From Law wiki, the wiki for law researchA power of appointment that is conferred on an individual by name, rather than to a trustee, along with a duty to exercise that power. For example, very often a trust will authorize a person free of the trust to dispose of the trust property in his or her will; in such a situation it is expected that the power will be exercised. Potential beneficiaries may attempt to compel the exercise of this power in the courts, a move that would be unusual in the case of a power of appointment, where there is generally no such duty placed on the donee. See also power of appointment, power nominatum.
Trust Law article
Contributors This page was last modified on 24 May 2011, at 17:22.This page has been accessed 1,500 times.
|
||