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Business Definition for: power of appointment
Dictionary of Banking Terms
power of appointment

right granted to a person acting as trustee to appoint others to dispose of or distribute an estate according to the terms of a will or a deed of trust. Ageneral power of appointment authorizes the person receiving the property (called the donee) to sell or dispose of it without restriction; a limited power of appointment limits the distribution of the estate to named individuals.

Dictionary of Insurance Terms
power of appointment
See also estate planning distribution
Related Terms:
estate planning distribution

plan that involves distribution of property by living hand and distribution of property after the death of its owner. Distribution by living hand can take the form of an outright gift, a grant of limited property interest, or a gift in trust. Distribution at death can be accomplished through a will or, if there is no will, as directed by state law;

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 Copyright © 2000, 1995, 1991, 1987 by Barron's Educational Series, Inc. Reprinted by arrangement with Publisher.
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