Chelminska v. First Wisconsin Trust Co.

We must determine whether a beneficiary of a testamentary trust with both a life interest in the income of such trust and the power to appoint by will possesses a sufficient interest in the trust corpus to assign a portion of it for value during the beneficiary’s lifetime even though such assignment is to take effect at death. The trial court concluded that Mr. Nunnemacher’s will provided his daughter Pauline with a life estate and also with a general and beneficial power of appointment to bequeath the remainder in fee, thus giving her an absolute power of disposition for the purposes of…