power of appointment


Also found in: Thesaurus, Legal, Financial, Wikipedia.
Related to power of appointment: General Power Of Appointment

power of appointment

n. pl. powers of appointment Law
Authority enabling a person to dispose of a decedent's property.

power of appointment

n
(Law) property law authority to appoint persons either from a particular class (special power) or selected by the donee of the power (general power) to take an estate or interest in property
ThesaurusAntonymsRelated WordsSynonymsLegend:
Noun1.power of appointment - authority given (in a will or deed) by a donor to a donee to appoint the beneficiaries of the donor's property
authority, potency, authorization, authorisation, say-so, dominance - the power or right to give orders or make decisions; "he has the authority to issue warrants"; "deputies are given authorization to make arrests"; "a place of potency in the state"
References in periodicals archive ?
The spokesman, giving the factual position said that Federal Cabinet in its decision of February 7, 2017 had delegated Federal Govts Power of Appointment to the Finance Minister with the concurrence of the Prime Minister whereby Finance Minister and Prime Minister can appoint CEOs of corporations, statutory bodies, autonomous and semi autonomous bodies attached with the Finance Division.
Giving the factual position, the Spokesman said that Federal Cabinet in its decision of February 7, 2017 had delegated Federal Government's power of appointment to the Finance Minister with the concurrence of the Prime Minister whereby Finance Minister and Prime Minister can appoint CEOs of corporations, statutory bodies, autonomous and semi autonomous bodies attached with the Finance Division.
The spokesman, giving the factual position said that Federal Cabinet in its decision of February 7, 2017 had delegated Federal Govt's Power of Appointment to the Finance Minister with the concurrence of the PM whereby Finance Minister and Prime Minister can appoint CEOs of corporations, statutory bodies, autonomous and semi-autonomous bodies attached with the Finance Division.
The spokesman while giving the factual position said that Federal Cabinet, in its decision of February 7, 2017, had delegated Federal Government's Power of Appointment to the Finance Minister with the concurrence of the Prime Minister whereby Finance Minister and Prime Minister can appoint CEOs of corporations, statutory bodies, autonomous and semi-autonomous bodies attached with the Finance Division.
A limited power of appointment is a powerful tool for building flexibility into an ILIT.
The husband was named trustee of the trust; he did not have a general power of appointment over the trust property, and his discretionary authority to distribute the corpus to himself and to the children was limited by an ascertainable standard.
A current beneficiary is any person who at any time during the tax year is entitled to, or at the discretion of any person may receive, a distribution from the principal or income of the trust (determined without regard to any power of appointment to the extent that such power remains unexercised at the end of the tax year).
While this may solve the grantor trust issue, practitioners had been concerned about whether having certain powers creates adverse transfer tax consequences as to members of the distribution committee--specifically whether there might be a taxable gift by the members back to the grantor when trust distributions are made to the grantor and/or whether having such powers would be considered a general power of appointment that would cause estate tax inclusion in their respective estates under [section]2041.
The terms of the trust confer upon the beneficiary a testamentary limited power of appointment (LPOA).
The forum has the full support of multiple government agencies, including the Power of Appointment of Custodian of the Two Holy Mosques King Abdullah.
Power of appointment legislation has existed in New York since 1830.
The IRS has recently considered the question of whether a power of appointment in a trust would disqualify the trust as one that was exempt from GST taxes.