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January 08, 2007

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J

Don't forget about Durable Powers of Attorney as opposed to ordinary Powers of Attorney and Special Powers of Appointment as opposed to General Powers of Appointment.

Then, of course, there's the death tax, which is also the estate tax. And as you know, fewer oppose the estate tax than the death tax. Ugh.

Freddie Aguilar

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amily

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Bogert, the encyclopedia of trust law along with Stevenson who developed trust law in America (despite its conflict with English law because of feudal notions rather than Constitutional law about property) claims that Powers of Appointment are property as much as a house, or money.

If so, the attempt to remove powers of appointment from the person appointed is as much theft or embezzlement as the actual removal of personal or real property. Since once created, property must be transferred, sold, or gifted, transfer to Executor or Trustee is theft or embezzlement unless the transfer is the sole act of the donor, and the donor has no preconditioned obligation under a previous will or trust - as Co Executor or first life beneficiary - to distribute all property within that obligation. To do otherwise, and distribute "held property subject to life beneficiary interest only" to attempt to make it into fee simple is theft of valuable property whose value is measurable by the extent to which the estate is included in that power - often the entire estate - if the power has been usurped inappropriately.

Richard Stabile Bergen County Real Estate

Great blog, these are issues that always draw my interest. Thanks for sharing and I will check your new blog.

Costa Rica Real Estate

The information on the power of appointment came pretty useful, thanks a lot !

Bankruptcy Discharge

First, thanks for this remarkable article. I have a question, how if someone died, and he/she doesn't have any relatives, and he doesn't make any will. What will happened with his/her assets?

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Conductman

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