Limits of a Power of Attorney
Certain powers must be specifically set forth in the power of attorney in order for the attorney-in-fact to have the authority to perform them.
The following powers must be specifically, individually authorized in order for the power of attorney to act:
Creation, modification, revocation or termination of a trust in whole or in part;
Funding with the principal’s property of a trust not created by the principal (or a person authorized to create a trust on the principal’s behalf);
Making or revoking of gifts of the principal’s property in trust or otherwise;
Exercise of the right to reject, disclaim, release or consent to a reduction in, or modification of a share of an estate, trust or other fund on behalf of the principal;
Creation or modification of survivorship interests in the principal’s property or in property in which the principal may have an interest;
Designation or change in the designation of beneficiaries to receive any benefits, property or contract rights upon the death of the principal; and
Making of a loan to the attorney-in-fact.
In no event may the power of attorney authorize an attorney-in-fact to make, publish, declare, amend, or revoke the principal’s will.