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Comparison of Uniform Trust Code, DC Trust Code, Maryland Trust Act, and Virginia Trust Code, with Annotations

  • Preamble
  • Article 1
  • Article 2
  • Article 3
  • Article 4
  • Article 5
  • Article 6
  • Article 7
  • Article 8
  • UPIA-UTC Article 9
  • Article 10
  • Article 11
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A

MD §14.5-704 adds two additional circumstances in which a vacancy in trusteeship occurs. A vacancy occurs if a trustee cannot be located for 120 days or a trustee is unable to handle business affairs as determined by two licensed physicians. VA §64.2-757 adds one additional circumstance, which is the adjudication of the trustee as an incapacitated person.
MD §14.5-704 adds two additional circumstances in which a vacancy in trusteeship occurs. A vacancy occurs if a trustee cannot be located for 120 days or a trustee is unable to handle business affairs as determined by two licensed physicians. VA §64.2-757 adds one additional circumstance, which is the adjudication of the trustee as an incapacitated person.

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UTC

§ 704. Vacancy in trusteeship; appointment of successor.

(a) A vacancy in a trusteeship occurs if:
(1) a person designated as trustee rejects the trusteeship;
(2) a person designated as trustee cannot be identified or does not exist;
(3) a trustee resigns;
(4) a trustee is disqualified or removed;
(5) a trustee dies; or
(6) a [guardian] or [conservator] is appointed for an individual serving as trustee.
(b) If one or more cotrustees remain in office, a vacancy in a trusteeship need not be filled. A vacancy in a trusteeship must be filled if the trust has no remaining trustee.
(c) A vacancy in a trusteeship of a noncharitable trust that is required to be filled must be filled in the following order of priority:
(1) by a person designated in the terms of the trust to act as successor trustee;
(2) by a person appointed by unanimous agreement of the qualified beneficiaries; or
(3) by a person appointed by the court.
(d) A vacancy in a trusteeship of a charitable trust that is required to be filled must be filled in the following order of priority:
(1) by a person designated in the terms of the trust to act as successor trustee;
(2) by a person selected by the charitable organizations expressly designated to receive distributions under the terms of the trust [if the [attorney general] concurs in the selection]; or
(3) by a person appointed by the court.
(e) Whether or not a vacancy in a trusteeship exists or is required to be filled, the court may appoint an additional trustee or special fiduciary whenever the court considers the appointment necessary for the administration of the trust.

DC

§ 19-1307.04. Vacancy in trusteeship; appointment of successor.

(a) A vacancy in a trusteeship occurs if:
(1) A person designated as trustee rejects the trusteeship;
(2) A person designated as trustee cannot be identified or does not exist;
(3) A trustee resigns;
(4) A trustee is disqualified or removed;
(5) A trustee dies; or
(6) A guardian or conservator is appointed for an individual serving as trustee.
(b) If one or more cotrustees remain in office, a vacancy in a trusteeship need not be filled. A vacancy in a trusteeship must be filled if the trust has no remaining trustee.
(c) A vacancy in a trusteeship of a noncharitable trust that is required to be filled must be filled in the following order of priority:
(1) By a person designated pursuant to the terms of the trust to act as successor trustee;
(2) By a person appointed by unanimous agreement of the qualified beneficiaries; or
(3) By a person appointed by the court.
(d) A vacancy in a trusteeship of a charitable trust that is required to be filled must be filled in the following order of priority:
(1) By a person designated pursuant to the terms of the trust to act as successor trustee;
(2) By a person selected by the charitable organizations expressly designated to receive distributions under the terms of the trust if the Corporation Counsel of the District of Columbia concurs in the selection; or
(3) By a person appointed by the court.
(e) Whether or not a vacancy in a trusteeship exists or is required to be filled, the court may appoint an additional trustee or special fiduciary whenever the court considers the appointment necessary for the administration of the trust.

MD

§ 14.5-704. Vacancies.

A

(a) A vacancy in a trusteeship occurs if:
(1) A person designated as trustee rejects the trusteeship;
(2) A person designated as trustee cannot be identified or does not exist;
(3) A trustee resigns;
(4) A trustee is disqualified or removed;
(5) A trustee dies;
(6) A guardian of the person or guardian of the property is appointed for an individual serving as trustee;
(7) A trustee cannot be located for 120 consecutive days; or
(8) A trustee is unable to handle business affairs as determined by two licensed physicians.

(b) (1) If one or more cotrustees remain in office, a vacancy in a trusteeship need not be filled.
(2) A vacancy in a trusteeship shall be filled if the trust has no remaining trustee.
(c) A vacancy in a trusteeship [MISSING "OF A NONCHARITABLE TRUST"] that is required to be filled shall be filled in the following order of priority by a person:
(1) Designated in accordance with the terms of the trust to act as successor trustee;
(2) Appointed by unanimous agreement of the qualified beneficiaries; or
(3) Appointed by the court.
[MISSING UTC(d)(1),(2),(3)]
(d) The court may appoint an additional trustee or special fiduciary whenever the court considers the appointment necessary for the administration of the trust, whether or not a vacancy in a trusteeship exists or is required to be filled.

VA

§ 64.2-757. Vacancy in trusteeship; appointment of successor

A

A. A vacancy in a trusteeship occurs if:
1. A person designated as trustee rejects the trusteeship;
2. A person designated as trustee cannot be identified or does not exist;
3. A trustee resigns;
4. A trustee is disqualified or removed;
5. A trustee dies; or
6. An individual serving as trustee is adjudicated an incapacitated person. [MISSING UTC(a)(6)]
B. If one or more cotrustees remain in office, a vacancy in a trusteeship need not be filled. A vacancy in a trusteeship shall be filled if the trust has no remaining trustee.
C. A vacancy in a trusteeship of a noncharitable trust that is required to be filled shall be filled in the following order of priority:
1. By a person designated pursuant to the terms of the trust to act as successor trustee;
2. By a person appointed by unanimous agreement of the qualified beneficiaries; or
3. By a person appointed by the court pursuant to §§ 64.2-1405 and 64.2-1406, or pursuant to § 64.2-712.
D. A vacancy in a trusteeship of a charitable trust that is required to be filled shall be filled in the following order of priority:
1. By a person designated pursuant to the terms of the trust to act as successor trustee;
2. By a person selected by the charitable organizations expressly designated to receive distributions under the terms of the trust, subject, however, to the concurrence of the Attorney General in any case in which he has previously requested of an organization so designated that he be consulted regarding the selection of successor; or
3. By a person appointed by the court pursuant to §§ 64.2-1405 and 64.2-1406, or pursuant to § 64.2-712.
E. Whether or not a vacancy in a trusteeship exists or is required to be filled, the court may appoint an additional trustee or special fiduciary whenever the court considers the appointment necessary for the administration of the trust.
F. A successor or surviving trustee shall succeed to all the rights, powers, and privileges, and shall be subject to all the duties, liabilities, and responsibilities imposed upon the original trustee without regard to the nature of discretionary powers conferred by the instrument, unless the trust instrument expressly provides to the contrary, or unless an order appointing the successor trustee provides otherwise.

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