x created a trust, income to D for life, remainder to R. D has an unlimsted powe
ID: 1128962 • Letter: X
Question
x created a trust, income to D for life, remainder to R. D has an unlimsted power to invade corpus for his own benefit Is the property included in D's gross estate? -2 Refer to F-1· Assume D's power was exercisable(only if necessary to maintain D's standard of living. Is the property inçluded in D's gross estate? Refer to·1-1. Assume D can exercise the power only with the consent of x. Is the property included in D's gross ostate? Refer toI-1. Assume D can exercise the power only with the consent of R. Is the property included in D's gross estate? I-5 x creates a trust, income to D for life, then to B for lite, remainder to R. D and A have a joint power to invade coxpus for the benefit of any person in the world. If D or dies, the power is exereisable by the survivor. Is the property in D's gross estate? Refer to1-5. Assume that the power terminates on D's death. ts the property in D's gross estate?Explanation / Answer
Refer to I-5 where there is written as if D or A dies, the power is exercisable by the survivor so that in I-6 where we have to give the solution as power terminates on D's death so the property should not be in the D's gross estate as it should be transfer to the supervisor or we can say it should be transfer to A.
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