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Taxation - Federal Estate Tax - Powers Of Appointment - When Property Subject Thereto Is Taxable As Part Of Donee's Estate - Effect Of A Compromise, Charles J. O'Laughlin

Michigan Law Review

The decedent was a beneficiary of a trust established by his father and of two other trusts created by his mother. From his father's trust the decedent was to receive a portion of the income prior to his twenty-eighth birthday, when he was to receive the principal and accumulated income. His mother's trusts gave him the income for life, subject to certain restrictions before he attained the age of twenty-eight. Under all three trusts he had a general testamentary power of appointment. In case of nonexercise of this power, decedent's descendants were to be default takers under the donor's will, …