58-656.Duties of attorney in fact; relation ofattorney in fact to court-appointed fiduciary; death of principal.(a) An attorney in fact who elects to act under a power ofattorney is under a duty to act in the interest of the principal and to avoidconflicts of interest that impair the ability of the attorney in fact so toact. A person who is appointed an attorney in fact under a power of attorneywho undertakes to exercise the authority conferred in the power of attorney,has a fiduciary obligation to exercise the powers conferred in the bestinterests of the principal, and to avoid self-dealing and conflicts ofinterest, as in the case of a trustee with respect to the trustee's beneficiaryor beneficiaries. The attorney in fact shall keep a record of receipts,disbursements andtransactions made on behalf of the principaland shall not comingle funds or assets of the principal with thefunds or assets of the attorney in fact.In the absence of explicit authorization, the attorney infact shall exercise a high degree of care in maintaining, without modification,any estate plan which the principal may have in place, including, but notlimited to, arrangements made by the principal for disposition of assets atdeath through beneficiary designations, ownership by joint tenancy or tenancyby the entirety, trust arrangements or by will or codicil. Unless otherwiseprovided in the power of attorney or in a separate agreement between theprincipal and attorney in fact, an attorney in fact who elects to act shallexercise the authority granted in a power of attorney with that degree of carethat would be observed by a prudent person dealing with the property andconducting the affairs of another, except that all investments made on or afterJuly 1, 2003, shall be in accordance with the provisions of the Kansas uniformprudent investor act, K.S.A. 58-24a01 et seq., and amendmentsthereto. If the attorney in fact has special skills or was appointed attorneyin fact on the basis of representations of special skills or expertise, theattorney in fact has a duty to use those skills in the principal's behalf.
(b) On matters undertaken or to be undertaken in the principal's behalf andto theextent reasonably possible under the circumstances, an attorney in fact has aduty to keep in regular contact with the principal, to communicate with theprincipal and to obtain and follow the instructions of the principal.
(c) If, following execution of a durable power of attorney, a court of theprincipal's domicile appoints a conservator, guardian of the estate or otherfiduciary charged with the management of all of the principal's property or allof the principal's property exceptspecified exclusions, the attorney in fact is accountable to the fiduciary aswell as to the principal. The fiduciary has the same power to revoke or amendthe durable power of attorney that the principal would have had if theprincipal were not an adult with an impairment in need of a guardian orconservator or both as defined by subsection (a) of K.S.A. 59-3051, andamendments thereto.
(d) A principal may nominate by a power of attorney,a guardian or conservator, or both, forconsideration by the court. If a petition to appoint a guardian or conservator,or both, is filed, the court shall make the appointment in accordance with theprincipal's most recent nomination in the power of attorney, so long as theindividual nominated is a fit and proper person.
(e) An attorney in fact shall exercise authority granted by the principal inaccordance with the instrument setting forth the power of attorney, anymodification made therein by the principal or the principal's legalrepresentative or a court, and the oral and written instructions of theprincipal, or the written instructions of the principal's legal representativeor a court.
(f) An attorney in fact may be instructed in a power of attorney that theauthority granted shall not be exercised until, or shall terminate on, thehappening of a future event, condition or contingency, as determined in amanner prescribed in the instrument.
(g) On the death of the principal, the attorney in fact shall follow theinstructions of the court, if any, having jurisdiction over the estate of theprincipal, or any part thereof, and shall communicate with and be accountableto the principal's personal representative, or if none, the principal'ssuccessors. The attorney in fact shall promptly deliver to and put in thepossession and control of the principal's personal representative orsuccessors,any property of the principal and copies of any records of the attorney in factrelating to transactions undertaken in the principal's behalf that are deemedby the personal representative or the court to be necessary or helpful in theadministration of the decedent's estate.
(h) If an attorney in fact has a property or contract interest in the subjectof the power of attorney or the authority of the attorney in fact is otherwisecoupled with an interest in a person other than the principal, this sectiondoes not impose any duties on the attorney in fact that would conflict or beinconsistent with that interest.
History: L. 2003, ch. 58, § 7;L. 2009, ch. 73, § 3; July 1.
58-656.Duties of attorney in fact; relation ofattorney in fact to court-appointed fiduciary; death of principal.(a) An attorney in fact who elects to act under a power ofattorney is under a duty to act in the interest of the principal and to avoidconflicts of interest that impair the ability of the attorney in fact so toact. A person who is appointed an attorney in fact under a power of attorneywho undertakes to exercise the authority conferred in the power of attorney,has a fiduciary obligation to exercise the powers conferred in the bestinterests of the principal, and to avoid self-dealing and conflicts ofinterest, as in the case of a trustee with respect to the trustee's beneficiaryor beneficiaries. The attorney in fact shall keep a record of receipts,disbursements andtransactions made on behalf of the principaland shall not comingle funds or assets of the principal with thefunds or assets of the attorney in fact.In the absence of explicit authorization, the attorney infact shall exercise a high degree of care in maintaining, without modification,any estate plan which the principal may have in place, including, but notlimited to, arrangements made by the principal for disposition of assets atdeath through beneficiary designations, ownership by joint tenancy or tenancyby the entirety, trust arrangements or by will or codicil. Unless otherwiseprovided in the power of attorney or in a separate agreement between theprincipal and attorney in fact, an attorney in fact who elects to act shallexercise the authority granted in a power of attorney with that degree of carethat would be observed by a prudent person dealing with the property andconducting the affairs of another, except that all investments made on or afterJuly 1, 2003, shall be in accordance with the provisions of the Kansas uniformprudent investor act, K.S.A. 58-24a01 et seq., and amendmentsthereto. If the attorney in fact has special skills or was appointed attorneyin fact on the basis of representations of special skills or expertise, theattorney in fact has a duty to use those skills in the principal's behalf.
(b) On matters undertaken or to be undertaken in the principal's behalf andto theextent reasonably possible under the circumstances, an attorney in fact has aduty to keep in regular contact with the principal, to communicate with theprincipal and to obtain and follow the instructions of the principal.
(c) If, following execution of a durable power of attorney, a court of theprincipal's domicile appoints a conservator, guardian of the estate or otherfiduciary charged with the management of all of the principal's property or allof the principal's property exceptspecified exclusions, the attorney in fact is accountable to the fiduciary aswell as to the principal. The fiduciary has the same power to revoke or amendthe durable power of attorney that the principal would have had if theprincipal were not an adult with an impairment in need of a guardian orconservator or both as defined by subsection (a) of K.S.A. 59-3051, andamendments thereto.
(d) A principal may nominate by a power of attorney,a guardian or conservator, or both, forconsideration by the court. If a petition to appoint a guardian or conservator,or both, is filed, the court shall make the appointment in accordance with theprincipal's most recent nomination in the power of attorney, so long as theindividual nominated is a fit and proper person.
(e) An attorney in fact shall exercise authority granted by the principal inaccordance with the instrument setting forth the power of attorney, anymodification made therein by the principal or the principal's legalrepresentative or a court, and the oral and written instructions of theprincipal, or the written instructions of the principal's legal representativeor a court.
(f) An attorney in fact may be instructed in a power of attorney that theauthority granted shall not be exercised until, or shall terminate on, thehappening of a future event, condition or contingency, as determined in amanner prescribed in the instrument.
(g) On the death of the principal, the attorney in fact shall follow theinstructions of the court, if any, having jurisdiction over the estate of theprincipal, or any part thereof, and shall communicate with and be accountableto the principal's personal representative, or if none, the principal'ssuccessors. The attorney in fact shall promptly deliver to and put in thepossession and control of the principal's personal representative orsuccessors,any property of the principal and copies of any records of the attorney in factrelating to transactions undertaken in the principal's behalf that are deemedby the personal representative or the court to be necessary or helpful in theadministration of the decedent's estate.
(h) If an attorney in fact has a property or contract interest in the subjectof the power of attorney or the authority of the attorney in fact is otherwisecoupled with an interest in a person other than the principal, this sectiondoes not impose any duties on the attorney in fact that would conflict or beinconsistent with that interest.
History: L. 2003, ch. 58, § 7;L. 2009, ch. 73, § 3; July 1.
58-656.Duties of attorney in fact; relation ofattorney in fact to court-appointed fiduciary; death of principal.(a) An attorney in fact who elects to act under a power ofattorney is under a duty to act in the interest of the principal and to avoidconflicts of interest that impair the ability of the attorney in fact so toact. A person who is appointed an attorney in fact under a power of attorneywho undertakes to exercise the authority conferred in the power of attorney,has a fiduciary obligation to exercise the powers conferred in the bestinterests of the principal, and to avoid self-dealing and conflicts ofinterest, as in the case of a trustee with respect to the trustee's beneficiaryor beneficiaries. The attorney in fact shall keep a record of receipts,disbursements andtransactions made on behalf of the principaland shall not comingle funds or assets of the principal with thefunds or assets of the attorney in fact.In the absence of explicit authorization, the attorney infact shall exercise a high degree of care in maintaining, without modification,any estate plan which the principal may have in place, including, but notlimited to, arrangements made by the principal for disposition of assets atdeath through beneficiary designations, ownership by joint tenancy or tenancyby the entirety, trust arrangements or by will or codicil. Unless otherwiseprovided in the power of attorney or in a separate agreement between theprincipal and attorney in fact, an attorney in fact who elects to act shallexercise the authority granted in a power of attorney with that degree of carethat would be observed by a prudent person dealing with the property andconducting the affairs of another, except that all investments made on or afterJuly 1, 2003, shall be in accordance with the provisions of the Kansas uniformprudent investor act, K.S.A. 58-24a01 et seq., and amendmentsthereto. If the attorney in fact has special skills or was appointed attorneyin fact on the basis of representations of special skills or expertise, theattorney in fact has a duty to use those skills in the principal's behalf.
(b) On matters undertaken or to be undertaken in the principal's behalf andto theextent reasonably possible under the circumstances, an attorney in fact has aduty to keep in regular contact with the principal, to communicate with theprincipal and to obtain and follow the instructions of the principal.
(c) If, following execution of a durable power of attorney, a court of theprincipal's domicile appoints a conservator, guardian of the estate or otherfiduciary charged with the management of all of the principal's property or allof the principal's property exceptspecified exclusions, the attorney in fact is accountable to the fiduciary aswell as to the principal. The fiduciary has the same power to revoke or amendthe durable power of attorney that the principal would have had if theprincipal were not an adult with an impairment in need of a guardian orconservator or both as defined by subsection (a) of K.S.A. 59-3051, andamendments thereto.
(d) A principal may nominate by a power of attorney,a guardian or conservator, or both, forconsideration by the court. If a petition to appoint a guardian or conservator,or both, is filed, the court shall make the appointment in accordance with theprincipal's most recent nomination in the power of attorney, so long as theindividual nominated is a fit and proper person.
(e) An attorney in fact shall exercise authority granted by the principal inaccordance with the instrument setting forth the power of attorney, anymodification made therein by the principal or the principal's legalrepresentative or a court, and the oral and written instructions of theprincipal, or the written instructions of the principal's legal representativeor a court.
(f) An attorney in fact may be instructed in a power of attorney that theauthority granted shall not be exercised until, or shall terminate on, thehappening of a future event, condition or contingency, as determined in amanner prescribed in the instrument.
(g) On the death of the principal, the attorney in fact shall follow theinstructions of the court, if any, having jurisdiction over the estate of theprincipal, or any part thereof, and shall communicate with and be accountableto the principal's personal representative, or if none, the principal'ssuccessors. The attorney in fact shall promptly deliver to and put in thepossession and control of the principal's personal representative orsuccessors,any property of the principal and copies of any records of the attorney in factrelating to transactions undertaken in the principal's behalf that are deemedby the personal representative or the court to be necessary or helpful in theadministration of the decedent's estate.
(h) If an attorney in fact has a property or contract interest in the subjectof the power of attorney or the authority of the attorney in fact is otherwisecoupled with an interest in a person other than the principal, this sectiondoes not impose any duties on the attorney in fact that would conflict or beinconsistent with that interest.
History: L. 2003, ch. 58, § 7;L. 2009, ch. 73, § 3; July 1.
