Power To Control
Power To Control
Definition: Defined in irc § 674 as the ability of a grantor or nonadverse party to control the beneficial enjoyment of the corpus or the income therefrom without the approval of any adverse party. This results in the grantor being treated as the owner of the portion of the trust to which this beneficial enjoyment applies.
Definition: Defined in irc § 674 as the ability of a grantor or nonadverse party to control the beneficial enjoyment of the corpus or the income therefrom without the approval of any adverse party. This results in the grantor being treated as the owner of the portion of the trust to which this beneficial enjoyment applies.