Virginia Code 64.2-2712: Power to revoke or amend.
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A donor may revoke or amend a power of appointment only to the extent that:
Terms Used In Virginia Code 64.2-2712
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
- Donor: The person who makes a gift.
- Donor: means a person that creates a power of appointment. See Virginia Code 64.2-2700
- Instrument: means a record. See Virginia Code 64.2-2700
- Power of appointment: means a power that enables a powerholder acting in a nonfiduciary capacity to designate a recipient of an ownership interest in or another power of appointment over the appointive property. See Virginia Code 64.2-2700
1. The instrument creating the power is revocable by the donor; or
2. The donor reserves a power of revocation or amendment in the instrument creating the power of appointment.
2016, c. 266.