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2020 Code of Virginia
Title 64.2 - Wills, Trusts, and Fiduciaries
Chapter 27 - Uniform Powers of Appointment Act
§ 64.2-2714. Intent to exercise; determining intent from residuary clause
Universal Citation: VA Code § 64.2-2714 (2020)
A. As used in this section:
"Residuary clause" does not include a residuary clause containing a blanket-exercise clause or a specific-exercise clause.
"Will" includes a codicil and a testamentary instrument that revises another will.
B. A residuary clause in a powerholder's will, or a comparable clause in the powerholder's revocable trust, manifests the powerholder's intent to exercise a power of appointment only if:
1. The terms of the instrument containing the residuary clause do not manifest a contrary intent;
2. The power is a general power exercisable in favor of the powerholder's estate;
3. There is no gift-in-default clause or the clause is ineffective; and
4. The powerholder did not release the power.
2016, c. 266.
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