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Bob had a will drafted which formed a trust for his wife that would be funded with a million dollars at his death. The trust is required to give her all income annually and allows her to designate who among their children will receive the trust principal outright as a distribution free and clear of any trust at her death. Bob's wife possesses a: a. A special power of appointment b. A general power of appointment c. A special power of appointment that is subject to a "5 or 5" general power of appointment d. A general power of appointment that is an exception to the general rule of estate inclusion under IRC §2041.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91787910

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