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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 III. Trusts |
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CHAPTER 7. Uniform Trust Code |
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ARTICLE 6. Revocable Trusts |
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SECTION 64.2-752. Settlor's powers; powers of withdrawal |
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A. While a trust is revocable, rights of the beneficiaries are subject to the control of, and the duties of the trustee are owed exclusively to, the settlor. B. While a trust is revocable, the trustee may follow a direction of the settlor that is contrary to the terms of the trust. C. During the period the power may be exercised, the holder of a power of withdrawal has the rights of a settlor of a revocable trust under this section to the extent of the property subject to the power. |