power of appointment

power of appointment
power of appointment: a power granted under a deed or will authorizing the donee to dispose of an estate in a specified manner for the benefit of the donee or of others
general power of appointment: a power of appointment which the donee may exercise in favor of anyone including himself or herself; specif: a power of appointment defined by the Internal Revenue Code as one exercisable in favor of the individual possessing the power, his or her estate, his or her creditors, or the creditors of his or her estate with certain specified qualifications
limited power of appointment: special power of appointment in this entry; also: a power of appointment which the donee may exercise in favor of anyone but himself or herself
special power of appointment: a power of appointment which the donee may exercise in favor of only a designated person or class of persons not including himself or herself or his or her estate
testamentary power of appointment: a power of appointment that the donee may exercise only in his or her will

Merriam-Webster’s Dictionary of Law. . 1996.

power of appointment
n.
Authority given by a donor or testator allowing a donee to choose the beneficiaries of a fund, trust, or estate; title to the transferred property passes directly from the donor or testator to the beneficiaries chosen by the donee.

The Essential Law Dictionary. — Sphinx Publishing, An imprint of Sourcebooks, Inc. . 2008.


power of appointment
The legal authority to decide who will receive someone else's property, usually property held in a trust. Most trustees can distribute the income from a trust only according to the terms of the trust, but a trustee with a power of appointment can choose the beneficiaries, sometimes from a list of candidates specified by the grantor. For example, Karin creates a trust with power of appointment to benefit either the local art museum, symphony, library, or park, depending on the trustee's assessment of need.
Category: Wills, Trusts & Estates → Getting Your Affairs in Order
Category: Wills, Trusts & Estates → Living Trusts & Avoiding Probate
Category: Wills, Trusts & Estates → Living Wills & Medical Powers of Attorney
Category: Wills, Trusts & Estates → Wills

Nolo’s Plain-English Law Dictionary. . 2009.

power of appointment
England, Wales
An express power conferred by someone (the donor) to another (the donee), that enables the donee to dispose of property belonging to the donor, on terms prescribed by the donor.
A power of appointment is usually seen in a trust document, although this is not always the case. A power of appointment can be a general power of appointment, a special power of appointment, or a hybrid of the two.

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.


power of appointment
n. A donee's power, once authorized by the donor, to name the beneficiaries of the donor's property or income. The donee may not select anyone other than him- or herself. The donor may create this power by deed or by will, and it may be vested in any adult individual, or the donor may reserve the power for his or her self.

Webster's New World Law Dictionary. . 2000.


power of appointment
A power that is conferred upon a donee to dispose of the donor's property by nominating and selecting one or more third-parties to receive it. The property may consist of tangible items like cars, boats, and household items, or it may consist of an intangible interest in property, such as the right to receive dividend income from stocks.

Dictionary from West's Encyclopedia of American Law. 2005.

power of appointment
n.
   the right to leave property by will, transfer, gift or distribution under a trust. Such a power is often found in a trust in which each of the trustors (the creators of the trust, usually a husband and wife) is empowered to write a will leaving his or her share (or some part) to someone. If the power of appointment is not used then it expires on the death of the person with the power.

Law dictionary. . 2013.

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Look at other dictionaries:

  • power of appointment — n. the authority granted to a person by deed or will to dispose of the grantor s property …   English World dictionary

  • Power of appointment — A power of appointment is a term most frequently used in the law of wills to describe the ability of the testator (the person writing the will) to select a person who will be given the authority to dispose of certain property under the will.… …   Wikipedia

  • power of appointment — Authority enabling one person to dispose of an interest which is vested in another. Re Zanatta, 99 NJ Eq 339, 131 A 515. A liberty or authority reserved by, or limited to, a person to dispose of real or personal property for his own benefit, or… …   Ballentine's law dictionary

  • power of appointment — noun authority given (in a will or deed) by a donor to a donee to appoint the beneficiaries of the donor s property • Hypernyms: ↑authority, ↑authorization, ↑authorisation, ↑potency, ↑dominance, ↑say so * * * noun : a legal authority granted… …   Useful english dictionary

  • power of appointment, special — n. A power of appointment that limits the possible beneficiaries to members of a specified group. The Essential Law Dictionary. Sphinx Publishing, An imprint of Sourcebooks, Inc. Amy Hackney Blackwell. 2008 …   Law dictionary

  • power of appointment trust — see trust Merriam Webster’s Dictionary of Law. Merriam Webster. 1996 …   Law dictionary

  • power of appointment — /ˌpaυər əv ə pɔɪntmənt/ noun the power of a trustee to dispose of interests in property to another person …   Dictionary of banking and finance

  • limited power of appointment — Power of appointment is limited when it is exercisable only in favor of persons or a class of persons designated in the instrument creating the power. Johnstone v. Commissioner of Internal Revenue, C.C.A.9, 76 F.2d 55, 57. See also power of… …   Black's law dictionary

  • limited power of appointment — Power of appointment is limited when it is exercisable only in favor of persons or a class of persons designated in the instrument creating the power. Johnstone v. Commissioner of Internal Revenue, C.C.A.9, 76 F.2d 55, 57. See also power of… …   Black's law dictionary

  • power of appointment — Law. the authority granted by a donor to a donee to select the person or persons who are to enjoy property rights or income upon the death of the donor or of the donee or after the termination of existing rights or interests. [1930 35] * * * …   Universalium

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