News & Analysis as of

Power of Appointment Beneficiaries

Charles E. Rounds, Jr. - Suffolk University...

Whether an equitable power of appointment incident to a trust relationship is “in gross” or “collateral”: The practical...

Section 17.3, comment f, of the Restatement (Third) of Property (Wills and Other Donative Transfers) explains the difference between a collateral power of appointment and a power of appointment in gross: “In traditional...more

Strafford

[Webinar] New IRS Guidance on Basis Adjustments for Irrevocable Grantor Trusts: Key Issues for U.S. and Non-U.S. Persons - June...

Strafford on

This CLE/CPE webinar will provide estate planners insight on recently issued IRS guidance regarding basis adjustments for irrevocable grantor trusts. The panelist will discuss key items and challenges stemming from Revenue...more

McGuireWoods LLP

Once Removed Episode 22: Building Flexibility into the Estate Plan

McGuireWoods LLP on

On this podcast, we talk about the importance of flexibility in irrevocable trusts and estate planning. Once a trust is irrevocable, we can explore methods to modify that trust to address changed circumstances. But in the...more

Winstead PC

Court Reverses Summary Judgments On The Alleged Exercise Of A Power Of Appointment, Disclaimer, And The Statute Of Limitations

Winstead PC on

In In re Estate of Wells, No. 12-23-00066-CV, 2023 Tex. App. LEXIS 8475 (Tex. App.—Tyler November 8, 2023, no pet. history). The testator left a will that created a trust for his wife and descendants, named his wife as the...more

Katten Muchin Rosenman LLP

5 Things to Know About the 'Power' of Powers of Appointment

An important aspect of your estate plan could be the flexibility you allow (or do not allow) via powers of appointment. Trusts with powers of appointment offer the possibility of altering an estate plan that seems otherwise...more

Adler Pollock & Sheehan P.C.

You Can Relax if Your Estate Plan Includes a SPA Trust

During times of economic and tax law uncertainty, the more flexible your estate plan, the better. As some parts of the country are rebounding economically from effects of the COVID-19 pandemic, other areas continue to...more

Adler Pollock & Sheehan P.C.

Add Estate Planning Flexibility With Powers of Appointment

The best laid plans can go awry. Consider the estate plan you may have carefully crafted by taking into account the needs of your family members. After you’re gone, events may transpire that you hadn’t anticipated or couldn’t...more

Downey Brand LLP

California Powers of Appointment: Follow Instructions When Exercising

Downey Brand LLP on

In California, a trustor (person who creates a trust) can confer a “power of appointment” on trust beneficiaries, empowering them to designate to whom they want to give their shares of the trust. The trustor can require trust...more

Snell & Wilmer

Authorized Representatives – Fresh Look at an Old Rule

Snell & Wilmer on

Earlier this year, the Department of Labor issued an information letter explaining ERISA’s authorized representative requirement. Below are some of the takeaways employers may want to consider....more

Mitchell, Williams, Selig, Gates & Woodyard,...

New PLR Addresses Special Trustee's Power to Limit or Eliminate Testamentary General Power of Appointment

IRS Rules Appointment of Special Trustee and Special Trustee’s Subsequent Exercise of Power to Limit or Eliminate Trust Beneficiary’s Testamentary General Power of Appointment Will Not Constitute Exercise or Release for...more

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