What are the tax implications to a holder of a special power of appointment? A – There are no tax implications B – They are subject to estate but not gift tax consequences C – They are subject to the annual $12,000 (in 2006) de minimus rule D – They are subject to estate but not generation skipping transfer tax consequences
What are the tax implications to a holder of a special power of appointment?
A – There are no tax implications
B – They are subject to estate but not gift tax consequences
C – They are subject to the annual $12,000 (in 2006) de minimus rule
D – They are subject to estate but not generation skipping transfer tax consequences
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