By: Martin M. Shenkman, CPA, MBA, JD
The right and authority to transfer or dispose of property that you do not own. Depending on the nature of the power, this can cause the value of the asset to be included in your estate. This is generally done intentionally when establishing a QPRT in order to avoid adverse tax consequences to the transfer.
Subscribe to our email list to receive information on consumer webcasts and blogs, for practical legal information in simple English, delivered to your inbox. For more professional driven information, please visit Shenkman Law to subscribe.