A. After notice to the qualified beneficiaries, the trustee of a trust consisting of trust property having a total value less than $100,000 may terminate the trust if the trustee concludes that the value of the trust property is insufficient to justify the cost of administration.\nB. The court may modify or terminate a trust or remove the trustee and appoint a different trustee if it determines that the value of the trust property is insufficient to justify the cost of administration.\nC. Upon termination of a trust under this section, the trustee shall distribute the trust property in a manner consistent with the purposes of the trust.\nD. This section does not apply to an easement for conservation or preservation.\n2005, c. 935, § 55-544.14; 2012, c. 614.
Virginia Legal Code