                                 CODE OF VIRGINIA

INTENT TO EXERCISE; DETERMINING INTENT FROM RESIDUARY CLAUSE (§ 64.2-2714)

A. As used in this section:
			&#8220;Residuary clause&#8221; does not include a residuary clause containing
a blanket-exercise clause or a specific-exercise clause.
			&#8220;Will&#8221; includes a codicil and a testamentary instrument that
revises another will.

B. A residuary clause in a powerholder&#8217;s will, or a comparable clause in
the powerholder&#8217;s revocable trust, manifests the powerholder&#8217;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&#8217;s estate;

   3. There is no gift-in-default clause or the clause is ineffective; and

   4. The powerholder did not release the power.

HISTORY: 2016, c. 266.