Power Of Appointment Legal Meaning and Definition

Here is a simplified definition of the legal term Power Of Appointment.

Power of Appointment (noun): This is the legal authority granted, usually by a will or trust, granting someone the ability to determine how to distribute, transfer, or gift a set of assets upon the death of the one granting this power. This authority can be:

1. General, where the person holding this power has the freedom to distribute the assets to any person they choose, or

2. Specific, where the person holding this power is only allowed to distribute the assets to a pre-defined group of individuals.