{"data":{"id":"us-va/va.-code-64.2-904","jurisdiction":"us-va","citation":"Va. Code § 64.2-904","heading":"Transfer to custodial trustee by fiduciary or obligor; facility of payment","body":"A. Unless otherwise directed by an instrument designating a custodial trustee pursuant to § 64.2-902, a person, including a fiduciary other than a custodial trustee, who holds property of or owes a debt to an incapacitated individual not having a conservator may make a transfer to an adult member of the beneficiary's family or to a trust company as custodial trustee for the use and benefit of the incapacitated individual. If the value of the property or the debt exceeds $25,000, the transfer is not effective unless authorized by the court.B. With court approval, any person, including a conservator, guardian, or other fiduciary who holds property of or owes a debt to an incapacitated individual, may make a transfer to any person as a custodial trustee for the use and benefit of the incapacitated individual. The court, in the exercise of its discretion, may require the custodial trustee to furnish a bond with surety for the faithful performance of his fiduciary duties.C. A written acknowledgment of delivery, signed by a custodial trustee, is a sufficient receipt and discharge for property transferred to the custodial trustee pursuant to this section.1990, c. 264, § 55-34.5; 1995, c. 444; 2012, c. 614; 2014, c. 532.","path":["Title 64.2. WILLS, TRUSTS, AND FIDUCIARIES","Subtitle III. TRUSTS","Chapter 9. UNIFORM CUSTODIAL TRUST ACT"],"source_url":"https://law.lis.virginia.gov/vacode/64.2-904/","current_through":"9/4/2026","vintage":"","retrieved_at":"2026-09-04T15:18:14Z","sha256":"02a1d6b0329af4e9ad38f0a32a10aa874ee05a8572088da3fb9c27c420463a11","source_id":"us-va","stale":true,"prev":"us-va/va.-code-64.2-903","next":"us-va/va.-code-64.2-905"},"notice":"GroundRules: Original legal text. Not legal advice."}