Powers of Appointment in Trusts and Estates: Tax Consequences and Benefits of General and Limited POAs
Note: CLE credit is not offered on this program
Recording of a 110-minute CPE webinar with Q&A
This course will discuss using general and limited powers of appointment to incorporate adaptability in an estate plan. Our panel of trust and estate experts will discuss utilizing these powers to circumvent future unanticipated issues and the tax consequences of these choices.
- Powers of appointment
- Utilizing powers of appointment
- General vs. limited
- Tax considerations
- Income tax
- Estate and gift tax
- Recent rulings and cases
- Potential changes to the current tax regime
The panel will cover these and other key issues:
- What specific life circumstances might warrant including powers of appointment in a trust instrument, and how broad or narrow should those powers be?
- When might the tax consequences of including a general power outweigh its benefits?
- When does a trustee's discretionary power to distribute or accumulate amount to a taxable power of appointment?
- How powers of appointment can be used in generation-skipping transfer tax planning.
Russell A. Willis, III, JD, LLM
Planned Gift Design Services
Mr. Willis works as a freelance paralegal consultant with nonprofits, donors, and their advisors in structuring... | Read More
Mr. Willis works as a freelance paralegal consultant with nonprofits, donors, and their advisors in structuring charitable contributions of closely held business and real property interests, so as to serve the mutual advantage of all parties. He also provides legal research and advice on income and transfer tax planning more generally.Close