Power of Appointment
Learn about a useful tool for increasing flexibility in estate planning: the power of appointment, under which someone other than the decedent has the authority to choose who receives the property.
When planning the disposition of an estate, it may be difficult to plan for what may happen in the future. What if a beneficiary dies, becomes incapacitated, or even refuses to take the decedent’s property? One way to increase the flexibility of an estate plan is to allow a person other than the decedent to choose the recipient of the property. Today, you’ll be learning about the power of appointment.
In our discussion today, we’ll start off by answering the question: “What is a power of...