Presently exercisable power of appointment

{
  "id": "MLC-T-LAW-003870",
  "term": "Presently exercisable power of appointment",
  "field": "Law",
  "definition": "A legal right granted to an individual, known as the donee, to designate the recipients of property immediately, without any conditions or restrictions on its exercise. This power allows the donee to appoint the property to themselves, their creditors, their estate, or the creditors of their estate. It is often treated as equivalent to outright ownership for tax purposes.",
  "url": "https://mlchart.com/terminology/law/presently-exercisable-power-of-appointment/"
}