Virginia 2024 Regular Session Status: Enacted

HB 678 — Trusts; release or ratification of trustee by beneficiary, response of beneficiary in writing.

Last action — Acts of Assembly Chapter text (CHAP0446)

  1. ✓
    Introduced
  2. ✓
    In Committee
  3. ✓
    Passed House of Delegates
  4. ✓
    Passed Senate
  5. ✓
    To Executive
  6. 6
    Enacted

This bill has been enacted into law. Introduced January 09, 2024. Enacted.

Signed by Governor Glenn Youngkin (Republican) on April 04, 2024.

Odds of enactment

High chance

Based on the sponsor, cosponsors, and committee posture, this bill has a high chance of becoming law.

Upgrade to see the exact probability and what's driving it.

A statistical estimate from our own model of past outcomes — an insight, not a guarantee. Policymaking is volatile.

Prognosis

Likely to advance 70% · moderate confidence

  • Enacted

    Current position in the legislative process.

  • 1 sponsor

    1 primary, 0 co-sponsors signed on.

  • Cleared a recorded vote

    Passed 7 recorded votes so far.

Based on stage, sponsorship breadth, committee status, recorded votes, and cross-state momentum — a description of the observable signals, not a prediction.

Summary

Trustees; settlement of accounts; notice and statements to beneficiaries; requirements. Provides that the beneficiary of a trust shall be deemed to have released a trustee and ratified all actions of a trustee for the administration of a trust if, when the trust terminates or the trustee ceases to serve, the trustee sends the beneficiary notice and the beneficiary does not object within 60 days after the trustee sent such notice. The bill also requires the trustee to provide to the beneficiary certain financial information related to the trust. This bill is identical to SB 566.

Bill Text

What changed in the latest version

41 added · 40 removed

Plain-language change summary

The recent amendments to HB 678 clarify the conditions under which a trustee can be released from liability for breaches of trust by a beneficiary. Specifically, it now states that a beneficiary is considered to have approved a trustee's actions if they do not object within 60 days after receiving a detailed report at the termination of the trust. This change is important because it provides a clearer process for both trustees and beneficiaries, ensuring that beneficiaries are informed and have an opportunity to voice concerns before automatically releasing trustees from liability.

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Previous
Latest
SESSION ENROLLED VIRGINIA ACTS OF ASSEMBLY –– CHAPTER E An Act to amend and reenact § 64.2-800 of the Code of Virginia, relating to trusts;
VIRGINIA ACTS OF ASSEMBLY -- 2024 SESSION CHAPTER 446 An Act to amend and reenact § 64.2-800 of the Code of Virginia, relating to trusts;
release or N ratification of trustee by beneficiary.
release or ratification of trustee by beneficiary.
R O [H 678] L Approved Be it enacted by the General Assembly of Virginia:
[H 678] Approved April 4, 2024 Be it enacted by the General Assembly of Virginia:
L 1.
1.
E § 64.2-800.
§ 64.2-800.
trustee;
1.
oronsent, release, or ratification of the beneficiary was induced by improper conduct of the 2.
The consent, release, or ratification of the beneficiary was induced by improper conduct of the tru2.
A beneficiary shall be deemed to have released a trustee and ratified all actions of a trHstee for the administration of the trust if, when the trust terminates or the trustee ceases to serve:
A beneficiary shall be deemed to have released a trustee and ratified all actions of a trustee for the administration of the trust if, when the trust terminates or the trustee ceases to serve:
6 1.
1.
8 b.
a.
A report as described in subsection C of § 64.2-775, for the immediately preceding two years;
b.
and (iii) the trustee is unaware of any undisclosed information that could give rise to a claim by the bend.
and (iii) the trustee is unaware of any undisclosed information that could give rise to a claim by the beneficiary;
and d.
by subsection B, the trustee shall not be precluded from obtaining a release of liability by anotherided permitted method.
D.
In the event the trustee is not released and his actions ratified pursuant to the process provided by subsection B, the trustee shall not be precluded from obtaining a release of liability by another permitted method.
A shall be prohibited from bringing a claim against the trustee.nts and either consented or did not object
A beneficiary or other party who received the notice and statements and either consented or did not object shall be prohibited from bringing a claim against the trustee.
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Action History

  1. Acts of Assembly Chapter text (CHAP0446)

  2. Approved by Governor-Chapter 446 (effective 7/1/24)

  3. Governor's Action Deadline 11:59 p.m., April 8, 2024

  4. Enrolled Bill communicated to Governor on March 11, 2024

  5. Impact statement from SCC (HB678ER)

  6. Signed by President

  7. Signed by Speaker

  8. Bill text as passed House and Senate (HB678ER)

  9. Enrolled

  10. VOTE: Adoption (96-Y 0-N)

  11. Senate amendment agreed to by House (96-Y 0-N)

  12. Passed Senate with amendments (40-Y 0-N)

  13. Engrossed by Senate as amended

  14. Committee amendments agreed to

  15. Reading of amendments waived

  16. Read third time

  17. Constitutional reading dispensed (39-Y 0-N)

  18. Reported from Courts of Justice with amendments (12-Y 0-N)

  19. Senate committee, floor amendments and substitutes offered

  20. Impact statement from SCC (HB678H1)

  21. Referred to Committee for Courts of Justice

  22. Constitutional reading dispensed

  23. VOTE: Block Vote Passage (98-Y 0-N)

  24. Read third time and passed House BLOCK VOTE (98-Y 0-N)

  25. Engrossed by House - committee substitute HB678H1

  26. Committee substitute agreed to 24106497D-H1

  27. Read second time

  28. Read first time

  29. Committee substitute printed 24106497D-H1

  30. Reported from Courts of Justice with substitute (21-Y 0-N)

  31. Impact statement from SCC (HB678)

  32. Subcommittee recommends reporting with substitute (7-Y 1-N)

  33. House subcommittee amendments and substitutes offered

  34. Assigned Courts sub: Civil

  35. Referred to Committee for Courts of Justice

  36. Prefiled and ordered printed; offered 01/10/24 24101335D

Sponsors

Sponsorship breakdown

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1 sponsors · 0 co-sponsors · 147 not signed on · 1 voted No

Sponsors (1)

Co-sponsors (0)

None.

Not signed on (147)

147 members have not signed on to this bill.

Show all 147 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Votes

VOTE: Adoption (96-Y 0-N)

Passed 95 Yea · 0 Nay · 4 Other
Party YeaNayPresentNot Voting
Unaffiliated 95004
Total 95004
% of votes cast 96%0%0%4%
How each member voted (99)
Member Party Vote
Adele Y. McClure — Yea
Alex Q. Askew — Yea
Alfonso H. Lopez — Yea
Amy J. Laufer — Yea
Anne Ferrell Tata — Yea
Arnold, Jonathan, E. P. — Yea
Atoosa R. Reaser — Yea
Batten, Amanda E. — Yea
Betsy B. Carr — Yea
Bill Wiley — Yea
Bonita G. Anthony — Yea
Briana D. Sewell — Yea
Bulova, David L. — Yea
C.E. Cliff Hayes, Jr. — Yea
Charniele L. Herring — Yea
Chris S. Runion — Yea
Convirs-Fowler, Kelly K. — Yea
Cordoza, A.C. — Yea
Coyner, Carrie E. — Yea
Dan I. Helmer — Yea
David A. Reid — Yea
Debra D. Gardner — Yea
Delores L. McQuinn — Not Voting
Delores Oates — Yea
Earley, Mark L., Jr. — Yea
Elizabeth B. Bennett-Parker — Yea
Ellen H. McLaughlin — Yea
Ennis, N. Baxter — Yea
Eric Phillips — Yea
Eric R. Zehr — Yea
Fowler, Hyland F."Buddy," Jr. — Yea
Freitas, Nicholas J. — Yea
Gilbert, C. Todd — Yea
Green, W. Chad — Yea
H. Otto Wachsmann, Jr. — Yea
Higgins, Geary — Yea
Holly M. Seibold — Yea
Irene Shin — Yea
Israel D. O'Quinn — Yea
Jackie H. Glass — Yea
James A. "Jay" Leftwich — Yea
James W. Morefield — Yea
Jason S. Ballard — Yea
Jeion A. Ward — Not Voting
Joseph P. McNamara — Yea
Joshua E. Thomas — Yea
Joshua G. Cole — Yea
Kannan Srinivasan — Yea
Karen Keys-Gamarra — Yea
Karrie K. Delaney — Not Voting
Kathy K.L. Tran — Yea
Katrina Callsen — Yea
Kent, Hillary Pugh — Yea
Knight, Barry D. — Yea
Laura Jane Cohen — Yea
LeVere Bolling, Destiny — Yea
Lovejoy, Ian T. — Yea
Luke E. Torian — Yea
M. Keith Hodges — Yea
Maldonado, Michelle Lopes — Yea
Marcia S. "Cia" Price — Yea
Marcus B. Simon — Yea
Marshall, Daniel W., III — Yea
Marty Martinez — Yea
Michael B. Feggans — Yea
Michael J. Jones — Yea
Michael J. Webert — Yea
Mike A. Cherry — Yea
Milde, Paul V. — Yea
Mundon King, Candi — Yea
Nadarius E. Clark — Yea
Obenshain, Chris — Yea
Orrock, Robert D., Sr. — Yea
Owen, David — Yea
Patrick A. Hope — Yea
Paul E. Krizek — Yea
Phil M. Hernandez — Yea
Phillip A. Scott — Yea
R. Lee Ware — Yea
Rae Cousins — Yea
Richard C. "Rip" Sullivan, Jr. — Yea
Robert S. Bloxom, Jr. — Yea
Rodney T. Willett — Yea
Rozia A. Henson, Jr. — Yea
Sam Rasoul — Yea
Scott A. Wyatt — Yea
Shelly A. Simonds — Yea
Sickles, Mark D. — Yea
Taylor, Kim A. — Not Voting
Terry G. Kilgore — Yea
Terry L. Austin — Yea
Thomas A. Garrett, Jr. — Yea
Thomas C. Wright, Jr. — Yea
Timothy P. Griffin — Yea
Tony O. Wilt — Yea
Vivian E. Watts — Yea
Wendell S. Walker — Yea
Will Davis — Yea
Wren M. Williams — Yea

Official roll call →

Passed Senate with amendments (40-Y 0-N)

Passed 40 Yea · 0 Nay
Party YeaNayPresentNot Voting
Unaffiliated 40000
Total 40000
% of votes cast 100%0%0%0%
How each member voted (40)
Member Party Vote
Aaron R. Rouse — Yea
Angelia Williams Graves — Yea
Barbara A. Favola — Yea
Bill DeSteph — Yea
Bryce E. Reeves — Yea
Carroll Foy, Jennifer D. — Yea
Christie New Craig — Yea
Christopher T. Head — Yea
Danica A. Roem — Yea
David R. Suetterlein — Yea
David W. Marsden — Yea
Ebbin, Adam P. — Yea
Emily M. Jordan — Yea
Glen H. Sturtevant, Jr. — Yea
Hashmi, Ghazala F. — Yea
J.D. "Danny" Diggs — Yea
Jennifer B. Boysko — Yea
Jeremy S. McPike — Yea
L. Louise Lucas — Yea
Lamont Bagby — Yea
Lashrecse D. Aird — Yea
Mamie E. Locke — Yea
Mark D. Obenshain — Yea
Mark J. Peake — Yea
McGuire, John J., III — Yea
R. Creigh Deeds — Yea
Richard H. Stuart — Yea
Russet Perry — Yea
Ryan T. McDougle — Yea
Saddam Azlan Salim — Yea
Schuyler T. VanValkenburg — Yea
Scott A. Surovell — Yea
Stella G. Pekarsky — Yea
Subramanyam, Suhas — Yea
T. Travis Hackworth — Yea
Tammy Brankley Mulchi — Yea
Tara A. Durant — Yea
Timmy French — Yea
Todd E. Pillion — Yea
William M. Stanley, Jr. — Yea

Official roll call →

Constitutional reading dispensed (39-Y 0-N)

Passed 39 Yea · 0 Nay · 1 Other
Party YeaNayPresentNot Voting
Unaffiliated 39001
Total 39001
% of votes cast 98%0%0%3%
How each member voted (40)
Member Party Vote
Aaron R. Rouse — Yea
Angelia Williams Graves — Yea
Barbara A. Favola — Yea
Bill DeSteph — Yea
Bryce E. Reeves — Yea
Carroll Foy, Jennifer D. — Yea
Christie New Craig — Yea
Christopher T. Head — Yea
Danica A. Roem — Yea
David R. Suetterlein — Yea
David W. Marsden — Yea
Ebbin, Adam P. — Yea
Emily M. Jordan — Yea
Glen H. Sturtevant, Jr. — Yea
Hashmi, Ghazala F. — Yea
J.D. "Danny" Diggs — Yea
Jennifer B. Boysko — Yea
Jeremy S. McPike — Yea
L. Louise Lucas — Yea
Lamont Bagby — Yea
Lashrecse D. Aird — Yea
Mamie E. Locke — Yea
Mark D. Obenshain — Yea
Mark J. Peake — Not Voting
McGuire, John J., III — Yea
R. Creigh Deeds — Yea
Richard H. Stuart — Yea
Russet Perry — Yea
Ryan T. McDougle — Yea
Saddam Azlan Salim — Yea
Schuyler T. VanValkenburg — Yea
Scott A. Surovell — Yea
Stella G. Pekarsky — Yea
Subramanyam, Suhas — Yea
T. Travis Hackworth — Yea
Tammy Brankley Mulchi — Yea
Tara A. Durant — Yea
Timmy French — Yea
Todd E. Pillion — Yea
William M. Stanley, Jr. — Yea

Official roll call →

Reported from Courts of Justice with amendments (12-Y 0-N)

Passed 12 Yea · 0 Nay · 3 Other
Party YeaNayPresentNot Voting
Unaffiliated 12003
Total 12003
% of votes cast 80%0%0%20%
How each member voted (15)
Member Party Vote
Carroll Foy, Jennifer D. — Yea
Emily M. Jordan — Yea
Jennifer B. Boysko — Yea
Lamont Bagby — Yea
Lashrecse D. Aird — Not Voting
Mark D. Obenshain — Yea
Mark J. Peake — Yea
R. Creigh Deeds — Yea
Richard H. Stuart — Not Voting
Russet Perry — Yea
Ryan T. McDougle — Yea
Saddam Azlan Salim — Yea
Scott A. Surovell — Yea
Subramanyam, Suhas — Yea
William M. Stanley, Jr. — Not Voting

Official roll call →

VOTE: Block Vote Passage (98-Y 0-N)

Passed 97 Yea · 0 Nay · 2 Other
Party YeaNayPresentNot Voting
Unaffiliated 97002
Total 97002
% of votes cast 98%0%0%2%
How each member voted (99)
Member Party Vote
Adele Y. McClure — Yea
Alex Q. Askew — Yea
Alfonso H. Lopez — Yea
Amy J. Laufer — Yea
Anne Ferrell Tata — Yea
Arnold, Jonathan, E. P. — Yea
Atoosa R. Reaser — Yea
Batten, Amanda E. — Yea
Betsy B. Carr — Yea
Bill Wiley — Yea
Bonita G. Anthony — Yea
Briana D. Sewell — Yea
Bulova, David L. — Yea
C.E. Cliff Hayes, Jr. — Yea
Charniele L. Herring — Yea
Chris S. Runion — Yea
Convirs-Fowler, Kelly K. — Yea
Cordoza, A.C. — Yea
Coyner, Carrie E. — Yea
Dan I. Helmer — Yea
David A. Reid — Yea
Debra D. Gardner — Yea
Delores L. McQuinn — Yea
Delores Oates — Yea
Earley, Mark L., Jr. — Yea
Elizabeth B. Bennett-Parker — Yea
Ellen H. McLaughlin — Not Voting
Ennis, N. Baxter — Yea
Eric Phillips — Yea
Eric R. Zehr — Yea
Fowler, Hyland F."Buddy," Jr. — Yea
Freitas, Nicholas J. — Yea
Gilbert, C. Todd — Yea
Green, W. Chad — Yea
H. Otto Wachsmann, Jr. — Yea
Higgins, Geary — Yea
Holly M. Seibold — Yea
Irene Shin — Yea
Israel D. O'Quinn — Yea
Jackie H. Glass — Yea
James A. "Jay" Leftwich — Yea
James W. Morefield — Yea
Jason S. Ballard — Yea
Jeion A. Ward — Yea
Joseph P. McNamara — Yea
Joshua E. Thomas — Yea
Joshua G. Cole — Yea
Kannan Srinivasan — Yea
Karen Keys-Gamarra — Yea
Karrie K. Delaney — Yea
Kathy K.L. Tran — Yea
Katrina Callsen — Yea
Kent, Hillary Pugh — Yea
Knight, Barry D. — Yea
Laura Jane Cohen — Yea
LeVere Bolling, Destiny — Yea
Lovejoy, Ian T. — Yea
Luke E. Torian — Yea
M. Keith Hodges — Yea
Maldonado, Michelle Lopes — Yea
Marcia S. "Cia" Price — Yea
Marcus B. Simon — Yea
Marshall, Daniel W., III — Yea
Marty Martinez — Yea
Michael B. Feggans — Yea
Michael J. Jones — Yea
Michael J. Webert — Yea
Mike A. Cherry — Yea
Milde, Paul V. — Yea
Mundon King, Candi — Yea
Nadarius E. Clark — Yea
Obenshain, Chris — Yea
Orrock, Robert D., Sr. — Yea
Owen, David — Yea
Patrick A. Hope — Yea
Paul E. Krizek — Yea
Phil M. Hernandez — Yea
Phillip A. Scott — Yea
R. Lee Ware — Not Voting
Rae Cousins — Yea
Richard C. "Rip" Sullivan, Jr. — Yea
Robert S. Bloxom, Jr. — Yea
Rodney T. Willett — Yea
Rozia A. Henson, Jr. — Yea
Sam Rasoul — Yea
Scott A. Wyatt — Yea
Shelly A. Simonds — Yea
Sickles, Mark D. — Yea
Taylor, Kim A. — Yea
Terry G. Kilgore — Yea
Terry L. Austin — Yea
Thomas A. Garrett, Jr. — Yea
Thomas C. Wright, Jr. — Yea
Timothy P. Griffin — Yea
Tony O. Wilt — Yea
Vivian E. Watts — Yea
Wendell S. Walker — Yea
Will Davis — Yea
Wren M. Williams — Yea

Official roll call →

Reported from Courts of Justice with substitute (21-Y 0-N)

Passed 21 Yea · 0 Nay · 1 Other
Party YeaNayPresentNot Voting
Unaffiliated 21001
Total 21001
% of votes cast 95%0%0%5%
How each member voted (22)
Member Party Vote
Arnold, Jonathan, E. P. — Yea
Atoosa R. Reaser — Yea
Batten, Amanda E. — Yea
Cordoza, A.C. — Yea
Earley, Mark L., Jr. — Yea
James A. "Jay" Leftwich — Not Voting
Jason S. Ballard — Yea
Joshua E. Thomas — Yea
Karen Keys-Gamarra — Yea
Karrie K. Delaney — Yea
Katrina Callsen — Yea
Maldonado, Michelle Lopes — Yea
Marcus B. Simon — Yea
Obenshain, Chris — Yea
Patrick A. Hope — Yea
Phil M. Hernandez — Yea
Rae Cousins — Yea
Richard C. "Rip" Sullivan, Jr. — Yea
Terry G. Kilgore — Yea
Vivian E. Watts — Yea
Will Davis — Yea
Wren M. Williams — Yea

Official roll call →

Subcommittee recommends reporting with substitute (7-Y 1-N)

Passed 7 Yea · 1 Nay · 1 Other
Party YeaNayPresentNot Voting
Unaffiliated 7101
Total 7101
% of votes cast 78%11%0%11%
How each member voted (9)
Member Party Vote
Atoosa R. Reaser — Yea
James A. "Jay" Leftwich — Yea
Jason S. Ballard — Yea
Joshua E. Thomas — Yea
Karen Keys-Gamarra — Nay
Marcus B. Simon — Yea
Patrick A. Hope — Not Voting
Richard C. "Rip" Sullivan, Jr. — Yea
Terry G. Kilgore — Yea

Official roll call →

Subjects

finance
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

What does HB 678 do?
Trustees; settlement of accounts; notice and statements to beneficiaries; requirements. Provides that the beneficiary of a trust shall be deemed to have released a trustee and ratified all actions of a trustee for the administration of a trust if, when the trust terminates or the trustee ceases to serve, the trustee sends the beneficiary notice and the beneficiary does not object within 60 days after the trustee sent such notice. The bill also requires the trustee to provide to the beneficiary certain financial information related to the trust. This bill is identical to SB 566.
Who sponsors HB 678?
HB 678 is sponsored by James A. "Jay" Leftwich.
What is the current status of HB 678?
This bill has been enacted into law. Introduced January 09, 2024. Enacted.
Where can I track HB 678?
Track HB 678 free on One Click Politics — get push/email alerts when it moves.

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