A. This article does not apply to a:\n1. Power of appointment;\n2. Power to appoint or remove a trustee or trust director;\n3. Power of a settlor over a trust to the extent the settlor has a power to revoke the trust;\n4. Power of a beneficiary over a trust to the extent the exercise or nonexercise of the power affects the beneficial interest of:\na. The beneficiary; or\nb. Another beneficiary represented by the beneficiary under Article 3 (§ 64.2-714 et seq.) with respect to the exercise or nonexercise of the power;\n5. Power over a trust if:\na. The terms of the trust provide that the power is held in a nonfiduciary capacity; and\nb. The power must be held in a nonfiduciary capacity to achieve the settlor's tax objectives under the United States Internal Revenue Code; or\n6. Power over a trust if the terms of the trust provide that the Uniform Directed Trust Act does not apply to the trust.\nB. 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 nate 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.\n2020, c. 768.
Virginia Legal Code