Beware of pre-October 22, 1942 general powers of appointment.

  • Are assets subject to a general power of appointment (GPOA) includible in the powerholder’s estate? Generally, yes.
  • However, for trusts established before October 22, 1942, there’s an exception in which the assets subject to the GPOA aren’t necessarily includible in the estate of the powerholder.
  • Practitioners should be aware of this as these trusts wind down.

Co-authored with Emily B. Pickering, senior associate at Morgan, Lewis & Bockius LLP, this article reprint appeared in the June 1, 2019 issue of WealthManagement.com’s Trusts & Estates journal. 

Download to read the full article reprint.

Please see important disclosures at the end of the article.

Download Article