At the time of her death,Abigail held a general power of appointment over a trust created by her grandmother in 1990.Since Abigail never exercised the general power,none of the trust is included in her gross estate.

Question

Quizplus · Accepted Answer

A general power of appointment allows the holder to direct the distribution of trust assets, and if not exercised, the value of the trust is still included in the holder's gross estate for estate tax purposes.

At the Time of Her Death,Abigail Held a General Power