Trusts can be very flexible. One of the ways to add flexibility is by using powers of appointment. This article will examine what a power of appointment is and how it may be used to add flexibility to a trust. The following article by my friend and colleague Steve Hartnett, an experienced and qualified estate planning attorney, examines the tax consequences of powers of appointment.
Basics of Estate Planning: Powers of Appointment – Part 1
If you have questions about powers of appointment, we can help.
Timothy P. Murphy is an estate planning and elder law attorney whose practice emphasizes helping people to build, preserve and pass on their wealth. He works with his clients to accomplish their goals while avoiding unnecessary court proceedings and minimizing or eliminating exposure to death taxes.
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