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is.
(2) Is certain property with respect to which decedent had
a power of appointment at the time of her death includible in
decedent’s gross estate? We hold that it is.
Background
This case was submitted fully stipulated. The facts that
have been stipulated are so found.
At the time the petition was filed, Carl Stewart Christensen
(Mr. Christensen), decedent’s son and the personal representative
of the estate, resided in Seattle, Washington.
On January 10, 1996, Floy M. Christensen, a resident of
Kirkland, Washington, died testate at the age of 102. On Febru-
ary 25, 1982, Carl A. Christensen, decedent’s spouse to whom she
had been married for approximately 50 years, died testate.
Pursuant to Carl A. Christensen’s will, which he executed on
August 26, 1980, a trust (trust) was created for the benefit of,
inter alia, decedent. Pursuant to the terms of Carl A.
Christensen’s will creating that trust, decedent had the power to
withdraw (power to withdraw) from the trust annually, by written
request to the trustee, a share of the trust’s principal in an
amount not exceeding the greater of $5,000 or 5 percent of the
value of such principal. Carl A. Christensen’s will creating the
trust contained no limitations or directions on the exercise of
decedent’s power to withdraw. When decedent died, she had not
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