District of Columbia § 19-1705.03 Power to withdraw.

District of Columbia Statutes

§ 19-1705.03 — Power to withdraw.

District of Columbia § 19-1705.03

Title 19Descent, Distribution, and Trusts. [Enacted title]

Ch. 17Uniform Powers of Appointment Code.

Subch. VRights of Powerholder's Creditors in Appointive Property.

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Bluebook

D.C. Code § 19-1705.03 (2026).

Text

(a)For the purposes of this subchapter, and except as otherwise provided in subsection (b) of this section, a power to withdraw property from a trust is treated, during the time the power may be exercised, as a presently exercisable general power of appointment to the extent of the property subject to the power to withdraw.

(b)On the lapse, release, or waiver of a power to withdraw property from a trust, the power is treated as a presently exercisable general power of appointment only to the extent the value of the property affected by the lapse, release, or waiver exceeds the greater of the amount specified in 26 U.S.C. § 2041(b)(2) and 26 U.S.C. § 2514(e) or the amount specified in 26 U.S.C. § 2503(b), on [March 7, 2025].

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(a) For the purposes of this subchapter, and except as otherwise provided in subsection (b) of this section, a power to withdraw property from a trust is treated, during the time the power may be exercised, as a presently exercisable general power of appointment to the extent of the property subject to the power to withdraw.

(b) On the lapse, release, or waiver of a power to withdraw property from a trust, the power is treated as a presently exercisable general power of appointment only to the extent the value of the property affected by the lapse, release, or waiver exceeds the greater of the amount specified in 26 U.S.C. § 2041(b)(2) and 26 U.S.C. § 2514(e) or the amount specified in 26 U.S.C. § 2503(b), on [March 7, 2025].