Connecticut § 1-351j General authority with respect to estates, trusts and other beneficial interests.

Connecticut Statutes

§ 1-351j — General authority with respect to estates, trusts and other beneficial interests.

Connecticut·Title 1 Provisions of General Application·Ch. 15c Connecticut Uniform Power of Attorney Act and Connecticut Uniform Recognition of Substitute Decision-Making Documents Act

(a)For purposes of this section, “estate, trust or other beneficial interest” means a trust, probate estate, guardianship, conservatorship, escrow or custodianship or a fund from which the principal is, may become or claims to be, entitled to a share or payment.

(b)Unless the power of attorney otherwise provides, language in a power of attorney granting general authority with respect to estates, trusts and other beneficial interests authorizes the agent to:

(1)Accept, receive, receipt for, sell, assign, pledge or exchange a share in or payment from an estate, trust or other beneficial interest;

(2)Demand or obtain money or another thing of value to which the principal is, may become or claims to be, entitled by reason of an estate, trust or other beneficial interest, by litigation or o

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(a) For purposes of this section, “estate, trust or other beneficial interest” means a trust, probate estate, guardianship, conservatorship, escrow or custodianship or a fund from which the principal is, may become or claims to be, entitled to a share or payment. (b) Unless the power of attorney otherwise provides, language in a power of attorney granting general authority with respect to estates, trusts and other beneficial interests authorizes the agent to: (1) Accept, receive, receipt for, sell, assign, pledge or exchange a share in or payment from an estate, trust or other beneficial interest; (2) Demand or obtain money or another thing of value to which the principal is, may become or claims to be, entitled by reason of an estate, trust or other beneficial interest, by litigation or otherwise; (3) Exercise for the benefit of the principal a presently exercisable general power of appointment held by the principal; (4) Initiate, participate in, submit to alternative dispute resolution, settle, oppose, or propose or accept a compromise with respect to 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; (5) Initiate, participate in, submit to alternative dispute resolution, settle, oppose, or propose or accept a compromise with respect to litigation to remove, substitute or surcharge a fiduciary; (6) Conserve, invest, disburse or use anything received for an authorized purpose; and (7) Transfer an interest of the principal in real property, stocks and bonds, accounts with financial institutions or securities intermediaries, insurance, annuities and other property to the trustee of a revocable trust created by the principal as settlor.

Connecticut § 1-351j (General authority with respect to estates, trusts and other beneficial interests.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

(P.A. 15-240, S. 34; 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. 34, from July 1, 2016, to October 1, 2016, effective May 27, 2016.