Virginia § 64.2-2738 Creditor claim; nongeneral power

Virginia Statutes

§ 64.2-2738 — Creditor claim; nongeneral power

Virginia § 64.2-2738

JurisdictionVirginia

Title 64.2Wills, Trusts, and Fiduciaries

Subtitle VProvisions Applicable to Probate and Nonprobate Transfers

Ch. 27Uniform Powers of Appointment Act

Art. 5Right of Powerholder's Creditors in Appointive Property

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Bluebook

Va. Code Ann. § 64.2-2738 (2026).

Text

A.Except as otherwise provided in subsections B and C, appointive property subject to a nongeneral power of appointment is exempt from a claim of a creditor of the powerholder or the powerholder's estate.

B.Appointive property subject to a nongeneral power of appointment is subject to a claim of a creditor of the powerholder or the powerholder's estate to the extent that the powerholder owned the property and, reserving the nongeneral power, transferred the property in violation of Chapter 4 (§ 55.1-400 et seq.) of Title 55.1.

C.If the initial gift in default of appointment is to the powerholder or the powerholder's estate, a nongeneral power of appointment is treated for purposes of this article as a general power.

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A. Except as otherwise provided in subsections B and C, appointive property subject to a nongeneral power of appointment is exempt from a claim of a creditor of the powerholder or the powerholder's estate.

B. Appointive property subject to a nongeneral power of appointment is subject to a claim of a creditor of the powerholder or the powerholder's estate to the extent that the powerholder owned the property and, reserving the nongeneral power, transferred the property in violation of Chapter 4 (§ 55.1-400 et seq.) of Title 55.1.

C. If the initial gift in default of appointment is to the powerholder or the powerholder's estate, a nongeneral power of appointment is treated for purposes of this article as a general power.