Section 1-351o. – General authority with respect to taxes.
Unless the power of attorney otherwise provides, language in a power of attorney granting general authority with respect to taxes authorizes the agent to: (1) Prepare, sign and file federal, state, local and foreign income, gift, payroll, property, federal Insurance Contributions Act and other tax returns, claims for refunds, requests for extension of time, petitions […]
Section 1-350g. – Nomination of conservator in power of attorney.
(a) In a power of attorney, a principal may nominate a conservator of the principal's estate or conservator of the principal's person for consideration by the court if protective proceedings for the principal's estate or person are begun after the principal executes the power of attorney. The court shall make its appointment in accordance with […]
Section 1-351. – Authority that requires specific grant. Grant of general authority.
(a) An agent under a power of attorney may perform the activities listed in this subsection on behalf of the principal or with the principal's property only if the power of attorney expressly grants the agent the authority to perform such activities and exercise of the authority to perform such activities is not otherwise prohibited […]
Section 1-350h. – When power of attorney effective.
(a) A power of attorney is effective when executed unless the principal provides in the power of attorney that it becomes effective at a future date or upon the occurrence of a future event or contingency. (b) If a power of attorney becomes effective upon the occurrence of a future event or contingency, the principal, […]
Section 1-351a. – Incorporation of authority.
(a) An agent has authority described in sections 1-351 to 1-351p, inclusive, if the power of attorney refers to general authority with respect to the descriptive term for the subjects stated in sections 1-351c to 1-351p, inclusive, or cites the section in which the authority is described. (b) A reference in a power of attorney […]
Section 1-350i. – Termination of power of attorney or agent's authority.
(a) A power of attorney terminates when: (1) The principal dies; (2) The principal becomes incapacitated, if the power of attorney is not durable; (3) The principal revokes the power of attorney; (4) The power of attorney provides that it terminates; (5) The purpose of the power of attorney is accomplished; (6) The principal revokes […]
Section 1-350j. – Coagents and successor agents.
(a) A principal may designate two or more persons to act as coagents. Unless the power of attorney otherwise provides by use of the word “severally” in the power of attorney that each agent acting alone is able to exercise the power conferred, each coagent shall exercise its authority jointly. A person that in good […]
Section 1-350k. – Reimbursement and compensation of agent.
Unless the power of attorney otherwise provides, an agent is entitled to reimbursement of expenses reasonably incurred on behalf of the principal and to compensation that is reasonable under the circumstances. (P.A. 15-240, S. 12; P.A. 16-40, S. 9.) History: P.A. 15-240 effective July 1, 2016; P.A. 16-40 changed effective date of P.A. 15-240, S. […]
Section 1-350l. – Agent's acceptance.
Once a power of attorney is delivered, unless the power of attorney otherwise provides, a person accepts appointment as an agent under a power of attorney by exercising authority or performing duties as an agent or by any other assertion or conduct indicating acceptance. (P.A. 15-240, S. 13; P.A. 16-40, S. 9.) History: P.A. 15-240 […]
Section 1-350m. – Agent's duties.
(a) Notwithstanding provisions in the power of attorney, an agent that has accepted appointment shall: (1) Act in accordance with the principal's reasonable expectations, and, if such expectations are unknown, make reasonable efforts to ascertain the principal's expectations and act, otherwise, in the principal's best interest; (2) Act in good faith; and (3) Act only […]