Special Dispositive Provisions for Gifts During Incapacity

AuthorJerold I. Horn
ProfessionLawyer
Pages281-285
281
I. FORM 10.1: GIFTS ACCORDING TO REVOCABLE
TRUST AND POWER OF ATTORNEY
[From the Revocable Trust]
(C) Gifts.
(1) During the time described in subsection (B) of this Section, the
Trustee shall pay to any one or more of my wife and my descendants,
without any duty of equalization, so much or all, if any, of the trust estate
as the Independent Trustee in its sole and absolute discretion determines
to be advisable from time to time for me to make
a [gifts including (without limitation) gifts that because of Section 2503(e)
of the Code are not treated as transfers by gift for purposes of Chapter 12
of the Code.]
b [(i) gifts that are (or, if split between my wife and me according to Section
2513(a) of the Code, would be) excludable (because of Section 2503(b) of
the Code including, without limitation, because of Section 2503(c) of the
Code and rights to withdraw) from the total amount of my gifts under the
Code or deductible (because of the marital deduction according to Sec-
tion 2523 of the Code) for purposes of computing my taxable gifts under
the Code and (ii) gifts that because of Section 2503(e) of the Code are not
treated as transfers by gift for purposes of Chapter 12 of the Code. If the
United States gift tax is not in effect, the preceding sentence shall apply
as if the United States gift tax as it last existed were in effect.]
(2) The Trustee shall pay to my attorney in fact, for the attorney in fact
to make gifts and qualied transfers (dened in Section 2503(e) of the
Code) on my behalf according to specic authority in the power of attor-
ney, so much or all, if any, of the trust estate as, upon the basis of specic
10
Special Dispositive Provisions
for Gifts During Incapacity

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