2022 West Virginia Code
Chapter 44D. Uniform Trust Code
Article 8A. West Virginia Uniform Directed Trust Act
§44D-8A-805. Exclusions
(a) In this section, "power of appointment" means a power that enables a person acting in a nonfiduciary capacity to designate a recipient of an ownership interest in or another power of appointment over trust property.
(b) 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 grantor over a trust to the extent the grantor 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 44D-3-301, 44D-3-302, 44D-3-303, 44D-3-304, and 44D-3-305 of this code with respect to the exercise or nonexercise of the power; or
(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 grantors tax objectives under the United States Internal Revenue Code of 1986 and regulations issued thereunder.
(c) 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.
