§ 5601.4. Authority that requires specific and general grant of authority
Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 20 Pa.C.S.A. Decedents, Estates and FiduciariesEffective: January 19, 2021
Effective: January 19, 2021
20 Pa.C.S.A. § 5601.4
§ 5601.4. Authority that requires specific and general grant of authority
<Section 4 of 2020, July 23, P.L. 684, No. 72, effective in 180 days [Jan. 19, 2021], provides that the addition of 20 Pa.C.S. § 5601.4(a)(9) by that Act shall apply to a power of attorney executed on or after Jan. 19, 2021.>
(a) General rule.--An agent under a power of attorney may do the following on behalf of the principal or with the principal's property only if the power of attorney expressly grants the agent the authority and exercise of the authority is not otherwise prohibited by another agreement or instrument to which the authority or property is subject:
“Digital asset.” As defined in section 3902 (relating to definitions).
“Electronic communication.” As defined in section 3902.
(b) Limitation.--Notwithstanding a grant of authority to do an act described in subsection (a), unless the power of attorney otherwise provides, an agent that is not an ancestor, spouse or descendant of the principal may not exercise authority under a power of attorney to create in the agent, or in an individual to whom the agent owes a legal obligation of support, an interest in the principal's property, whether by gift, right of survivorship, beneficiary designation, disclaimer or otherwise.
(3) As used in this subsection, the phrase “a gift for the benefit of a person” includes a gift to a trust, an account under Chapter 53 (relating to Pennsylvania Uniform Transfers to Minors Act) and a tuition savings account or prepaid tuition plan as defined under section 529 of the Internal Revenue Code of 1986 (26 U.S.C. § 529).
(1) Unless the power of attorney otherwise provides, the grant of the power to disclaim any interest in property or a grant of general authority with disclaimers authorizes the agent to release or disclaim any interest in property on behalf of the principal in accordance with Chapter 621 (relating to disclaimers) or section 6103.12 (relating to release of powers and interests and disclaimer of powers), provided that any disclaimer under Chapter 62 shall be in accordance with the provisions of section 6202 (relating to disclaimers by fiduciaries or agents) in the case of a principal who is an incapacitated person at the time of the execution of the disclaimer.
(f) Property.--Authority granted in a power of attorney is exercisable with respect to property that the principal has when the power of attorney is executed or acquires later, whether or not the property is located in this State and whether or not the authority is exercised or the power of attorney is executed in this State.
Credits
2014, July 2, P.L. 855, No. 95, § 3, effective Jan. 1, 2015. Amended 2016, July 8, P.L. 497, No. 79, § 6.1, effective Jan. 1, 2017; 2020, July 23, P.L. 684, No. 72, § 3, effective in 180 days [Jan. 19, 2021].
20 Pa.C.S.A. § 5601.4, PA ST 20 Pa.C.S.A. § 5601.4
Current through Act 10 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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