Wills, Trusts, and Estates
Power of Appointment
A power of appointment is a right to order the transfer of property owned by someone else.
A donor gives power to a donee who can exercise the power to appoint the appointive property to the permissive appointees. When he does so, the person given the property is the appointee.
A residuary clause does not exercise a testamentary power of appointment held by the testator unless the power is general and there is no taker in default of appointment. UPC § 2-608.
- A blanket-exercise clause is a clause in a will specifying that the residuary includes all property over which the testator has a power of appointment.