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Code of Virginia (Last Updated:July 28, 2020) |
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TITLE 64.2. Wills, Trusts, and Fiduciaries |
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SUBTITLE V. Provisions Applicable to Probate and Nonprobate Transfers |
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CHAPTER 27. Uniform Powers of Appointment Act |
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ARTICLE 4. Disclaimer or Release; Contract to Appoint or Not to Appoint |
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SECTION 64.2-2733. Power to contract; power of appointment not presently exercisable |
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A powerholder of a power of appointment that is not presently exercisable may contract to exercise or not to exercise the power only if the powerholder: 1. Is also the donor of the power; and 2. Has reserved the power in a revocable trust. 2016, c. 266 . |