Power Of Appointment (Noun)
Meaning
Authority given (in a will or deed) by a donor to a donee to appoint the beneficiaries of the donor's property.
Classification
Nouns denoting attributes of people and objects.
Examples
- The power of appointment granted in the will allowed the executor to distribute the estate among the donor's children as they saw fit.
- The deed included a power of appointment clause, giving the trustee discretion to allocate the trust assets to the beneficiaries.
- The testator's power of appointment was limited to naming only her grandchildren as beneficiaries of the trust.
- The power of appointment was exercisable only by will, meaning the donor had to specify the beneficiaries in their last will and testament.
- The donee's power of appointment was subject to certain restrictions, including a requirement to allocate at least half of the property to charitable organizations.