Virginia § 64.2-732 cover?
Section 64.2-732 ("Modification or termination of uneconomic trust") is part of the Code of Virginia, the codified statutory law of Virginia. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Virginia § 64.2-732?
A common citation format is "Code of Virginia § 64.2-732" (Virginia). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Virginia law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Virginia official source linked on this page or consult a licensed Virginia attorney.
How does Virginia § 64.2-732 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Virginia can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Virginia.