Virginia § 64.2-431 - Certain powers of appointment construed to refer to federal gift tax exclusion in effect on date of execution
Full text of Virginia Code of Virginia § 64.2-431 — Certain powers of appointment construed to refer to federal gift tax exclusion in effect on date of execution, with citation guidance and answers to common questions.
§ 64.2-431. Certain powers of appointment construed to refer to federal gift tax exclusion in effect on date of execution
If an instrument executed before September 12, 1981, provides for a power of appointment that may be exercised during any period after December 31, 1981, and such power of appointment is defined in terms of, or by reference to, the maximum amount of property qualifying for the gift tax exclusion under federal law, then such instrument shall be construed as referring to the maximum amount of property eligible for the annual gift tax exclusion as was allowable under the Internal Revenue Code in effect on the date of execution of such instrument provided that the instrument described has not been amended after September 12, 1981, to refer specifically to the federal gift tax exclusion available after December 31, 1981, or the amount qualifying for such exclusion.
1982, c. 622, § 64.1-62.2; 2012, c. 614.
Source: official Virginia text · Last verified 2026-08-27
Frequently Asked Questions About Virginia § 64.2-431
What does Code of Virginia § 64.2-431 cover?
Section 64.2-431 ("Certain powers of appointment construed to refer to federal gift tax exclusion in effect on date of execution") is part of the Code of Virginia, the codified statutory law of Virginia. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Virginia § 64.2-431?
A common citation format is "Code of Virginia § 64.2-431" (Virginia). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Virginia law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Virginia official source linked on this page or consult a licensed Virginia attorney.
How does Virginia § 64.2-431 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Virginia can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Virginia.