In-kind distribution refers to the distribution of assets or property directly to beneficiaries, rather than converting those assets to cash and distributing the proceeds.
A legatee is an individual or entity that receives property or assets through the terms stipulated in a last will and testament.
Powers of appointment refer to the authority granted to an individual, referred to as the donee or appointee, to designate the distribution of certain property or assets, either held in a trust or as part of an estate. This power can affect estate planning significantly.
Testamentary Powers of Appointment refer to the legal authority granted to an individual through a will to designate who will receive certain property or interests upon their death.
