Current with changes from the 2024 legislative session through ch. 845
Section 64.2-2738 - Creditor claim; nongeneral powerA. Except as otherwise provided in subsections B and C, appointive property subject to a nongeneral power of appointment is exempt from a claim of a creditor of the powerholder or the powerholder's estate.B. Appointive property subject to a nongeneral power of appointment is subject to a claim of a creditor of the powerholder or the powerholder's estate to the extent that the powerholder owned the property and, reserving the nongeneral power, transferred the property in violation of Chapter 4 (§ 55.1-400 et seq.) of Title 55.1.C. If the initial gift in default of appointment is to the powerholder or the powerholder's estate, a nongeneral power of appointment is treated for purposes of this article as a general power.Added by Acts 2016 c. 266, § 1, eff. 7/1/2016.