Question
Marys husband, Patrick, died two years ago. Patricks will included the following three testamentary trusts: a trust for the benefit of Marys children, but giving
Marys husband, Patrick, died two years ago. Patricks will included the following three testamentary trusts: a trust for the benefit of Marys children, but giving Mary a general power of appointment over the trust assets for the remainder of her life (GPOA Trust), a bypass trust for the benefit of Marys children, but giving Mary a power to invade the trust assets for an ascertainable standard for the remainder of her life (Bypass Trust), and a charitable trust for the benefit of Marys alma mater (Charitable Trust). At Marys death, which of the trusts assets will be excluded from her gross estate?
- GPOA Trust.
- Bypass Trust.
- Charitable Trust.
A. 1 only.
B. 1 and 2.
C. 2 and 3.
D. None.
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