Legal definition of general power of appointment
Wills & Probate Legal Terminology

general power of appointment

1
“General power of appointment” means a power of appointment exercisable in favor of the holder of the power, the power holder’s creditors, the power holder’s estate, or the creditors of the power holder’s estate. (PART I, Sec. 736.0103)
Source: FLorida Probate Code. website
2
A power of appointment is a term most frequently used in the law of wills to describe the ability of the testator (the person writing the will) to select a person who will be given the authority to dispose of certain property under the will. Although any person can exercise this power at any time during their life, its use is rare outside of a will.
The power is divided into two broad categories: general powers of appointment and special powers of appointment.
A general power of appointment is defined for federal estate tax purposes in the Internal Revenue Code §2041. A general power of appointment is one which allows the holder of the power to appoint to himself, his estate, his creditors, or the creditors of his or her estate the right to have the beneficial use and enjoyment of certain property covered by the power of appointment.
Source: Wikipedia - The Free Encyclopedia. website. license
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