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Code of Virginia
Title 64.2. Wills, Trusts, and Fiduciaries
Chapter 27. Uniform Powers of Appointment Act
11/5/2024

§ 64.2-2714. Intent to exercise; determining intent from residuary clause.

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.

The chapters of the acts of assembly referenced in the historical citation at the end of this section may not constitute a comprehensive list of such chapters and may exclude chapters whose provisions have expired.