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A. Except as otherwise provided in this chapter, on and after July 1, 2016:
1. This chapter applies to a power of appointment created before, on, or after July 1, 2016;
2. This chapter applies to a judicial proceeding concerning a power of appointment commenced on or after July 1, 2016;
3. This chapter applies to a judicial proceeding concerning a power of appointment commenced before July 1, 2016, unless the court finds that application of a particular provision of this chapter would interfere substantially with the effective conduct of the judicial proceeding or prejudice a right of a party, in which case the particular provision of this chapter does not apply and the superseded law applies;
4. A rule of construction or presumption provided in this chapter applies to an instrument executed before July 1, 2016, unless there is a clear indication of a contrary intent in the terms of the instrument; and
5. Except as otherwise provided in subdivisions 1 through 4, an action done before July 1, 2016, is not affected by this chapter.
B. If a right is acquired, extinguished, or barred on the expiration of a prescribed period that commenced under law of the Commonwealth other than this chapter before July 1, 2016, the law continues to apply to the right.
Cite this article: FindLaw.com - Virginia Code Title 64.2. Wills, Trusts, and Fiduciaries § 64.2-2741. Application to existing relationships - last updated January 01, 2020 | https://codes.findlaw.com/va/title-64-2-wills-trusts-and-fiduciaries/va-code-sect-64-2-2741/
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