Section 64.2-2714 - Intent to exercise; determining intent from residuary clauseA. 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; and4. The powerholder did not release the power.Added by Acts 2016 c. 266, § 1, eff. 7/1/2016.