General power of appointment definition

General power of appointment means a power of appointment exercisable in favor of the powerholder, the powerholder's estate, a creditor of the powerholder, or a creditor of the powerholder's estate.

General power of appointment means a general power as that term is defined in section 2 of the powers of appointment act of 1967, 1967 PA 224, MCL 556.112. However, a power exercisable in favor of the donee, his or her estate, his or her creditors, or the creditors of his or her estate that is limited by an ascertainable standard is not a general power of appointment.

General power of appointment means a power of

Examples of General power of appointment in a sentence

• General power of appointment means a power of appointment exercisable in favor of a powerholder, the powerholder’s estate, a creditor of the powerholder, or a creditor of the powerholder’s estate.

• According to the Pennsylvania Supreme Court, if “the donee has a General power of appointment, the effect of the statute is to create a presumption that a general devise of the realty or a bequest of the personalty of the donee operates as an execution of the power of appointment.” Estate of Jaekel, 424 Pa. at 438, 227 A.2d at 854.

• General power of appointment:- Cannot expand the beneficiary designation because the individuals mustbe designated as of the date of the IRA owner’s death.Disadvantages of Naming a Trust 1.

• General power of appointment over property [Repealed] 15 NoteChanges authorised by subpart 2 of Part 2 of the Legislation Act 2012 have been made in this official reprint.Note 4 at the end of this reprint provides a list of the amendments incorporated.This Act is administered by the Inland Revenue Department.

• General power of appointment" means a power of appointment exercisable in favor of a powerholder, the powerholder's estate, a creditor of the powerholder or a creditor of the powerholder's estate.[PL 2021, c.

More Definitions of General power of appointment

General power of appointment means a power of appointment exercisable in

General power of appointment means any power that would cause income to be taxed to the fiduciary in his individual capacity under Section 678 of the Internal Revenue Code and any power that would be a general power of appointment, in whole or in part, under Section 2041(a)(2) or 2514(c) of the Internal Revenue Code.

General power of appointment means a power of appointment exercisable in favor of the power holder, the power holder's estate, a creditor of the power holder, or a creditor of the power holder's estate.

General power of appointment means a power of appointment exercisable in favor of the

General power of appointment means a power that is exercisable in favor of the individual possessing the power, the individual's estate, the individual's creditors, or the creditors of the individual's estate other than either of the following:

General power of appointment means an unfettered power of appointment to such object or objects as the appointer may think fit;

General power of appointment means general power as that term is defined in section 2 of the powers of appointment act of 1967, 1967 PA 224, MCL 556.112.