Code of Virginia - Title 31 Guardian And Ward - Section 31-41 Transfer authorized by will or trust

§ 31-41. Transfer authorized by will or trust

A personal representative or trustee may make an irrevocable transfer pursuant to § 31-45 to a custodian for the benefit of a minor as authorized in the governing will or trust. If the testator or settlor has nominated a custodian under § 31-39 to receive the custodial property, the transfer must be made to that person.

If the testator or settlor has not nominated a custodian under § 31-39 or all persons so nominated as custodian die before the transfer or are unable, decline, or are ineligible to serve, the personal representative or the trustee shall designate the custodian from among those eligible to serve as custodian for property of that kind under subsection A of § 31-45.

(1988, c. 516.)

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Last modified: April 16, 2009