Power Of Appointment at Legal Glossary
What is it? The legal authority to decide who will receive someone elses 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 trustees assessment of need.Law Definition Added By: Mia
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