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Simple English definitions for legal terms

power of appointment

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A quick definition of power of appointment:

Power of appointment: A power given to someone to decide who gets a person's property after they die. The person who gives the power can choose to give the person complete control over who gets the property or limit their choices. If the person with the power doesn't use it, the property goes to the default beneficiaries.

A more thorough explanation:

Power of appointment is a legal term that refers to the authority given to a person to decide who will inherit a property left by someone who has passed away. This authority is given by the person who owns the property, known as the donor, to another person, known as the donee. The donee can then choose the beneficiaries of the trust or will.

For example, if a wealthy person creates a trust and gives their child the power of appointment, the child can decide who will inherit the assets in the trust when the parent passes away. The child can either give the assets to one person or divide them among several beneficiaries.

There are two types of power of appointment: general and special. A general power of appointment gives the donee full discretion to choose the beneficiaries of the trust or will. A special power of appointment, on the other hand, limits the list of potential beneficiaries.

If the donee chooses not to exercise their power of appointment, the property will be distributed to the takers in default. This means that the property will be distributed according to the terms of the trust or will, or according to the laws of the state if there is no trust or will.

power of acceptance | Power of attorney

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18:18
you cooked
dasfi0990ut1
18:22
She Paris on my Hilton
fedclerkhopeful
18:31
@sadpadresfan: are you still set on Cornell?
dasfi0990ut1
18:32
@fedclerkhopeful: did u get that uCHI A?
dasfi0990ut1
18:32
miss ya, worried about u (llama)
fedclerkhopeful
18:33
nope I got the WL
dasfi0990ut1
18:33
fk this cycle.
fedclerkhopeful
18:33
still prolly set on reapplying unless SLS comes in clutch
dasfi0990ut1
18:34
Good on you! LS will always be there. I hope either way it works out- IK it will! Keep ya head up!
fedclerkhopeful
18:34
thank you :)
18:35
is the 50~70% conversion rate for Cornell ii accurate?
dasfi0990ut1
18:35
:)
fedclerkhopeful
18:35
yep
[] ararara
18:36
@fedclerkhopeful: what are your goals?
[] ararara
18:38
You remind me of a friend of mine from back in the day. They came in at the top of their class at a T14 but reapplied before doing this to get HYS. They still didn't get it the second time with perfect stats. That stuff is competitive and what does it matter anyway? Just saying!
18:42
Sometimes I’m like yeah i could work for five years and get into Harvard but that’s sooo much work
18:42
No thank you!
dasfi0990ut1
18:43
@dubiously: same. in 5 years ill either be in prison for fraud or retired in the caymen islands
18:43
This white boy don’t miss u would swear u saw Luka
fedclerkhopeful
19:10
@ararara: appellate clerkship and then civil liberties law
fedclerkhopeful
19:11
And yes, I have near perfect stats and would regret going to a lower tier school when reapplying is a viable option
omelette
19:12
lower tier and its mfing cornell
[] ararara
19:27
Haha didn't realize you were admitted at Cornell not why I'm saying this haha. I've also seen a few people get H and one person get Y the second time around. Hopefully things just work out now but if it doesn't go your way the second time don't worry ✌️ you 🫵 are amazing! For the record though my housemate's friend who graduated from Cornell has an appellate clerkship.
[] ararara
19:28
@dubiously: 💀😵👻
when do we think FSU and UF will have all decisions out
19:37
I know a guy who got an appellate clerkship out of a regional t100. He’s old now but still
dasfi0990ut1
19:43
@dubiously: was it Kansas by chance?
19:44
Of course. Kansas is an appellate clerkship powerhouse
dasfi0990ut1
19:45
KS to the T14 by 2028!
[] ararara
19:47
@FumblingRightfulLemur: I would look back at last cycle ✌️❤️ but also actually wouldn't even pay attention that's usually when it happens haha
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