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Which of the following statements is / are correct? 1. A general power of appointment may...

Which of the following statements is / are correct?

1. A general power of appointment may cause inclusion of the assets under the power in the gross estate of the power holder without having had the power holder exercise the power. 2. A medical durable power of attorney permits the powerholder to direct the withholding of artificial life sustaining methods or procedures.

a. 1 only. b. 2 only. c. Both 1 and 2. d. Neither 1 nor 2.

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Answer #1

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Only the statement .1 is correct - A general power of appointment may cause inclusion of the assets under the power in the gross estate of the power holder without having had the power holder exercise the power.

  • The holder of a general power of appointment has the right to assign asset of the grantor to anyone for any reason.
  • The holder of general power of appoinment have to include the value of asset in his gross estate over which power has been granted ,either he has exercise the power or not
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