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Each of the following is a general power of appointment except:

a. the power to appoint the property at death to one's own estate.
b. the power to appoint to a specified class of beneficiaries.
c. a 5x5 power.
d. a power to appoint assets to creditors.

User Caroll
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1 Answer

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Final answer:

The correct answer is option d, a power to appoint assets to creditors, which is not considered a general power of appointment because it is related to settling debts instead of distributing estate assets.

Step-by-step explanation:

The question deals with the concept of powers of appointment, which are a set of legal authorities that allow a person to designate who will receive certain assets or property. Specifically, the question asks to identify an option that is not a general power of appointment. Out of the options provided:

  • a. the power to appoint the property at death to one's own estate is indeed a type of testamentary power of appointment,
  • b. the power to appoint to a specified class of beneficiaries is another common feature of powers of appointment,
  • c. a 5x5 power refers to the beneficiary's limited power to withdraw the greater of $5,000 or 5% of the assets from a trust annually,
  • d. a power to appoint assets to creditors would typically not be considered a general power of appointment as it involves settling debts rather than distributing estate assets.

Therefore, option d is the correct answer as it is the one that is not a general power of appointment.

User Ryan Soderberg
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