A Long Beach CA Estate Planning Attorney Can Let You Know Rules Of Making A Power Of Appointment
Published on May 23
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"In California, powers of appointment are governed by common law rules except to the extent modified by statutory rules explains the Los Angeles Estate Planning Attorney."
23rd May 2016 - In California, powers of appointment are governed by common law rules except to the extent modified by statutory rules explains the Los Angeles Estate Planning Attorney. However, many important definitions are now statutory and certain case law may no longer be authoritative cautions the Long Beach CA Estate Planning Attorney.
Following is a summary of California statutory rules on powers of appointment, which applies to both special and general powers of appointment states a Los Angeles CA Estate Planning Attorney:
The "donor" is the person who creates or reserves a power of appointment and the "donee" is the person to whom a power of appointment is given or in whose favor a power is reserved explains the Long Beach CA Estate Planning Attorney.
The "appointee" is the person in whose favor a power of appointment is exercised.
A "permissible appointee" is a person in whose favor a power of appointment may be exercised says the Los Angeles CA Estate Planning Attorney.
"Appointive property" is either the property or the interest in the property that is the subject of the power of appointment explains the Long Beach CA Estate Planning Attorney. These terms need to be understood if you will be creating a Power of Appointment clarifies the Los Angeles CA Estate Planning Attorney
About the Company:
Law Offices of Brian D. Lerner, APC have years of experience in protecting the families by helping them to prepare living trusts, last will and testaments, durable power of attorney, health care directives & other matters related to estate planning in California. Located in Long Beach, their firm can prepare complete estate planning package for married couples, single people and divorced spouses.
Law Offices of Brian D. Lerner, APC
3233 E. Broadway
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