### Question
How does Estate and Gift Taxes define general power of appointment?


### Answer
Under *26 U.S.C. § 2514*, **general power of appointment** is defined as:

> a power which is exercisable in favor of the individual possessing the power (hereafter in this subsection referred to as the "possessor"), his estate, his creditors, or the creditors of his estate

#### Citation:
  - *26 U.S.C. § 2514*
  - Heading: **Subtitle B-Estate and Gift Taxes > CHAPTER 12-GIFT TAX > Subchapter B-Transfers**

