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KembaraXtra – Legal Terms – Power of Appointment
A power of appointment is a legal authority allowing one person to distribute property owned by another person.
The owner of the property grants the power to a donee, who may appoint the property to selected beneficiaries.
Powers of appointment may be general, special, or hybrid depending on the limits imposed by the donor.
Appointees under a power generally have fewer rights than beneficiaries under a trust.
An appointment made outside the permitted class or for improper purposes may be void as a fraud on the power.
A power of appointment is a legal authority allowing one person to distribute property owned by another person.
The owner of the property grants the power to a donee, who may appoint the property to selected beneficiaries.
Powers of appointment may be general, special, or hybrid depending on the limits imposed by the donor.
Appointees under a power generally have fewer rights than beneficiaries under a trust.
An appointment made outside the permitted class or for improper purposes may be void as a fraud on the power.
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