Powers of Appointment. A person in whose favor a power of appointment could be exercised is not a beneficiary of an ESBT until the holder of the power of appointment actually exer- cises the power in favor of such person.
Powers of Appointment. A person to whom a dis- tribution may be made during any pe- riod pursuant to a power of appoint- ment (as described for transfer tax pur- poses in section 2041 and § 20.2041–1(b) of this chapter and section 2514 and § 25.2514–1(b) of this chapter) is not a potential current beneficiary unless the power is exercised in favor of that person during the period. It is immate- rial for purposes of this paragraph (m)(4)(vi)(A) whether such power of ap- pointment is a ‘‘general power of ap- pointment’’ for transfer tax purposes as described in §§ 20.2041–1(c) and 25.2514–1(c) of this chapter. The mere existence of one or more powers of ap- pointment during the lifetime of a power holder that would permit cur- rent distributions from the trust to be made to more than the number of per- sons described in section 1361(b)(1)(A) or to a person described in section 1361(b)(1)(B) or (C) will not cause the S corporation election to terminate un- less one or more of such powers are ex- ercised, collectively, in favor of an ex- cessive number of persons or in favor of a person who is ineligible to be an S corporation shareholder. For purposes of this paragraph (m)(4)(vi)(A), a ‘‘power of appointment’’ includes a power, regardless of by whom held, to add a beneficiary or class of bene- ficiaries to the class of potential cur- rent beneficiaries, but generally does not include a power held by a fiduciary who is not also a beneficiary of the trust to spray or sprinkle trust dis- tributions among beneficiaries. Noth- ing in this paragraph (m)(4)(vi)(A) al- ters the definition of ‘‘power of ap- pointment’’ for purposes of any provi- sion of the Internal Revenue Code or the regulations.
Powers of Appointment. The following provisions apply to Powers of Appointment granted under this Trust Agreement:
Powers of Appointment. The powers reserved and granted in this section, if properly exercised, shall take priority over any other provision in this Agreement governing the distribution of Trust Property to remainder beneficiaries.
Powers of Appointment. If the Beneficiary dies before receiving the Beneficiary's trust in full, then upon the death of the Beneficiary, the Beneficiary may appoint the Beneficiary's trust as follows:
Powers of Appointment. The powers of appointment of a Receiver herein contained shall be in addition to all powers of appointment of the Chargee under applicable law and such powers shall remain exercisable from time to time by the Chargee in respect of all or any part of the Charged Property.
Powers of Appointment. The Trustee shall distribute any trust principal or trust income as to which a power of appointment is exercised to the designated appointee or appointees (whether living at the time of exercise or thereafter born) upon such conditions and estates, in such manner (in trust or otherwise), with such powers, in such amounts or proportions, and at such time or times (but not beyond the period permitted by any applicable rule of law relating to perpetuities) as the holder of the power may specify in the instrument exercising the power. To be effective, the exercise of any power of appointment granted under this Trust shall make specific reference to the provision creating the power. In determining whether a testamentary power of appointment has been exercised, the Trustee, without liability, may rely on a Will admitted to probate in any jurisdiction as the Will of the holder of the power or may assume the holder left no Will in the absence of actual knowledge of a Will within three (3) months after the holder’s death.
Powers of Appointment. The Trustee shall hold the capital and income of the Trust Fund upon such trust in favour or for the benefit of all or such one or more Beneficiaries subject to the Rules and in accordance with instructions provided by the Company or the Committee by any deed or deeds revocable during the Trust Period or irrevocable and executed during the Trust Period as the Trustee shall appoint. Provided that no exercise of the power of appointment in this clause 7 shall invalidate any prior appointment payment or application of all or any part or parts of the capital or income of the Trust Fund if it is or has been made under any other power or powers conferred by this Settlement or by law. Any instructions provided by the Company or the Committee to the Trustee must allow for a reasonable period of time (which in any event must be no less than ten (10) working days) for the Trustee to carry out such instructions.
Powers of Appointment. Except as provided in section 8.1.3 below, or unless otherwise provided in the particular grant of the power, the power of the donee over any power of appointment granted in this instrument shall include all lawful exercises of it, without limitation, specifically including, but not limited to, the power to make appointments outright to, or to a trustee to hold in trust for the exclusive benefit of, any one or more of the objects of the power; to create life estates and other limited estates; to create general and special powers of appointment, except [unless specifically provided by the terms of the grant or under section 8.1.4] that a limited power of appointment may not be used to create in any person a power to appoint property further, and to appoint subject to lawful spendthrift restrictions and other lawful conditions, provided that no one other than an object of the power is benefitted by such appointment. Any exercise of any power of appointment need not be in equal shares among the objects of the power and may entirely exclude one or more of the objects of the power.
8.1.1. Except as may be specifically provided in the particular grant of a power of appointment to a donee, a power of appointment created under this instrument shall be exercisable only personally by the specifically named donee of the power and not by an agent for, or a fiduciary of, the donee; the death of the donee of the power shall not cause any descendant of the donee to be substituted with respect to the power and no anti-lapse provision of law shall apply. In exercising any power of appointment granted in this instrument, the exercise must be in writing signed by the donee, specific reference to the power of appointment must be made in the will or other instrument by which the donee exercising the power exercises it, and such reference must purport to exercise such power. An exercise of a power of appointment by will shall only be effective if the document purporting to exercise the power is properly executed as a will and is admitted to probate within the time specified in section 8.7 below.
8.1.2. The terms “special power of appointment” or “limited power of appointment” are used interchangeably in this instrument. A power of appointment described as being a special or limited power of appointment does not include the power to appoint to the donee holding the power, the donee’s estate, the donee’s creditors, or the creditors of the donee’s estate.
8.1.3. Unless other speci...
Powers of Appointment. Any poxxx xx xxpointment created under this Agreement may be exercised only by an express reference to the power which includes the name of the Grantor. A person exercising a power of appointment may appoint trust funds outright or in trust. The choice of terms, Trustees and jurisdiction of any trust shall be entirely within the discretion of the person having the power of appointment, except to the extent otherwise expressly provided in this Agreement. No power of appointment shall be exercisable by a beneficiary over any property or its proceeds added to a trust by means of a disclaimer by such beneficiary.
