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Simple English definitions for legal terms
object of the power of appointment
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A quick definition of object of the power of appointment:
Object of the Power of Appointment: This refers to a person who can receive property that is assigned through a power of appointment. This person is also known as a permissible appointee. An appointee is someone who is appointed or chosen for a particular role or benefit. In legal terms, a power of appointment is the authority given to someone to assign property to another person. The object of the power of appointment is the person who can legally receive this property.
A more thorough explanation:
The object of the power of appointment is the person who can receive property that is assigned under a power of appointment. This person is also known as the permissible appointee.
For example, if a person has a power of appointment over a trust, they can choose to assign the trust property to a specific individual as long as that individual is a permissible appointee. This means that the person must be someone who is allowed to receive the property according to the terms of the trust.
Another example is if a person has a power of appointment over a will. They can choose to assign certain assets to a specific individual as long as that individual is a permissible appointee. This means that the person must be someone who is allowed to receive the assets according to the terms of the will.
Overall, the object of the power of appointment is the person who can receive property that is assigned under a power of appointment, as long as they meet the requirements set forth in the trust or will.