Power Of Appointment Definition and Legal Meaning

It is the right given by one person(creator of will) to the other (eg. Trust) to distribute, transfer or gift his assets upon his death.The two types of power of appointment are 1) General – Where the holder of the will creators property can distribute his assets to anyone and 2) Specific – where the holder or custodian of the property is designated to transfer or distribute the assets only to the specified class or group of people.