Virginia § 64.2-916 - Distribution on termination
Full text of Virginia Code of Virginia § 64.2-916 — Distribution on termination, with citation guidance and answers to common questions.
§ 64.2-916. Distribution on termination
A. Upon termination of a custodial trust, the custodial trustee shall transfer the unexpended custodial trust property as follows:
1. To the beneficiary, if not incapacitated or deceased;
2. To the conservator or such other recipient as is designated by the court for an incapacitated beneficiary; or
3. Upon the beneficiary's death, in the following order:
a. As last directed in writing signed by the deceased beneficiary while not incapacitated and received by the custodial trustee during the life of the deceased beneficiary;
b. To the survivor of multiple beneficiaries if survivorship is provided for pursuant to § 64.2-905;
c. As designated in the instrument creating the custodial trust; or
d. To the estate of the deceased beneficiary.
B. If, when the custodial trust would otherwise terminate, the distributee is incapacitated, the custodial trust continues for the use and benefit of the distributee as beneficiary until the incapacity is removed or the custodial trust is otherwise terminated.
C. Death of the beneficiary does not terminate the power of the custodial trustee to discharge obligations of the custodial trustee or beneficiary incurred before the termination of the custodial trust.
1990, c. 264, § 55-34.17; 2012, c. 614.
Frequently Asked Questions About Virginia § 64.2-916
What does Code of Virginia § 64.2-916 cover?
Section 64.2-916 ("Distribution on termination") 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 § 64.2-916?
A common citation format is "Code of Virginia § 64.2-916" (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 § 64.2-916 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.