FUTURE INTERESTS-POWERS OF APPOINTMENT-FORMALITIES REQUIRED FOR RELEASE

Deceased had a general testamentary power of appointment over the corpus of a trust, which provided for a gift over to his heirs in default of appointment. Prior to his death, he executed a written document, under seal and for consideration, whereby he released the power, and further covenanted with the trustee who held the property, and with the individual takers in default, that he would not thereafter attempt to exercise the power. He delivered the document to the trustee, for itself, and as trustee for each individual taker in default. Held, the transaction effected a valid release of the power.

District of Columbia v. Lloyd, (D. C. App. 1947) 160 F. (2d) 581.