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Updated over 4 years ago on . Most recent reply

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Christopher Smith
  • Investor
  • brentwood, CA
729
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1,040
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Virginia Trust - Non Resident Trustee Requirements

Christopher Smith
  • Investor
  • brentwood, CA
Posted

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.)?

Most Popular Reply

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1,040
Posts
729
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Christopher Smith
  • Investor
  • brentwood, CA
729
Votes |
1,040
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Christopher Smith
  • Investor
  • brentwood, CA
Replied

@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.

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