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Current as of January 01, 2025 | Updated by Findlaw Staff
A. If a trust received property for which a gift or estate tax marital deduction was allowed and the settlor's spouse holds a mandatory income interest in the trust, the spouse may require the trustee, to the extent the trust assets otherwise do not provide the spouse with sufficient income from or use of the trust assets to qualify for the deduction, to:
1. Make property productive of income;
2. Convert property to property productive of income within a reasonable time; or
3. Exercise the power to adjust under § 64.2-1038.
B. The trustee may decide which action or combination of actions in subsection A to take.
Cite this article: FindLaw.com - Virginia Code Title 64.2. Wills, Trusts, and Fiduciaries § 64.2-1060. Marital deduction property not productive of income - last updated January 01, 2025 | https://codes.findlaw.com/va/title-64-2-wills-trusts-and-fiduciaries/va-code-sect-64-2-1060/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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