Powers of Appointment
In the last Moss & Barnett newsletter, we wrote about disclaimers. Some of the questions we received in response to that article led to discussions of a different estate planning technique known as a “power of appointment.”
A person writing a will or trust can give his or her beneficiaries a power of appointment, which enables them to direct where their share of the estate or trust goes at their death. A power of appointment provides flexibility for transferring property to children and grandchildren.