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Powers of Appointment – Who Holds the Power?

Estate Planning attorneys balance competing interests when creating estate plans. Uncertainty about the future concerning taxes and each beneficiary’s situation requires flexibility in an Estate Plan. Powers of appointment offer Estate Planning attorneys a way to add flexibility to a plan without complication. When creating powers of appointment, it’s important to consider not only the reason for including the power but also the way it needs to be exercised

November 10, 2022 //  by Andrew Slaton-Freeman

Part of our job here at SSLF is balancing factors in a client’s estate plan. This means that we must both get to know you as an individual and understand your family dynamics. We also have to consider taxation, the balance between protection and access, and any additional guidance that your beneficiaries may require in the future.

We also have to incorporate flexibility. After all, who knows what will happen in the future? Legislation could change taxes and/or legal rights. The economic situation can change. Beneficiaries can pass away or become alienated from the trustor. Powers of appointment are one way we build both flexibility and resilience into a plan without creating additional complications.

These powers exist in two broad categories: 1) general, meaning the holder has wide latitude to exercise it. 2) limited, which is much narrower.

Click here to learn more!

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Andrew Slaton-Freeman
Andrew Slaton-Freeman
Estate Planning Attorney at Slaton Schauer Law Firm, PLLC
Before practicing exclusively in Estate Planning Law, Mr. Slaton-Freeman worked in research contracts for Texas A&M University, for a major international defense contractor, and the Texas Office of the Attorney General. His background includes trial litigation, business law, analysis of complex contracts, and estate planning.
Andrew Slaton-Freeman
Latest posts by Andrew Slaton-Freeman (see all)
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Category: Estate Planning, GPOA, Legal Education, LPOA, powers of appointment

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