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Updated over 4 years ago on . Most recent reply
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Virginia Trust - Non Resident Trustee Requirements
I may be named a trustee for a Virginia trust that will have among other things real estate within it. Virginia has certain trustee requirements that a Non resident (out of state) trustee must satisfy, that a Virginia resident trustee does not.
Does anyone have any practical experience with these additional requirements (designation of agent, posting of bond, etc.)?
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@Patti Robertson the Virginia resident agent is required for me because I will be a nonresident trustee, it's not for the trust.
It's apparently required by the local court that has jurisdiction even though the trust itself isn't directly subject to court supervision.