general power of appointment

A general power of appointment gives the holder, also known as the donee , the broad power to give away the decedent ’s property to whoever the holder determines. For example, if a holder of a power of appointment can give the property to anyone in the world, that is a general power of appointment.

If, however, the power of appointment holder can only choose to distribute the decedent’s property to a list of specified beneficiaries , then that holder instead has a special power of appointment .

[Last reviewed in January of 2023 by the Wex Definitions Team ]

Keywords

• trusts and estates

Wex

• LIFE EVENTS
• financial events
• wills
• PROPERTY
• trusts
• inheritances & estates
• wex definitions
• legal education and practice
• property law
• money and financial problems