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
The saga of the Smith and Alexander families continues with a discussion of powers of appointment and the implications of Johnny’s exercise of the limited power of appointment granted to him under his parents’ Family Trust....more
On August 11th, Governor McCrory signed North Carolina Senate Bill 336, Act to Amend the Law Governing Estate Planning and Fiduciaries (the “Act”). Notably, the Act adopts a procedure for living probate in North Carolina and...more