appointment (of all or part of a trust fund)
- appointment (of all or part of a trust fund)
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appointment (of all or part of a trust fund)
England, Wales
The exercise of an express power (contained in a trust document and called a power of appointment) by the trustees of a trust, to direct (or redirect) the trust fund in favour of a particular beneficiary (or beneficiaries). The power is usually seen in discretionary trusts (where the beneficiaries do not have an automatic right to the income or capital of the trust fund), but can also be found in interest in possession (also known as life interest trusts); it often allows the trustees to redirect the income or capital of the trust away from (or in favour of) the life tenant.
Related terms
Practical Law Dictionary. Glossary of UK, US and international legal terms.
www.practicallaw.com.
2010.
Look at other dictionaries:
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