They may be annotated. Use only 1 blue book. Write on only 1 side of each page. The premium is on a concise and lawyer like answer. Think before you write.
All questions bear the same weight.
Millicent was given a special power of appointment, as an individual and not as trustee, to appoint the remainder to anyone she chose other than to herself, her creditors, her estate or the creditors of her estate. However, she gave Michael, in his personal capacity a general power of appointment over the corpus, but provided that he could exercise the power only with the consent of the local probate court. Michael and Millicent jointly owned all of the remaining shares of stock in the company. Discuss all of the estate and gift tax effects, if any, of these transfers. Edward and Alice were divorced.