Power Of Appointment

What Does Power Of Appointment Mean?

Power of appointment is the authority to determine who will inherit an asset that is part of an estate. This responsibility is granted through the original asset owner’s will.

Insuranceopedia Explains Power Of Appointment

When a testator writes a will and appoints someone to decide who will inherit the assets, they are granting that person the power of appointment. The testator may also choose to name the beneficiary themselves, thereby directly deciding who will receive the assets.