Fabio
96 lines
6.8 KiB
Markdown
96 lines
6.8 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 of accounts if the trustee sends the beneficiary notice and certainrequired accounting statements and the beneficiary does not objectwithin 45 days after the trustee sends such notice. The bill provides that if a beneficiary or other party who received such notice andstatements 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: "SB 566"
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citation: "Virginia SB 566 (2024)"
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classification: ["bill"]
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subjects: []
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status: "enacted"
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primary_sponsors: ["R. Creigh Deeds"]
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version_count: 4
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action_count: 31
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vote_count: 6
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first_action: "2024-01-10"
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last_action: "2024-04-05"
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source: "openstates"
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source_identifier: "ocd-bill/61fd3888-76b1-4c18-9fb1-f6fa6d5360c3"
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source_url: "https://lis.virginia.gov/cgi-bin/legp604.exe?241+sum+SB566"
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source_hash: "66a32dbaeeb1e46e621e12fdad7c8603f168269de704ca7a707e7be05d42dbb5"
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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 SB 566 (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 of accounts if the trustee sends the beneficiary notice and certainrequired accounting statements and the beneficiary does not objectwithin 45 days after the trustee sends such notice. The bill provides that if a beneficiary or other party who received such notice andstatements 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. **CHAP0600** (committee substitute) — [source](https://lis.virginia.gov/cgi-bin/legp604.exe?241+ful+CHAP0600)
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2. **Committee substitute printed 24106625D-S1** (committee substitute) — [source](https://lis.virginia.gov/cgi-bin/legp604.exe?241+ful+SB566S1)
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3. **Prefiled and ordered printed; offered 01/10/24 24101324D** (committee substitute) — [source](https://lis.virginia.gov/cgi-bin/legp604.exe?241+ful+SB566)
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4. **SB566ER** (committee substitute) — [source](https://lis.virginia.gov/cgi-bin/legp604.exe?241+ful+SB566ER)
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## Votes
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- Passed Senate (40-Y 0-N) — **40–0** (pass) · upper
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- Reported from Courts of Justice (21-Y 0-N) — **21–0** (pass) · lower
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- Constitutional reading dispensed (40-Y 0-N) — **40–0** (pass) · upper
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- Reported from Courts of Justice with substitute (15-Y 0-N) — **15–0** (pass) · upper
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- Constitutional reading dispensed (40-Y 0-N) — **40–0** (pass) · upper
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- VOTE: Block Vote Passage (97-Y 0-N) — **96–0** (pass) · lower
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## Sponsors
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- R. Creigh Deeds — primary (person)
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## Timeline
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The legislative action history — every referral, reading, and vote.
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- **2024-01-10** Prefiled and ordered printed; offered 01/10/24 24101324D `filing, introduction`
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- **2024-01-10** Referred to Committee for Courts of Justice `referral-committee`
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- **2024-02-05** Impact statement from SCC (SB566)
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- **2024-02-12** Senate committee, floor amendments and substitutes offered
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- **2024-02-12** Reported from Courts of Justice with substitute (15-Y 0-N) `committee-passage`
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- **2024-02-12** Committee substitute printed 24106625D-S1 `substitution`
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- **2024-02-13** Read second time `reading-2`
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- **2024-02-13** Reading of substitute waived
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- **2024-02-13** Committee substitute agreed to 24106625D-S1 `substitution`
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- **2024-02-13** Engrossed by Senate - committee substitute SB566S1 `substitution`
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- **2024-02-13** Constitutional reading dispensed (40-Y 0-N)
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- **2024-02-13** Passed Senate (40-Y 0-N) `passage`
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- **2024-02-13** Constitutional reading dispensed (40-Y 0-N)
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- **2024-02-16** Placed on Calendar
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- **2024-02-16** Read first time `reading-1`
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- **2024-02-16** Referred to Committee for Courts of Justice `referral-committee`
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- **2024-02-19** Impact statement from SCC (SB566S1)
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- **2024-02-23** Reported from Courts of Justice (21-Y 0-N) `committee-passage`
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- **2024-02-27** Read second time `reading-2`
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- **2024-02-28** Read third time `reading-3`
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- **2024-02-28** Passed House BLOCK VOTE (97-Y 0-N) `passage`
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- **2024-02-28** VOTE: Block Vote Passage (97-Y 0-N) `passage`
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- **2024-03-04** Enrolled `enrolled`
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- **2024-03-04** Bill text as passed Senate and House (SB566ER) `passage`
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- **2024-03-04** Signed by Speaker `passage`
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- **2024-03-07** Signed by President `passage`
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- **2024-03-08** Impact statement from SCC (SB566ER)
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- **2024-03-11** Enrolled Bill Communicated to Governor on March 11, 2024 `enrolled`
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- **2024-03-11** Governor's Action Deadline 11:59 p.m., April 8, 2024 `executive-receipt`
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- **2024-04-05** Approved by Governor-Chapter 600 (effective 7/1/24) `executive-signature`
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- **2024-04-05** Acts of Assembly Chapter text (CHAP0600)
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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/61fd3888-76b1-4c18-9fb1-f6fa6d5360c3`. Confidence: reported (aggregated from official Virginia legislature records).
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