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The Perils of Jointly Held General Powers of Appointment

Bridget J. Crawford

Pace University School of Law

April 23, 2012

Tax Notes, Vol. 135, No. 4, 2012

This article provides an overview of the estate tax consequences of jointly-held general powers of appointment. To avoid triggering estate tax inclusion, a general power should be held with either the creator of the power or a person having a 'substantial' and 'adverse' interest in the exercise of the power. The determination that an interest is substantially adverse to the powerholder’s requires careful reference to the regulations. Jointly-held general powers of appointment are so complicated that they rarely are the most efficient drafting choice.

Number of Pages in PDF File: 5

Keywords: estate tax, power of appointment, general power, substantial, adverse

JEL Classification: K34, K39

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Date posted: April 24, 2012  

Suggested Citation

Crawford, Bridget J., The Perils of Jointly Held General Powers of Appointment (April 23, 2012). Tax Notes, Vol. 135, No. 4, 2012. Available at SSRN: http://ssrn.com/abstract=2044437

Contact Information

Bridget J. Crawford (Contact Author)
Pace University School of Law ( email )
78 North Broadway
White Plains, NY 10603
United States
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