Power of Appointment
Definition - What does Power of Appointment mean?
The power of appointment refers to a person being given the power, through a will or other legal document, to disperse property rights following the death of a person, or another event. So, for example, a person who has been given the power of appointment through a will may give a person's house to their children, their car to a grandchild, etc.
Justipedia explains Power of Appointment
Sometimes, a person may be given the power of appointment with specific instructions on how to disperse property rights. Other times, the person who has the power of appointment may be allowed to choose how property rights are dispersed. In either case, the person who has the power of appointment has a major role to play in giving out property after a person dies.