                                 CODE OF VIRGINIA

AUTHORITY THAT REQUIRES SPECIFIC GRANT; GRANT OF GENERAL AUTHORITY (§
64.2-1622)

A. Subject to the provisions of subsection H, an agent under a power of attorney
may do the following on behalf of the principal or with the principal&#8217;s
property only if the power of attorney expressly grants the agent the authority
and exercise of the authority is not otherwise prohibited or limited by another
statute, agreement, or instrument to which the authority or property is subject:

   1. Create, amend, revoke, or terminate an inter vivos trust;

   2. Make a gift;

   3. Create or change rights of survivorship;

   4. Create or change a beneficiary designation;

   5. Delegate authority granted under the power of attorney;

   6. Waive the principal&#8217;s right to be a beneficiary of a joint and
   survivor annuity, including a survivor benefit under a retirement plan;

   7. Exercise fiduciary powers that the principal has authority to delegate; or

   8. Have authority over the content of an electronic communication of the
   principal as provided by &#xA7; 64.2-123.

B. Notwithstanding a grant of authority to do an act described in subsection A
or H, unless the power of attorney otherwise provides, an agent that is not an
ancestor, spouse, or descendant of the principal may not exercise authority
under a power of attorney to create in the agent, or in an individual to whom
the agent owes a legal obligation of support, an interest in the
principal&#8217;s property, whether by gift, right of survivorship, beneficiary
designation, disclaimer, or otherwise.

C. Subject to subsections A, B, D, and E, if a power of attorney grants to an
agent authority to do all acts that a principal could do, the agent has the
general authority described in &#xA7; 64.2-124 and &#xA7;&#xA7; 64.2-1625
through 64.2-1637.

D. Unless the power of attorney otherwise provides and subject to subsection H,
a grant of authority to make a gift is subject to &#xA7; 64.2-1638.

E. Subject to subsections A, B, and D, if the subjects over which authority is
granted in a power of attorney are similar or overlap, the broadest authority
controls.

F. Authority granted in a power of attorney is exercisable with respect to
property that the principal has when the power of attorney is executed or
acquires later, whether or not the property is located in the Commonwealth and
whether or not the authority is exercised or the power of attorney is executed
in the Commonwealth.

G. An act performed by an agent pursuant to a power of attorney has the same
effect and inures to the benefit of and binds the principal and the
principal&#8217;s successors in interest as if the principal had performed the
act.

H. Notwithstanding the provisions of subsection A, if a power of attorney grants
to an agent authority to do all acts that a principal could do, the agent shall
have the authority to make gifts in any amount of any of the principal&#8217;s
property to any individuals or to organizations described in &#xA7;&#xA7; 170(c)
and 2522(a) of the Internal Revenue Code or corresponding future provisions of
federal tax law, or both, in accordance with the principal&#8217;s personal
history of making or joining in the making of lifetime gifts. This subsection
shall not in any way impair the right or power of any principal, by express
words in the power of attorney, to authorize, or limit the authority of, an
agent to make gifts of the principal&#8217;s property.

HISTORY: 2010, cc. 455, 632, § 26-95; 2012, c. 614; 2017, cc. 33, 80.