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Power Of Appointment
power of appointment
:a power granted under a deed or will authorizing the donee to dispose of an estate in a specified manner for the benefit of the donee or of others
general power of appointment
: a power of appointment which the donee may exercise in favor of anyone including himself or herself
: a power of appointment defined by the Internal Revenue Code as one exercisable in favor of the individual possessing the power, his or her estate, his or her creditors, or the creditors of his or her estate with certain specified qualifications
limited power of appointment
: special power of appointment in this entry
: a power of appointment which the donee may exercise in favor of anyone but himself or herself
special power of appointment
: a power of appointment which the donee may exercise in favor of only a designated person or class of persons not including himself or herself or his or her estate
testamentary power of appointment
: a power of appointment that the donee may exercise only in his or her will
Source: Merriam-Webster's Dictionary of Law ©1996. Merriam-Webster, Incorporated. Published under license with Merriam-Webster, Incorporated.