US Laws, Codes, Statutes & Cases

45-5-611. Construction of power relating to estate, trust and other beneficiary transactions.

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 the power 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;   

(6)     transfer an interest of the principal in real property, stocks, bonds, accounts with financial institutions, insurance and other property, to the trustee of a revocable trust created by the principal as settlor; and   

(7)     transfer property or income to an irrevocable trust established by the attorney-in-fact or others for the benefit of the principal as permitted by law for the purpose of qualifying the principal for governmental assistance.