Va. Code § 64.2-2715

Current with changes from the 2024 legislative session through ch. 845

Section 64.2-2715 - Intent to exercise; after-acquired power

Unless the terms of the instrument exercising a power of appointment manifest a contrary intent:

1. Except as otherwise provided in subdivision 2, a blanket-exercise clause extends to a power acquired by the powerholder after executing the instrument containing the clause; and

2. If the powerholder is also the donor of the power, the clause does not extend to the power unless there is no gift-in-default clause or the gift-in-default clause is ineffective.

Va. Code § 64.2-2715

2016, c. 266.

Added by Acts 2016 c. 266, § 1, eff. 7/1/2016.