Fabio
102 lines
7.3 KiB
Markdown
102 lines
7.3 KiB
Markdown
---
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type: "Bill"
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title: "Trusts; release or ratification of trustee by beneficiary, response of beneficiary in writing."
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description: "Trustees; settlement of accounts; notice andstatements to beneficiaries; requirements. Provides that when(i) a trust terminates pursuant to the terms of the trust, (ii) atrust terminates early, (iii) a trustee resigns or is removed, or(iv) a trustee is seeking discharge of an interim account periodwhen the trust is continuing, a trustee may obtain a settlement ofaccounts if the trustee sends the beneficiary notice and certain required accounting statements and the beneficiary does not objectwithin 45 days after the trustee sends such notice. The bill providesthat if a beneficiary or other party who received such notice and statements properly objects, the trustee or qualified beneficiaryor other party shall either submit such objection in writing to thecourt for resolution or resolve the objection by a nonjudicial settlement agreement or other written agreement. The bill also provides thatwhen a qualified beneficiary has failed to object within the 45-dayperiod or consents to such action of the trustee, the beneficiary or other party is prohibited from bringing a claim against the trusteefor challenging the validity of (i) the trust or (ii) the periodof such interim accounts."
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jurisdiction: "us/states/va"
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legislature: "Virginia General Assembly"
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session: "2024"
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identifier: "HB 678"
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citation: "Virginia HB 678 (2024)"
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classification: ["bill"]
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subjects: []
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status: "enacted"
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primary_sponsors: ["James A. \"Jay\" Leftwich"]
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version_count: 4
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action_count: 36
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vote_count: 7
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first_action: "2024-01-09"
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last_action: "2024-04-04"
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source: "openstates"
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source_identifier: "ocd-bill/a6b936f5-47ee-4001-9264-96f9276c5419"
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source_url: "https://lis.virginia.gov/cgi-bin/legp604.exe?241+sum+HB678"
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source_hash: "a27062107bc44da556434f8e78059edd443366668da71cd95b4119a028e94b88"
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vintage: "2026-07-01"
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source_snapshot: "https://data.openstates.org/daily/2026-07-01/public.pgdump"
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retrieved_at: "2026-07-06"
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confidence: "reported"
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tags: ["legislation", "bill", "us-va"]
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---
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# Virginia HB 678 (2024) — Trusts; release or ratification of trustee by beneficiary, response of beneficiary in writing.
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Trustees; settlement of accounts; notice andstatements to beneficiaries; requirements. Provides that when(i) a trust terminates pursuant to the terms of the trust, (ii) atrust terminates early, (iii) a trustee resigns or is removed, or(iv) a trustee is seeking discharge of an interim account periodwhen the trust is continuing, a trustee may obtain a settlement ofaccounts if the trustee sends the beneficiary notice and certain required accounting statements and the beneficiary does not objectwithin 45 days after the trustee sends such notice. The bill providesthat if a beneficiary or other party who received such notice and statements properly objects, the trustee or qualified beneficiaryor other party shall either submit such objection in writing to thecourt for resolution or resolve the objection by a nonjudicial settlement agreement or other written agreement. The bill also provides thatwhen a qualified beneficiary has failed to object within the 45-dayperiod or consents to such action of the trustee, the beneficiary or other party is prohibited from bringing a claim against the trusteefor challenging the validity of (i) the trust or (ii) the periodof such interim accounts.
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## Version chain
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The bill's text revisions, in order — the diff chain from filing to enrollment.
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1. **CHAP0446** (committee substitute) — [source](https://lis.virginia.gov/cgi-bin/legp604.exe?241+ful+CHAP0446)
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2. **Committee substitute printed 24106497D-H1** (committee substitute) — [source](https://lis.virginia.gov/cgi-bin/legp604.exe?241+ful+HB678H1)
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3. **HB678ER** (committee substitute) — [source](https://lis.virginia.gov/cgi-bin/legp604.exe?241+ful+HB678ER)
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4. **Prefiled and ordered printed; offered 01/10/24 24101335D** (committee substitute) — [source](https://lis.virginia.gov/cgi-bin/legp604.exe?241+ful+HB678)
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## Votes
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- VOTE: Block Vote Passage (98-Y 0-N) — **97–0** (pass) · lower
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- Reported from Courts of Justice with substitute (21-Y 0-N) — **21–0** (pass) · lower
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- Passed Senate with amendments (40-Y 0-N) — **40–0** (pass) · upper
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- VOTE: Adoption (96-Y 0-N) — **95–0** (pass) · lower
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- Constitutional reading dispensed (39-Y 0-N) — **39–0** (pass) · upper
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- Reported from Courts of Justice with amendments (12-Y 0-N) — **12–0** (pass) · upper
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- Subcommittee recommends reporting with substitute (7-Y 1-N) — **7–1** (pass) · lower
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## Sponsors
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- James A. "Jay" Leftwich — primary (person)
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## Timeline
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The legislative action history — every referral, reading, and vote.
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- **2024-01-09** Prefiled and ordered printed; offered 01/10/24 24101335D `filing, introduction`
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- **2024-01-09** Referred to Committee for Courts of Justice `referral-committee`
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- **2024-01-25** Assigned Courts sub: Civil `referral-committee`
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- **2024-01-29** House subcommittee amendments and substitutes offered
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- **2024-01-29** Subcommittee recommends reporting with substitute (7-Y 1-N) `substitution`
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- **2024-02-01** Impact statement from SCC (HB678)
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- **2024-02-02** Reported from Courts of Justice with substitute (21-Y 0-N) `committee-passage`
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- **2024-02-02** Committee substitute printed 24106497D-H1 `substitution`
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- **2024-02-06** Read first time `reading-1`
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- **2024-02-07** Read second time `reading-2`
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- **2024-02-07** Committee substitute agreed to 24106497D-H1 `substitution`
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- **2024-02-07** Engrossed by House - committee substitute HB678H1 `substitution`
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- **2024-02-08** Read third time and passed House BLOCK VOTE (98-Y 0-N) `passage, reading-3`
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- **2024-02-08** VOTE: Block Vote Passage (98-Y 0-N) `passage`
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- **2024-02-09** Constitutional reading dispensed
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- **2024-02-09** Referred to Committee for Courts of Justice `referral-committee`
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- **2024-02-16** Impact statement from SCC (HB678H1)
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- **2024-02-19** Senate committee, floor amendments and substitutes offered
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- **2024-02-19** Reported from Courts of Justice with amendments (12-Y 0-N) `committee-passage`
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- **2024-02-20** Constitutional reading dispensed (39-Y 0-N)
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- **2024-02-21** Read third time `reading-3`
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- **2024-02-21** Reading of amendments waived
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- **2024-02-21** Committee amendments agreed to `amendment-passage`
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- **2024-02-21** Engrossed by Senate as amended
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- **2024-02-21** Passed Senate with amendments (40-Y 0-N) `passage`
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- **2024-02-23** Senate amendment agreed to by House (96-Y 0-N) `amendment-passage`
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- **2024-02-23** VOTE: Adoption (96-Y 0-N)
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- **2024-02-28** Enrolled `enrolled`
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- **2024-02-28** Bill text as passed House and Senate (HB678ER) `passage`
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- **2024-02-28** Signed by Speaker `passage`
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- **2024-03-02** Signed by President `passage`
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- **2024-03-05** Impact statement from SCC (HB678ER)
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- **2024-03-11** Enrolled Bill communicated to Governor on March 11, 2024 `enrolled, executive-receipt`
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- **2024-03-11** Governor's Action Deadline 11:59 p.m., April 8, 2024 `executive-receipt`
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- **2024-04-04** Approved by Governor-Chapter 446 (effective 7/1/24) `executive-signature`
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- **2024-04-04** Acts of Assembly Chapter text (CHAP0446)
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## Source
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OpenStates / OpenCivicData bulk snapshot [2026-07-01](https://data.openstates.org/daily/2026-07-01/public.pgdump); origin `ocd-bill/a6b936f5-47ee-4001-9264-96f9276c5419`. Confidence: reported (aggregated from official Virginia legislature records).
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