Virginia Code 64.2-780: Definition of terms
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As used in this article:
Terms Used In Virginia Code 64.2-780
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Attorney-in-fact: A person who, acting as an agent, is given written authorization by another person to transact business for him (her) out of court.
- Court: means the court of the Commonwealth having jurisdiction in matters related to trusts. See Virginia Code 64.2-701
- Fiduciary: includes a guardian, committee, trustee, executor, conservator, or personal representative. See Virginia Code 64.2-100
- Fiduciary: A trustee, executor, or administrator.
- Includes: means includes, but not limited to. See Virginia Code 1-218
- Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. Source: OCC
- Trustee: A person or institution holding and administering property in trust.
- Trustee: includes any fiduciary as defined in § 8. See Virginia Code 64.2-780
“Controlling document” means the will, agreement, power of attorney, court order, or other instrument creating the fiduciary powers.
“Trust” includes the assets under the control or management of the trustee.
“Trustee” includes any fiduciary as defined in § 8.01-2, an attorney-in-fact or agent acting for a principal under a written power of attorney, a custodian under § 64.2-1911, and a custodial trustee under § 64.2-906.