You've probably spent considerable time thinking about your estate plan and what objectives it should achieve.
Unfortunately, after you're gone, unanticipated events can thwart your best laid plans. But a "power of appointment" can provide your estate plan with flexibility and adaptability.
This is an estate plan provision that gives a designated beneficiary some control over some or all of your trust's property. Assuming this person fulfills the duties properly, he or she will have the discretion to change distributions from the trust or even add or subtract beneficiaries. Let's take a look.