Product Description

Powers of appointment are critical tools in estate planning that provide flexibility and control over the distribution of assets, yet they are often underutilized or misunderstood. Lawyers must understand the distinctions between general and limited (or special) powers of appointment, as these classifications carry significant tax and control implications. Properly drafted, these powers can help avoid unintended tax consequences, allow for asset protection, and facilitate intergenerational planning. In the probate process, the existence and exercise—or failure to exercise—a power of appointment can affect the administration of the estate, potentially altering the identity of beneficiaries and the distribution of assets. In probate litigation, disputes may arise regarding the interpretation, scope, or validity of such powers, especially if the language used in the governing instruments is ambiguous or if allegations of undue influence or lack of capacity are involved. As such, lawyers must not only be adept at drafting and implementing these powers but also be prepared to navigate their legal consequences in both routine estate administration and contested proceedings.

Agenda & Materials

• 9:30 - 9:35 am

  Welcome and Introduction

  Jennifer T. Fleming, Esq., Prince Lobel Tye LLP , Boston
  Patricia Keane Martin, Esq., Prince Lobel Tye LLP , Boston
  
• 9:35 - 10:10 am

  Estate Planning

  • What is a power of appointment and why are they used?
  • Distinction between limited and general powers of appointment
  • Estate and income tax implications
  • How to draft powers of appointment so that they work

  Jennifer T. Fleming, Esq., Prince Lobel Tye LLP , Boston
  Katelyn Versiackas, Esq., Prince Lobel Tye LLP , Boston
  
• 10:10 - 10:45 am

  Probate and Litigation

  • What is required for a testamentary power of appointment to be enforceable?
  • What is required from the document exercising the power?
  • What is required for the allowance, including notice requirements?
  • How is the power of the appointment implemented – a discussion of the intersection of the roles and responsibilities of the Personal Representative and the Trustee
  • Issues that arise when the power of appointment is improperly exercised or if the instrument creating the power is too vague
  • Traps for the unwary

  Jennifer A. Maggiacomo, Esq., Norfolk Probate and Family Court, Commonwealth of Massachusetts , Canton
  Patricia Keane Martin, Esq., Prince Lobel Tye LLP , Boston
  
• 10:45 - 11:25 am

  Hypotheticals and Real-World Scenarios

  Panel
  
• 11:25 - 11:30 am

  "Ask the Experts" Q&A Session and Key Takeaways

  Panel
  

Please Note

MCLE webcasts are delivered completely online, underscoring their convenience and appeal. There are no published print materials. All written materials are available electronically only. They are posted 24 hours prior to the program and can be accessed, downloaded, or printed from your computer.

Cochairs

Faculty

Fees

• $157.50 - MCLE Sponsor Member
• $87.50 - New Lawyer
• $87.50 - Pending Admittee
• $87.50 - Law Student
• $87.50 - Paralegal
• $175.00 - All Others

To apply for a need-based scholarship for this program, email scholarships@mcle.org.

Available FREE with an MCLE OnlinePass^® subscription.