A powerholder of a power of appointment that is not presently exercisable may contract to exercise or not to exercise the power only if the powerholder:
1. Is also the donor of the power; and
2. Has reserved the power in a revocable trust.
Va. Code Ann. § 64.2-2733
Power to contract; power of appointment not presently exercisable
2016, c. 266.
Official source: Virginia Law Portal (LIS). Reproduced from public-domain Virginia statutes; confirm against the official source for the current text. Not legal advice.