In exercising a power, a donee may make an appointment:
(1) of present, future, or present and future interests;
(2) with conditions and limitations;
(3) with restraints on alienation;
(4) of interests to a trustee for the benefit of one or more objects of the power; and
(5) that creates any right existing under common law.
Official text of the Texas Property Code as published by the Texas Legislative Council.