Joe doesn't want to be worried with issues concerning his estate and rather have someone else make decisions concerning the property. What does Joe need?

Question

Quizplus · Accepted Answer

An individual that does not wish to deal with issues concerning his estate and would rather have someone else make decisions concerning the property needs a power of appointment. The power of appointment is a power to name someone to receive a beneficial interest in property. The grantor of the power is called the donor. The person receiving the poser is called the holder or donee. The parties to whom the holder gives property by exercising the power are called the appointees. The persons who receive the property if the holder permits the power to laps are called the takers in default. A power of appointment is "general" if there are no restrictions on the donee's choice of appointees. If there are restrictions, then the power is termed a limited or special power.

Joe Doesn't Want to Be Worried with Issues Concerning His