A. Notwithstanding provisions in the power of attorney, an agent that hasaccepted appointment shall:
1. Act in accordance with the principal's reasonable expectations to theextent actually known by the agent and, otherwise, in the principal's bestinterest;
2. Act in good faith; and
3. Act only within the scope of authority granted in the power of attorney.
B. Except as otherwise provided in the power of attorney, an agent that hasaccepted appointment shall:
1. Act loyally for the principal's benefit;
2. Act so as not to create a conflict of interest that impairs the agent'sability to act impartially in the principal's best interest;
3. Act with the care, competence, and diligence ordinarily exercised byagents in similar circumstances;
4. Keep a record of all receipts, disbursements, and transactions made onbehalf of the principal;
5. Cooperate with a person that has authority to make health care decisionsfor the principal to carry out the principal's reasonable expectations to theextent actually known by the agent and otherwise act in the principal's bestinterest; and
6. Attempt to preserve the principal's estate plan, to the extent actuallyknown by the agent, if preserving the plan is consistent with the principal'sbest interest based on all relevant factors, including:
a. The value and nature of the principal's property;
b. The principal's foreseeable obligations and need for maintenance;
c. Minimization of taxes, including income, estate, inheritance,generation-skipping transfer, and gift taxes; and
d. Eligibility for a benefit, a program, or assistance under a statute orregulation.
C. An agent that acts in good faith is not liable to any beneficiary of theprincipal's estate plan for failure to preserve the plan.
D. An agent that acts with care, competence, and diligence for the bestinterest of the principal is not liable solely because the agent alsobenefits from the act or has an individual or conflicting interest inrelation to the property or affairs of the principal.
E. If an agent is selected by the principal because of special skills orexpertise possessed by the agent or in reliance on the agent's representationthat the agent has special skills or expertise, the special skills orexpertise shall be considered in determining whether the agent has acted withcare, competence, and diligence under the circumstances.
F. Absent a breach of duty to the principal, an agent is not liable if thevalue of the principal's property declines.
G. An agent that exercises authority to delegate to another person theauthority granted by the principal or that engages another person on behalfof the principal is not liable for an act, error of judgment, or default ofthat person if the agent exercises care, competence, and diligence inselecting and monitoring the person; however, nothing herein is intended toabrogate any duty of the agent under the Uniform Prudent Investor Act (§26-45.3 et seq.).
H. Except as otherwise provided in the power of attorney, an agent shalldisclose receipts, disbursements, or transactions conducted on behalf of theprincipal if requested by the principal, a guardian, a conservator, anotherfiduciary acting for the principal, or, upon the death of the principal, bythe personal representative or successor in interest of the principal'sestate. If so requested, within 30 days the agent shall comply with therequest or provide a writing or other record substantiating why additionaltime is needed and shall comply with the request within an additional 30 days.
I. Except as otherwise provided in the power of attorney, an agent shall, onreasonable request made by a person listed in subdivisions A 3 through A 9 of§ 26-87 who has a good faith belief that the principal suffers an incapacityor, if deceased, suffered incapacity at the time the agent acted, disclose tosuch person the extent to which he has chosen to act and the actions taken onbehalf of the principal within the five years prior to either (i) the date ofthe request or (ii) the date of the death of the principal, if the principalis deceased at the time such request is made, and shall permit reasonableinspection of records pertaining to such actions by such person. In all caseswhere the principal is deceased at the time such request is made, suchrequest shall be made within one year after the date of the death of theprincipal. If so requested, within 30 days the agent shall comply with therequest or provide a writing or other record substantiating why additionaltime is needed and shall comply with the request within an additional 30 days.
A. Notwithstanding provisions in the power of attorney, an agent that hasaccepted appointment shall:
1. Act in accordance with the principal's reasonable expectations to theextent actually known by the agent and, otherwise, in the principal's bestinterest;
2. Act in good faith; and
3. Act only within the scope of authority granted in the power of attorney.
B. Except as otherwise provided in the power of attorney, an agent that hasaccepted appointment shall:
1. Act loyally for the principal's benefit;
2. Act so as not to create a conflict of interest that impairs the agent'sability to act impartially in the principal's best interest;
3. Act with the care, competence, and diligence ordinarily exercised byagents in similar circumstances;
4. Keep a record of all receipts, disbursements, and transactions made onbehalf of the principal;
5. Cooperate with a person that has authority to make health care decisionsfor the principal to carry out the principal's reasonable expectations to theextent actually known by the agent and otherwise act in the principal's bestinterest; and
6. Attempt to preserve the principal's estate plan, to the extent actuallyknown by the agent, if preserving the plan is consistent with the principal'sbest interest based on all relevant factors, including:
a. The value and nature of the principal's property;
b. The principal's foreseeable obligations and need for maintenance;
c. Minimization of taxes, including income, estate, inheritance,generation-skipping transfer, and gift taxes; and
d. Eligibility for a benefit, a program, or assistance under a statute orregulation.
C. An agent that acts in good faith is not liable to any beneficiary of theprincipal's estate plan for failure to preserve the plan.
D. An agent that acts with care, competence, and diligence for the bestinterest of the principal is not liable solely because the agent alsobenefits from the act or has an individual or conflicting interest inrelation to the property or affairs of the principal.
E. If an agent is selected by the principal because of special skills orexpertise possessed by the agent or in reliance on the agent's representationthat the agent has special skills or expertise, the special skills orexpertise shall be considered in determining whether the agent has acted withcare, competence, and diligence under the circumstances.
F. Absent a breach of duty to the principal, an agent is not liable if thevalue of the principal's property declines.
G. An agent that exercises authority to delegate to another person theauthority granted by the principal or that engages another person on behalfof the principal is not liable for an act, error of judgment, or default ofthat person if the agent exercises care, competence, and diligence inselecting and monitoring the person; however, nothing herein is intended toabrogate any duty of the agent under the Uniform Prudent Investor Act (§26-45.3 et seq.).
H. Except as otherwise provided in the power of attorney, an agent shalldisclose receipts, disbursements, or transactions conducted on behalf of theprincipal if requested by the principal, a guardian, a conservator, anotherfiduciary acting for the principal, or, upon the death of the principal, bythe personal representative or successor in interest of the principal'sestate. If so requested, within 30 days the agent shall comply with therequest or provide a writing or other record substantiating why additionaltime is needed and shall comply with the request within an additional 30 days.
I. Except as otherwise provided in the power of attorney, an agent shall, onreasonable request made by a person listed in subdivisions A 3 through A 9 of§ 26-87 who has a good faith belief that the principal suffers an incapacityor, if deceased, suffered incapacity at the time the agent acted, disclose tosuch person the extent to which he has chosen to act and the actions taken onbehalf of the principal within the five years prior to either (i) the date ofthe request or (ii) the date of the death of the principal, if the principalis deceased at the time such request is made, and shall permit reasonableinspection of records pertaining to such actions by such person. In all caseswhere the principal is deceased at the time such request is made, suchrequest shall be made within one year after the date of the death of theprincipal. If so requested, within 30 days the agent shall comply with therequest or provide a writing or other record substantiating why additionaltime is needed and shall comply with the request within an additional 30 days.
A. Notwithstanding provisions in the power of attorney, an agent that hasaccepted appointment shall:
1. Act in accordance with the principal's reasonable expectations to theextent actually known by the agent and, otherwise, in the principal's bestinterest;
2. Act in good faith; and
3. Act only within the scope of authority granted in the power of attorney.
B. Except as otherwise provided in the power of attorney, an agent that hasaccepted appointment shall:
1. Act loyally for the principal's benefit;
2. Act so as not to create a conflict of interest that impairs the agent'sability to act impartially in the principal's best interest;
3. Act with the care, competence, and diligence ordinarily exercised byagents in similar circumstances;
4. Keep a record of all receipts, disbursements, and transactions made onbehalf of the principal;
5. Cooperate with a person that has authority to make health care decisionsfor the principal to carry out the principal's reasonable expectations to theextent actually known by the agent and otherwise act in the principal's bestinterest; and
6. Attempt to preserve the principal's estate plan, to the extent actuallyknown by the agent, if preserving the plan is consistent with the principal'sbest interest based on all relevant factors, including:
a. The value and nature of the principal's property;
b. The principal's foreseeable obligations and need for maintenance;
c. Minimization of taxes, including income, estate, inheritance,generation-skipping transfer, and gift taxes; and
d. Eligibility for a benefit, a program, or assistance under a statute orregulation.
C. An agent that acts in good faith is not liable to any beneficiary of theprincipal's estate plan for failure to preserve the plan.
D. An agent that acts with care, competence, and diligence for the bestinterest of the principal is not liable solely because the agent alsobenefits from the act or has an individual or conflicting interest inrelation to the property or affairs of the principal.
E. If an agent is selected by the principal because of special skills orexpertise possessed by the agent or in reliance on the agent's representationthat the agent has special skills or expertise, the special skills orexpertise shall be considered in determining whether the agent has acted withcare, competence, and diligence under the circumstances.
F. Absent a breach of duty to the principal, an agent is not liable if thevalue of the principal's property declines.
G. An agent that exercises authority to delegate to another person theauthority granted by the principal or that engages another person on behalfof the principal is not liable for an act, error of judgment, or default ofthat person if the agent exercises care, competence, and diligence inselecting and monitoring the person; however, nothing herein is intended toabrogate any duty of the agent under the Uniform Prudent Investor Act (§26-45.3 et seq.).
H. Except as otherwise provided in the power of attorney, an agent shalldisclose receipts, disbursements, or transactions conducted on behalf of theprincipal if requested by the principal, a guardian, a conservator, anotherfiduciary acting for the principal, or, upon the death of the principal, bythe personal representative or successor in interest of the principal'sestate. If so requested, within 30 days the agent shall comply with therequest or provide a writing or other record substantiating why additionaltime is needed and shall comply with the request within an additional 30 days.
I. Except as otherwise provided in the power of attorney, an agent shall, onreasonable request made by a person listed in subdivisions A 3 through A 9 of§ 26-87 who has a good faith belief that the principal suffers an incapacityor, if deceased, suffered incapacity at the time the agent acted, disclose tosuch person the extent to which he has chosen to act and the actions taken onbehalf of the principal within the five years prior to either (i) the date ofthe request or (ii) the date of the death of the principal, if the principalis deceased at the time such request is made, and shall permit reasonableinspection of records pertaining to such actions by such person. In all caseswhere the principal is deceased at the time such request is made, suchrequest shall be made within one year after the date of the death of theprincipal. If so requested, within 30 days the agent shall comply with therequest or provide a writing or other record substantiating why additionaltime is needed and shall comply with the request within an additional 30 days.
