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District of Columbia Code Division III. Decedents' Estates and Fiduciary Relations. § 21-2602.01. Authority that requires specific grant; grant of general authority.

Current as of January 01, 2024 | Updated by Findlaw Staff

(a) An agent under a power of attorney may do the following on behalf of the principal, or with the principal's property, only if the power of attorney expressly grants the agent the authority and exercise of the authority is not otherwise prohibited by another agreement or instrument to which the authority or property is subject:

(1) Create, amend, revoke, or terminate an inter vivos trust;

(2) Make a gift;

(3) Create or change rights of survivorship;

(4) Create or change a beneficiary designation;

(5) Delegate authority granted under the power of attorney;

(6) Waive the principal's right to be a beneficiary of a joint and survivor annuity, including a survivor benefit under a retirement plan;

(7) Exercise fiduciary powers that the principal has authority to delegate; or

(8) Disclaim property, including a power of appointment.

(b) Notwithstanding subsection (a) of this section, unless the power of attorney otherwise provides, an agent that is not an ancestor, spouse, or descendant of the principal, shall not exercise authority under a power of attorney to create in the agent, or in an individual to whom the agent owes a legal obligation of support, an interest in the principal's property, whether by gift, right of survivorship, beneficiary designation, disclaimer, or otherwise.

(c) Subject to subsections (a), (b), (d), and (e) of this section, if a power of attorney grants to an agent authority to do all acts that a principal could do, the agent has the general authority described in §§ 21-2602.04 through 21-2602.16.

(d) Unless the power of attorney otherwise provides, a grant of authority to make a gift is subject to § 21-2601.17.

(e) Subject to subsections (a), (b), and (d) of this section, if the subject matters over which authority is granted in a power of attorney are similar or overlap, the broadest authority controls.

(f) Authority granted in a power of attorney is exercisable with respect to property that the principal has when the power of attorney is executed or acquires later, whether or not the property is located in the District and whether or not the authority is exercised or the power of attorney is executed in the District.

(g) An act performed by an agent pursuant to a power of attorney has the same effect and inures to the benefit of and binds the principal and the principal's successors in interest as if the principal had performed the act.

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Cite this article: FindLaw.com - District of Columbia Code Division III. Decedents' Estates and Fiduciary Relations. § 21-2602.01. Authority that requires specific grant; grant of general authority. - last updated January 01, 2024 | https://codes.findlaw.com/dc/division-iii-decedents-estates-and-fiduciary-relations/dc-code-sect-21-2602-01/

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