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§ 64.2-711. By accepting the trusteeship of a trust having its principal place of administration in the Commonwealth or by moving the principal place of administration to the Commonwealth, the trustee submits personally to the jurisdiction of the courts of the Commonwealth regarding any matter involving the trust.

To make a living trust in Virginia, you: Choose whether to make an individual or shared trust. Decide what property to include in the trust. Choose a successor trustee. Decide who will be the trust's beneficiaries—that is, who will get the trust property. Create the trust document.

Duty to inform and report. A. A trustee shall keep the qualified beneficiaries of the trust reasonably informed about the administration of the trust and of the material facts necessary for them to protect their interests.

The Disadvantage of a Revocable Living Trust Complexity: Managing a trust requires ongoing paperwork and record-keeping, which can be burdensome and time-consuming.

The circuit court or the circuit court clerk of any county or city in which a minor resides or, if the minor is an out-of-state resident, in which the minor has any estate may appoint a guardian for the estate of the minor and may appoint a guardian for the person of the minor unless a guardian has been appointed for ...

Testators frequently incorporate the fiduciary powers set forth in Virginia Code § 64.2-105, which includes the power of sale. A fiduciary who qualifies before the court accepts the powers and duties set forth in the will.

Common non-probate assets include: Life insurance proceeds or pension benefits payable to a named beneficiary. Assets such as a home owned with someone else in joint tenancy or tenancy by the entirety. Assets with a listed beneficiary outside of the deceased person's will such as an IRA or payable-on-death bank account.

Revocation or amendment of revocable trust. A. Unless the terms of a trust expressly provide that the trust is irrevocable, the settlor may revoke or amend the trust.

If there has been no qualification of a personal representative within 30 days following the decedent's death, a list of heirs, made under oath in ance with the form provided to each clerk or a computer-generated facsimile thereof, may be filed by any heir at law of a decedent who died intestate.