55-546.03 - Settlor's powers; powers of withdrawal. - Virginia Statutes

§ 55-546.03. Settlor's powers; powers of withdrawal.

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

B. During the period the power may be exercised, the holder of a power ofwithdrawal has the rights of a settlor of a revocable trust under thissection to the extent of the property subject to the power.

(2005, c. 935.)