Powers of Appointment Under the Restatement (Third) of Property

Abstract:     
This Article examines the various impacts of the Restatement (Third) of Property’s treatment of powers of appointment. It considers how the power of appointment device can be used by contemporary estate planners to achieve important non-tax dispositive goals: flexibility, control and creditor protection. The Article first highlights decisions made in the Law Institute - blessed Tentative Draft on powers of appointment that will impact estate planner. The author goes on to point out that the Tentative Draft provides property rules that differ in many instances from the tax rules and concepts on power of appointment, and then identifies aspects of the Tentative Draft that would usefully be clarified before its final publication.

Number of Pages in PDF File: 51

Keywords: Powers of Appointment, Estate planning, Restatement (Third) of Property

Accepted Paper Series