Appointment Flashcards
1
Q
POWERS OF APPOINTMENT
A
A power of appointment is an authority granted to a person, enabling that person (the donee of the power) to designate, within the limits prescribed by the creator of the power, the persons who shall take the property and the manner in which they shall take it
2
Q
General vs. Special Power of Appointment
A
A general power of appointment is a power exercisable in favor of anyone including the donee themself, their estate, their creditors, or the creditors of their estate. A special power of appointment is a
power exercisable in favor of a limited class of appointees, which class does not include the donee, their estate, their creditors, or the creditors of their estate.
