Virginia § 64.2-779.28 Exclusions

Virginia Statutes

§ 64.2-779.28 — Exclusions

Virginia § 64.2-779.28

JurisdictionVirginia

Title 64.2Wills, Trusts, and Fiduciaries

Subtitle IIITrusts

Ch. 7Uniform Trust Code

Art. 8.2Uniform Directed Trust Act

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Bluebook

Va. Code Ann. § 64.2-779.28 (2026).

Text

A.This article does not apply to a:

1.Power of appointment;

2.Power to appoint or remove a trustee or trust director;

3.Power of a settlor over a trust to the extent the settlor has a power to revoke the trust;

4.Power of a beneficiary over a trust to the extent the exercise or nonexercise of the power affects the beneficial interest of:

a.The beneficiary; or

b.Another beneficiary represented by the beneficiary under Article 3 (§ 64.2-714 et seq.) with respect to the exercise or nonexercise of the power;

5.Power over a trust if:

a.The terms of the trust provide that the power is held in a nonfiduciary capacity; and

b.The power must be held in a nonfiduciary capacity to achieve the settlor's tax objectives under the United States Internal Revenue Code; or

6.Power over a

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A. This article does not apply to a:

1. Power of appointment;

2. Power to appoint or remove a trustee or trust director;

3. Power of a settlor over a trust to the extent the settlor has a power to revoke the trust;

4. Power of a beneficiary over a trust to the extent the exercise or nonexercise of the power affects the beneficial interest of:

a. The beneficiary; or

b. Another beneficiary represented by the beneficiary under Article 3 (§ 64.2-714 et seq.) with respect to the exercise or nonexercise of the power;

5. Power over a trust if:

a. The terms of the trust provide that the power is held in a nonfiduciary capacity; and

b. The power must be held in a nonfiduciary capacity to achieve the settlor's tax objectives under the United States Internal Revenue Code; or

6. Power over a trust if the terms of the trust provide that the Uniform Directed Trust Act does not apply to the trust.

B. Unless the terms of a trust provide otherwise, a power granted to a person to designate a recipient of an ownership interest in or power of appointment over trust property which is exercisable while the person is not serving as a trustee is a power of appointment and not a power of direction.