Unlike a general power of appointment, the refusal of the appointed party to exercise a specific power of appointment causes the designated property to revert as a gift to the members of a group or a class.
42.
Unlike a general power of appointment, the refusal of the appointed party to exercise a specific power of appointment causes the designated property to revert as a gift to the members of a group or a class.
43.
Characteristically, discretionary trusts provide for a discretionary distribution of income only, but in some cases the trustees also have a power of appointment with respect to the capital in the trust, i . e . the corpus.
44.
In religious policy, Louis XII re-instituted the Pragmatic Sanction, which established the Roman Catholic Church in France as a " Gallic Church " with most of the power of appointment in the hands of the king or other French officials.
45.
B ) Settlement of an inheritors calling mechanism, especially in the event of a Power of Appointment ( the representative has some disposition capabilities on the inheritance ), with remission to the moment of its exercise ( # 17 ).
46.
As the situation escalated, Governor Bob McDonnell made a statement that if the Board of Visitors did not resolve the issue by their June 26 meeting, he would use his power of appointment to replace all of the board members.
47.
It is a trust that qualifies for the marital deduction, provided that the surviving spouse is given the income at least annually and the surviving spouse has a general power of appointment over the trust property remaining at his death.
48.
Apart from the fact that the chief of police was selected by the Mayor with the Board's approval, the Board had full powers of appointment and dismissal of all members of the force and was charged with general administrative duties.
49.
A gener was the holder of the power to appoint to himself, his estate, his creditors, or the creditors of his or her estate the right to have the beneficial use and enjoyment of certain property covered by the power of appointment.
50.
South Dakota is the first and only state in the US with a third party discretionary trust statute for asset protection, which states that a discretionary interest in third party trust, limited power of appointments, and remainder interests are not considered property interests.
