CODE OF VIRGINIA

EXCEPTION TO PRESUMPTION OF UNLIMITED AUTHORITY (§ 64.2-2710)

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.

HISTORY: 2016, c. 266.