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power of appointment

   Also found in: Legal, Financial, Wikipedia 0.01 sec.
power of appointment
n. pl. powers of appointment
Authority granted to one person by another to transfer property upon the death of the latter.
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
ThesaurusLegend:  Synonyms Related Words Antonyms
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"
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He/she shall have no power of veto but shall have the same powers as any other member of the school committee to vote upon all measures coming before it; "The mayor shall have no power of appointment except those powers specifically granted to the mayor in this charter except as to the appointment of the secretaries, stenographers, clerks, telephone operators, and messengers connected with his/her office whose appointment shall not be subject to the civil service laws.
Research Bureau poses final questions for local candidates by Telegram & Gazette (Worcester, MA)
It amends the definition of "beneficiary" to clarify that a permissible appointee is not a beneficiary unless the power of appointment is irrevocably exercised in favor of the appointee.
CS/HB 965--Trust administration by Florida Bar News
The limited power of appointment provision might specify the class of individuals or entities (such as Tom's spouse, Tom's descendants, Bill and Laura's descendants, and/or charities) who could be included but should specifically exclude Tom's estate and Tom's creditors.
Drafting for flexibility in special needs trusts by Nelson-Reade, Patricia / The Exceptional Parent
 
 
 
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