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The office · 5 min lekti
Deciding together
Cotrustees who are unable to reach a unanimous decision may act by majority decision, and on a vacancy the remaining cotrustees may act for the trust (Va. Code § 64.2-756). A cotrustee participates in the performance of a trustee's function unless unavailable because of absence, illness, disqualification or other temporary incapacity, or having properly delegated the function to another trustee; where a cotrustee is unavailable and prompt action is needed, the others may act.
Delegation, and the duty to watch
A trustee may delegate to a cotrustee any function the terms do not expressly require the trustees to perform jointly, and may revoke a revocable delegation (Va. Code § 64.2-756). A trustee who does not join in another trustee's action is not liable for it, but each trustee exercises reasonable care to prevent a cotrustee from committing a serious breach of trust and to compel a cotrustee to redress one.
The dissent
A dissenting trustee who joins in an action at the majority's direction, and who notified any cotrustee of the dissent at or before the action, is not liable for it unless it is a serious breach of trust (Va. Code § 64.2-756). The terms may relieve a cotrustee of duty and liability for another cotrustee's power to the extent a directed trustee is relieved (Va. Code § 64.2-779.32).
When a cotrustee leaves
A vacancy need not be filled while a cotrustee remains (Va. Code § 64.2-757). A trustee may resign on at least 30 days' notice to the living settlor, all cotrustees and the qualified beneficiaries (Va. Code § 64.2-758), and the court may remove a trustee where lack of cooperation among cotrustees substantially impairs the administration (Va. Code § 64.2-759). How a particular decision should be recorded, and whether a dissent protects, are questions for a licensed Virginia attorney of your choosing.
Lwa yo, mo pou mo
Cotrustees
Va. Code § 64.2-756 ↗Eksplikasyon klè e senp; tèks egzak lwa a poko ateste nan bibliyotèk nou an. Gade lwa ofisyèl la nan lyen ki anwo a.
Vacancy in trusteeship; appointment of successor
Va. Code § 64.2-757 ↗Eksplikasyon klè e senp; tèks egzak lwa a poko ateste nan bibliyotèk nou an. Gade lwa ofisyèl la nan lyen ki anwo a.
Resignation of trustee
Va. Code § 64.2-758 ↗Eksplikasyon klè e senp; tèks egzak lwa a poko ateste nan bibliyotèk nou an. Gade lwa ofisyèl la nan lyen ki anwo a.
Removal of trustee
Va. Code § 64.2-759 ↗Eksplikasyon klè e senp; tèks egzak lwa a poko ateste nan bibliyotèk nou an. Gade lwa ofisyèl la nan lyen ki anwo a.
Kesyon moun poze souvan
Must Virginia cotrustees agree unanimously?
No. Cotrustees unable to reach a unanimous decision may act by majority decision (Va. Code § 64.2-756).
Is a Virginia cotrustee liable for the others' acts?
Not for an action the trustee did not join, but each exercises reasonable care to prevent a cotrustee's serious breach of trust and to compel redress (Va. Code § 64.2-756).
What happens when a Virginia cotrustee resigns?
The remaining cotrustees may act, and the vacancy need not be filled while a cotrustee remains (Va. Code §§ 64.2-756, 64.2-757).
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