THE IMPACT OF THE LAW OF POWERS UPON OUR INTERNAL REVENUE LAWS

Authors

Montgomery B. Angell, Member of the New York City bar

Abstract

An interesting difference in view has arisen recently in the halls of the Harvard Law School on the use of powers of appointment under the federal estate tax act. One view is that the chief efficacy today of the power of appointment lies in its capacity for use in tax evasion, which should be corrected. The other view is that there is a salutary tendency toward using sensible and flexible powers of appointment, which should be encouraged in meeting changing and difficult family situations, but which would be checked were the former view accepted. Thus we find here the age-old clash between the benefits of an established and salutary device for controlling human affairs, and the asserted dangers arising out of a possible abuse. As shedding light upon the controversy, it may not be inappropriate to consider some of the problems underlying the taxation of property subject to a power of appointment.

Recommended Citation

Montgomery B. Angell, THE IMPACT OF THE LAW OF POWERS UPON OUR INTERNAL REVENUE LAWS, 39 Mich. L. Rev. 1269 (1941).
Available at: https://repository.law.umich.edu/mlr/vol39/iss8/2