§ 5601.4. Authority that requires specific and general grant of authority.
(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:
(1) Create, amend, revoke or terminate an inter vivos trust other than as permitted under section 5602(a)(2), (3) and (7) (relating to form of power of attorney).
(2) Make a gift.
(3) Create or change rights of survivorship.
(4) Create or change a beneficiary designation.
(5) Delegate authority granted under the power of attorney.
(6) Waive the principal's right to be a beneficiary of a joint and survivor annuity, including a survivor benefit under a retirement plan.
(7) Exercise fiduciary powers that the principal has authority to delegate.
(8) Disclaim property, including a power of appointment.
(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.
(c) Scope of authority.--Subject to subsections (a), (b), (d) and (e), if a power of attorney grants to an agent authority to do all acts that a principal is authorized to perform, the agent has all of the powers which may be incorporated by reference pursuant to section 5602(a).
(d) Gifts.--Unless the power of attorney otherwise provides, a grant of authority to make a gift is subject to section 5603(a.1) (relating to implementation of power of attorney).
(e) Similar or overlapping subjects.--Subject to subsections (a), (b) and (d), if the subjects over which authority is granted in a power of attorney are similar or overlap, the broadest authority controls.
(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.
(g) Legal effect of agent's actions.--An act performed by an agent pursuant to a power of attorney has the same effect and inures to the benefit of and binds the principal and the principal's successors in interest as if the principal had performed the act.
(July 2, 2014, P.L.855, No.95, eff. Jan. 1, 2015)
2014 Amendment. Act 95 added section 5601.4. See section 9 of Act 95 in the appendix to this title for special provisions relating to application of law.
Cross References. Section 5601.4 is referred to in section 5603 of this title.
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