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Jamie gives Corinne the power to appoint the $1,000,000 in his bank account to herself or her mother. Which of the following statements is correct?
Jamie gives Corinne the power to appoint the $1,000,000 in his bank account to herself or her mother. Which of the following statements is correct?
A. Jamie has given Corinne a general power of appointment.
B. If Corinne dies while holding the power of appointment, the $1,000,000 bank account will be included in Corinnes gross estate for federal estate tax purposes.
C. Both (A) and (B) are correct.
D. Neither (A) nor (B) are correct.
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