In a statutory power of attorney the language granting power with respect to estate, trust, and other beneficiary transactions empowers the agent to act for the principal in all matters that affect a trust, probate estate, guardianship, conservatorship, escrow, custodianship, or other fund from which the principal is, may become, or claims to be entitled, as a beneficiary, to a share or payment, including to:
(1) Accept, reject, disclaim, receive, receipt for, sell, assign, release, pledge, exchange, or consent to a reduction in or modification of a share in or payment from the fund;
(2) Demand or obtain by litigation or otherwise money or other thing of value to which the principal is, may become, or claims to be entitled by reason of the fund;
(3) Initiate, participate in, and oppose litigation to ascertain the meaning, validity, or effect of a deed, will, declaration of trust, or other instrument or transaction affecting the interest of the principal;
(4) Initiate, participate in, and oppose litigation to remove, substitute, or surcharge a fiduciary;
(5) Conserve, invest, disburse, and use anything received for an authorized purpose; and
(6) Transfer an interest of the principal in stocks, bonds, accounts with financial institutions, insurance, and other property, to the trustee of a revocable trust created by the principal as settlor.
CREDIT(S)
(Sept. 18, 1998, D.C. Law 12-147, § 2, 45 DCR 3853.)
HISTORICAL AND STATUTORY NOTES
Prior Codifications
1981 Ed., § 21-2111.
Legislative History of Laws
For legislative history of D.C. Law 12-147, see Historical and Statutory Notes following § 21-2101.
Uniform Law
This section is based upon § 11 of the Uniform Statutory Form Power of Attorney Act. See 8B Uniform Laws Annotated, Master Edition, or ULA Database on WESTLAW.