Taxation of Estates and Gifts
Life Estate with Power of Appointment in Surviving Spouse
- The surviving spouse must be entitled to all the income from the interest for life.
- The income must be payable at least annually.
- The surviving spouse must have the power to appoint the entire interest to herself or her estate.
- The surviving spouse's power to appoint must be exercisable alone and in all events.
- Nobody has a power to appoint any part of the property to someone other than the surviving spouse.