A. A trustee, without authorization by the court, may exercise:
1. Powers conferred by the terms of the trust; and
2. Except as limited by the terms of the trust:
a. All powers over the trust property that an unmarried competent owner has over individually owned property;
b. Any other powers appropriate to achieve the proper investment, management, and distribution of the trust property; and
c. Any other powers conferred by this chapter.
B. The exercise of a power is subject to the fiduciary duties prescribed by this article.
C. Any reference in a trust instrument incorporating the powers authorized under § 64.2-105 shall not be construed to limit powers a trustee may exercise pursuant to this section, unless the settlor expressly states in the trust instrument that such reference should be so construed.
2005, c. 935, § 55-548.15; 2012, c. 614.
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