7818636.2-1080Virginia Decodedhttps://vacode.org2016Financial Institutions And ServicesDepository Institutions And Trust OrganizationsEntities Conducting Trust BusinessPrivate Trust Companies.Limitation on powers2003, c. 910, § 6.1-32.30:7; 2010, c. 794.http://law.lis.virginia.gov/vacode/6.2-1080//6.2-1080/6.2/II/10/5/6.2-1080

In the exercise of any power held by a private trust company in its capacity as a fiduciary, the private trust company shall have a duty not to exercise any power in such a way as to deprive the estate, trust, or other entity for which it acts as a fiduciary of an otherwise available tax exemption, deduction, or credit for tax purposes or deprive a donor of trust assets of a tax exemption, deduction, or credit or operate to impose a tax upon a donor or other person as owner of any portion of the estate, trust, or otherwise.section

A

AA1

section

B

BB1

The exercise of the discretion is limited by an ascertainable standard relating to the health, education, support, or maintenance of that family member;section

B

1

B1B12

section

B

2

B2B22

The instrument governing the administration of that trust clearly so provides.section

B

3

B3B32