Complimentary, non-CLE Teleconference recorded on
February 11, 2015
Powers of appointment are among the most commonly-used techniques in estate planning. Despite this fact, little case law and virtually no statutory law governing powers of appointment exists in many United States jurisdictions. As a result, much uncertainty exists in the planning and administration of estates, often leading to costly litigation. Does the residuary clause of a powerholder’s will exercise a general power of appointment? If a power of appointment is ambiguously drafted, may the powerholder give the appointive property only to some of the appointees, omitting others entirely? May a power of appointment be exercised in a record that is not a writing? What is the difference between a power of appointment, a fiduciary power, and a power of attorney? When is a contract to exercise a power of appointment enforceable? What are the rights of a powerholder’s creditors in the appointive property?
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