limited power of appointment
- A specific authority granted to a person that allows them to designate who will receive an asset, but this authority is constrained by certain terms or conditions
- In her will, she assigned her brother a limited power of appointment over her property, with the stipulation that the assets only be given to family members.
- Having a limited power of appointment gives him the flexibility to designate beneficiaries, but only within a specific group outlined in the will.
- The trust granted her a limited power of appointment, so although she can determine who receives the assets, her options are restricted according to the terms of the trust.
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