Under IRC § 2041(b), the term “general power of appointment” means a power which is exercisable in favor of the decedent, his estate, his creditors, or the creditors of his estate; except that– a power to consume, invade, or appropriate property for the benefit of the decedent which is limited by an ascertainable standard relating to the health, education, support, or maintenance of the...Read More
BY MARY E. VANDENACK
Do you have a disabled beneficiary? A disabled beneficiary raises special issue in designing an estate plan. In addition to financial dependency, the disabled beneficiary is often dependent on parents or other family in other ways that should be considered in estate planning.
In developing an estate plan that includes a disabled beneficiary, give special consideration to...Read More