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Jamie gives Corinne the power to appoint the $1,000,000 in his bank account to herself or to her mother, but only for educational expenses. Which
Jamie gives Corinne the power to appoint the $1,000,000 in his bank account to herself or to her mother, but only for educational expenses. Which of the following statements is correct?
A. Corinne has a general power of appointment.
B. Corinne has a limited power of appointment.
C. If Corinne dies while holding the power of appointment, the value of Jamies bank account will be included in her gross estate for federal estate tax purposes.
D. Both (A) and (C) are correct.
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