CODE OF VIRGINIA

SETTLOR’S POWERS; POWERS OF WITHDRAWAL (§ 64.2-752)

A. While a trust is revocable, rights of the beneficiaries are subject to the
control of, and the duties of the trustee are owed exclusively to, the settlor.

B. While a trust is revocable, the trustee may follow a direction of the settlor
that is contrary to the terms of the trust.

C. During the period the power may be exercised, the holder of a power of
withdrawal has the rights of a settlor of a revocable trust under this section
to the extent of the property subject to the power.

HISTORY: 2005, c. 935, § 55-546.03; 2012, c. 614; 2020, c. 768.