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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 othersgeneral 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 qualificationslimited 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 herselfspecial 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 estatetestamentary power of appointment: a power of appointment that the donee may exercise only in his or her will
Merriam-Webster’s Dictionary of Law. Merriam-Webster. 1996.
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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. Amy Hackney Blackwell. 2008.
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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 OrderCategory: Wills, Trusts & Estates → Living Trusts & Avoiding ProbateCategory: Wills, Trusts & Estates → Living Wills & Medical Powers of AttorneyCategory: Wills, Trusts & Estates → Wills
Nolo’s Plain-English Law Dictionary. Gerald N. Hill, Kathleen Thompson Hill. 2009.
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England, WalesAn 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.See also power of advancement.
Practical Law Dictionary. Glossary of UK, US and international legal terms. www.practicallaw.com. 2010.
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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. Susan Ellis Wild. 2000.
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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.
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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. EdwART. 2013.
