§ 64.2-2710 — Exception to presumption of unlimited authority

Virginia § 64.2-2710

• Jurisdiction: Virginia
• Title 64.2: WILLS, TRUSTS, AND FIDUCIARIES
• Subtitle V: PROVISIONS APPLICABLE TO PROBATE AND NONPROBATE TRANSFERS
• Ch. 27: UNIFORM POWERS OF APPOINTMENT ACT
• Art. 2: CREATION, REVOCATION, AND AMENDMENT OF POWER OF APPOINTMENT

Text

Unless the terms of the instrument creating a power of appointment manifest a contrary intent, the power is nongeneral if:

1. The power is exercisable only at the powerholder's death; and

2. The permissible appointees of the power do not include the powerholder's estate, the powerholder's creditors, or the creditors of the powerholder's estate.

Legislative History

2016, c. 266.