2514(c)(3)(A), the unanimous committee power was not a general power of appointment
132) Repeal of the safe harbor has been urged given that it is inconsistent with the intended treatment of power of appointment
holders and lacks "conceptual justification," but it persists in the Code.
There is another important and very recent national development in the power of appointment
Otherwise, the grantor's spouse will possess a general power of appointment
over the trust property, causing it to be included in the spouse's estate.
Abstractly considered, the power of appointment
may appear to be an executive function, but history has shown that the commingling of powers during the country's constitutional development has largely countered that proposition.
Another approach is to grant the Crummey power holder a testamentary limited or general power of appointment
over the amount in excess of the safe harbor amount.
The AJCA re-defines shareholders, in this narrow application, as potential current beneficiaries for whom the power of appointment
has been exercised.
3) Property passing under a general power of appointment
exercised by the will.
I keep only the general outline of government policies and the power of appointment
However, a power "in the trustee's absolute discretion" to choose between beneficiaries of a discretionary trust or to exercise a power of appointment
or advancement need only to be exercised honestly and for the purpose for which the power was given.
That will reads that Gonell has power of appointment
``over all my assets, to distribute them as she sees fit, even to include herself.
The CPA said he had never received a copy of the will from the attorney until it was too late for the trustee to disclaim the power of appointment
The figures well illustrate the parties to a trust and the parties to a power of appointment
Chappell, Henry, Thomas Havrilesky, and Rob McGregor, "Partisan Monetary Policies: Presidential Influence through the Power of Appointment
," Quarterly Journal of Economics, February 1993, 185--218.
In some statutes, such as those in place in New York and Delaware, the power to invade the first trust and decant to a second trust is described as the exercise of a limited power of appointment