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Subchapter 001: GENERAL PROVISIONS
§ 4001. Short title
This chapter may be cited as the Vermont Uniform Power of Attorney Act. (Added 2023, No. 60, § 1, eff. July 1, 2023.)
§ 4002. Definitions
As used in this chapter:
(1) “Agent” means a person granted authority to act for a principal under a power of attorney,
whether denominated an agent, attorney-in-fact, or otherwise. The term includes an
original agent, coagent, successor agent, and a person to which an agent’s authority
is delegated.
(2) “Durable,” with respect to a power of attorney, means not terminated by the principal’s
incapacity or unavailability.
(3) “Electronic” means relating to technology having electrical, digital, magnetic, wireless,
optical, electromagnetic, or similar capabilities.
(4) “Electronic signature” means an electronic sound, symbol, or process attached to or
logically associated with a record and executed or adopted by a person with the intent
to sign the record.
(5) “General power of attorney” means a power of attorney that is not limited by its terms
to a specified transaction or series of transactions, to a specific purpose, or to
a specific asset or set of assets, or a power of attorney that grants an agent the
authority to do any one or more of the acts described in subsection 4031(e) of this title.
(6) “Good faith” means honesty in fact.
(7)(A) “Incapacity” means the inability of an individual to manage property or business affairs
because the individual has an impairment in the ability to receive and evaluate information
or make or communicate decisions even with the use of technological assistance.
(B) “Unavailability” means the inability of an individual to manage property or business
affairs because the individual is:
(i) missing;
(ii) detained, including incarcerated in a penal system; or
(iii) outside the United States and unable to return.
(8) “Person” means an individual; corporation; business trust; estate; trust; partnership;
limited liability company; association; joint venture; public corporation; government
or governmental subdivision, agency, or instrumentality; or any other legal or commercial
entity.
(9) “Power of attorney” means a writing or other record that grants authority to an agent
to act in the place of the principal, whether or not the term power of attorney is
used.
(10) “Presently exercisable general power of appointment,” with respect to property or
a property interest subject to a power of appointment, means power exercisable at
the time in question to vest absolute ownership in the principal individually, the
principal’s estate, the principal’s creditors, or the creditors of the principal’s
estate. The term includes a power of appointment not exercisable until the occurrence
of a specified event, the satisfaction of an ascertainable standard, or the passage
of a specified period only after the occurrence of the specified event, the satisfaction
of the ascertainable standard, or the passage of the specified period. The term does
not include a power exercisable in a fiduciary capacity or only by will.
(11) “Principal” means an individual who grants authority to an agent in a power of attorney.
(12) “Property” means anything that may be the subject of ownership, whether real or personal,
or legal or equitable, or any interest or right therein.
(13) “Record” means information that is inscribed on a tangible medium or that is stored
in an electronic or other medium and is retrievable in perceivable form.
(14) “Sign” means, with present intent to authenticate or adopt a record:
(A) to execute or adopt a tangible symbol; or
(B) to attach to or logically associate with the record an electronic sound, symbol, or
process.
(15) “State” means a state of the United States, the District of Columbia, Puerto Rico,
the U.S. Virgin Islands, or any territory or insular possession subject to the jurisdiction
of the United States.
(16) “Stocks and bonds” means stocks, bonds, mutual funds, and all other types of securities
and financial instruments, whether held directly, indirectly, or in any other manner.
The term does not include commodity futures contracts and call or put options on stocks
or stock indexes. (Added 2023, No. 60, § 1, eff. July 1, 2023.)
§ 4003. Applicability
This chapter applies to all powers of attorney except:
(1) a power to the extent it is coupled with an interest in the subject of the power,
including a power given to or for the benefit of a creditor in connection with a credit
transaction;
(2) a power to make health-care decisions;
(3) a proxy or other delegation to exercise voting rights or management rights with respect
to an entity;
(4) a power created on a form prescribed by a government or governmental subdivision,
agency, or instrumentality for a governmental purpose; and
(5) a power of reciprocal insurers under 8 V.S.A. § 4838. (Added 2023, No. 60, § 1, eff. July 1, 2023.)
§ 4004. Power of attorney is durable
A power of attorney created under this chapter is durable unless it expressly provides
that it is terminated by the incapacity or unavailability of the principal. (Added 2023, No. 60, § 1, eff. July 1, 2023.)
§ 4005. Execution of power of attorney
A power of attorney shall be signed by the principal or in the principal’s conscious
presence by another individual directed by the principal to sign the principal’s name
on the power of attorney. A signature on a power of attorney is presumed to be genuine
if the principal acknowledges the signature before a notary public or other individual
authorized by law to take acknowledgments. (Added 2023, No. 60, § 1, eff. July 1, 2023.)
§ 4006. Validity of power of attorney
(a) A power of attorney executed in this State on or after July 1, 2023 is valid if its
execution complies with section 4005 of this title.
(b) A power of attorney executed in this State before July 1, 2023 is valid if its execution
complied with the law of this State as it existed at the time of execution.
(c) A power of attorney executed other than in this State is valid in this State if, when
the power of attorney was executed, the execution complied with:
(1) the law of the jurisdiction that determines the meaning and effect of the power of
attorney pursuant to section 4007 of this title; or
(2) the requirements for a military power of attorney pursuant to 10 U.S.C. § 1044b, as amended.
(d) Except as otherwise provided by statute other than this chapter, a photocopy or electronically
transmitted copy of an original power of attorney has the same effect as the original.
(e) Except as otherwise provided by statute other than this chapter, a power of attorney
that complies with this chapter is valid. (Added 2023, No. 60, § 1, eff. July 1, 2023.)
§ 4007. Meaning and effect of power of attorney
The meaning and effect of a power of attorney is determined by the law of the jurisdiction
indicated in the power of attorney and, in the absence of an indication of jurisdiction,
by the law of the jurisdiction in which the power of attorney was executed. (Added 2023, No. 60, § 1, eff. July 1, 2023.)
§ 4008. Nomination of guardian; relation of agent to court-appointed fiduciary
(a) In a power of attorney, a principal may nominate a guardian of the principal’s estate
or a guardian of the principal’s person for consideration by the court if protective
proceedings for the principal’s estate or person are begun after the principal executes
the power of attorney. Except for good cause shown or disqualification, the court
shall make its appointment in accordance with the principal’s most recent nomination.
(b) If, after a principal executes a power of attorney, a court appoints a guardian of
the principal’s estate or other fiduciary charged with the management of some or all
of the principal’s property, the agent is accountable to the fiduciary as well as
to the principal. The power of attorney is not terminated, and the agent’s authority
continues unless limited, suspended, or terminated by the court. (Added 2023, No. 60, § 1, eff. July 1, 2023.)
§ 4009. When power of attorney effective
(a) A power of attorney is effective when executed unless the principal provides in the
power of attorney that it becomes effective at a future date or upon the occurrence
of a future event or contingency.
(b) If a power of attorney becomes effective upon the occurrence of a future event or
contingency, the principal, in the power of attorney, may authorize one or more persons
to determine in a writing or other record that the event or contingency has occurred.
(c) If a power of attorney becomes effective upon the principal’s incapacity or unavailability
and the principal has not authorized a person to determine whether the principal is
incapacitated or unavailable, or the person authorized is unable or unwilling to make
the determination, the power of attorney becomes effective upon a determination in
a writing or other record by:
(1) a licensed health care professional working within the professional’s scope of practice,
including a physician licensed pursuant to 26 V.S.A. chapter 23 or 33 and a psychologist
licensed pursuant to 26 V.S.A. chapter 55, that the principal is incapacitated within
the meaning of subdivision 4002(7)(A) of this chapter; or
(2) an attorney at law, a judge, or an appropriate governmental official that the principal
is unavailable within the meaning of 4002(7)(B) of this chapter.
(d) A person authorized by the principal in the power of attorney to determine that the
principal is incapacitated or unavailable may act as the principal’s personal representative
pursuant to the Health Insurance Portability and Accountability Act; Sections 1171
through 1179 of the Social Security Act; 42 U.S.C. § 1320d, as amended; and applicable regulations to obtain access to the principal’s health-care
information and communicate with the principal’s health-care provider. (Added 2023, No. 60, § 1, eff. July 1, 2023.)
§ 4010. Termination of power of attorney or agent’s authority
(a) A power of attorney terminates when:
(1) the principal dies;
(2) the principal becomes incapacitated or unavailable, if the power of attorney is not
durable;
(3) the principal revokes the power of attorney;
(4) the power of attorney provides that it terminates;
(5) the purpose of the power of attorney is accomplished; or
(6) the principal revokes the agent’s authority or the agent dies, becomes incapacitated
or unavailable, or resigns, and the power of attorney does not provide for another
agent to act under the power of attorney.
(b) An agent’s authority terminates when:
(1) the principal revokes the authority;
(2) the agent dies, becomes incapacitated or unavailable, or resigns;
(3) a petition for divorce, annulment, separation, or a decree of nullity is filed with
respect to the agent’s marriage to the principal, unless the power of attorney otherwise
provides; or
(4) the power of attorney terminates.
(c) Unless the power of attorney otherwise provides, an agent’s authority is exercisable
until the authority terminates under subsection (b) of this section, notwithstanding
a lapse of time since the execution of the power of attorney.
(d) Termination of an agent’s authority or of a power of attorney is not effective as
to the agent or another person that, without actual knowledge of the termination,
acts in good faith under the power of attorney. An act so performed, unless otherwise
invalid or unenforceable, binds the principal and the principal’s successors in interest.
(e) Incapacity or unavailability of the principal of a power of attorney that is not durable
does not revoke or terminate the power of attorney as to an agent or other person
that, without actual knowledge of the incapacity or unavailability, acts in good faith
under the power of attorney. An act so performed, unless otherwise invalid or unenforceable,
binds the principal and the principal’s successors in interest.
(f) The execution of a power of attorney does not revoke a power of attorney previously
executed by the principal unless the subsequent power of attorney provides that the
previous power of attorney is revoked or that all other powers of attorney are revoked.
(g) The principal of a power of attorney may not revoke the power of attorney if the principal
has been determined to be incapacitated. (Added 2023, No. 60, § 1, eff. July 1, 2023.)
§ 4011. Co-agents and successor agents
(a) A principal may designate two or more persons to act as co-agents. Unless the power
of attorney otherwise provides, each co-agent may exercise its authority independently.
(b) A principal may designate one or more successor agents to act if an agent resigns,
dies, becomes incapacitated or unavailable, is not qualified to serve, or declines
to serve. A principal may grant authority to designate one or more successor agents
to an agent or other person designated by name, office, or function. Unless the power
of attorney otherwise provides, a successor agent:
(1) has the same authority as that granted to the original agent; and
(2) may not act until all predecessor agents have resigned, died, become incapacitated
or unavailable, are no longer qualified to serve, or have declined to serve.
(c) Except as otherwise provided in the power of attorney and subsection (d) of this section,
an agent who does not participate in or conceal a breach of fiduciary duty committed
by another agent, including a predecessor agent, is not liable for the actions of
the other agent.
(d) An agent who has actual knowledge of a breach or imminent breach of fiduciary duty
by another agent shall notify the principal and, if the principal is incapacitated
or unavailable, take any action reasonably appropriate in the circumstances to safeguard
the principal’s best interests. An agent who fails to notify the principal or take
action as required by this subsection is liable for the reasonably foreseeable damages
that could have been avoided if the agent had notified the principal or taken such
action. (Added 2023, No. 60, § 1, eff. July 1, 2023.)
§ 4012. Reimbursement and compensation of agent
Unless the power of attorney otherwise provides, an agent is entitled to reimbursement
of expenses reasonably incurred on behalf of the principal and to compensation that
is reasonable under the circumstances. (Added 2023, No. 60, § 1, eff. July 1, 2023.)
§ 4013. Agent’s acceptance
Except as otherwise provided in the power of attorney, a person accepts appointment
as an agent under a power of attorney by exercising authority or performing duties
as an agent or by any other assertion or conduct indicating acceptance. (Added 2023, No. 60, § 1, eff. July 1, 2023.)
§ 4014. Agent’s duties
(a) Notwithstanding provisions in the power of attorney, an agent who has accepted appointment
shall:
(1) act in accordance with the principal’s reasonable expectations to the extent actually
known by the agent and otherwise in the principal’s best interests;
(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 or other provision of this chapter,
an agent that has accepted appointment shall have no further obligation to act under
the power of attorney. However, with respect to any action taken by the agent under
the power of attorney, the agent shall:
(1) act loyally for the principal’s benefit;
(2) act so as not to create a conflict of interest that impairs the agent’s ability to
act impartially in the principal’s best interests;
(3) act with the care, competence, and diligence ordinarily exercised by agents in similar
circumstances;
(4) keep a record of all receipts, disbursements, and transactions made on behalf of the
principal;
(5) cooperate with a person who has authority to make health-care decisions for the principal
to carry out the principal’s reasonable expectations to the extent actually known
by the agent and otherwise act in the principal’s best interests; and
(6) attempt to preserve the principal’s estate plan, to the extent actually known by the
agent, if preserving the plan is consistent with the principal’s best interests 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 or regulation.
(c) An agent who acts in good faith is not liable to any beneficiary of the principal’s
estate plan for failure to preserve the plan.
(d) An agent who acts with care, competence, and diligence for the best interests of the
principal is not liable solely because the agent also benefits from the act or has
an individual or conflicting interest in relation to the property or affairs of the
principal.
(e) If an agent is selected by the principal because of special skills or expertise possessed
by the agent or in reliance on the agent’s representation that the agent has special
skills or expertise, the special skills or expertise must be considered in determining
whether the agent has acted with care, competence, and diligence under the circumstances.
(f) Absent a breach of duty to the principal, an agent is not liable if the value of the
principal’s property declines.
(g) An agent who exercises authority to delegate to another person the authority granted
by the principal or who engages another person on behalf of the principal is not liable
for an act, error of judgment, or default of that person if the agent exercises care,
competence, and diligence in selecting and monitoring the person.
(h) Except as otherwise provided in the power of attorney, an agent is not required to
disclose receipts, disbursements, or transactions conducted on behalf of the principal
unless ordered by a court or requested by the principal, a guardian, a conservator,
another fiduciary acting for the principal, a governmental agency having authority
to protect the welfare of the principal, or, upon the death of the principal, by the
personal representative or successor in interest of the principal’s estate. If so
requested, within 30 days the agent shall comply with the request or provide a writing
or other record substantiating why additional time is needed and shall comply with
the request within an additional 30 days. (Added 2023, No. 60, § 1, eff. July 1, 2023.)
§ 4015. Exoneration of agent
A provision in a power of attorney relieving an agent of liability for breach of duty
is binding on the principal and the principal’s successors in interest except to the
extent the provision:
(1) relieves the agent of liability for breach of duty committed:
(A) dishonestly;
(B) in bad faith;
(C) with reckless indifference to the purposes of the power of attorney;
(D) through willful misconduct;
(E) through gross negligence; or
(F) with actual fraud; or
(2) was inserted as a result of an abuse of a confidential or fiduciary relationship with
the principal. (Added 2023, No. 60, § 1, eff. July 1, 2023.)
§ 4016. Judicial relief
(a) The following persons may petition a court to construe a power of attorney or review
the agent’s conduct and grant appropriate relief:
(1) the principal or the agent;
(2) a guardian or other fiduciary acting for the principal, including an executor or administrator
of the estate of a deceased principal;
(3) a person authorized to make health-care decisions for the principal;
(4) the principal’s spouse, parent, or descendant;
(5) an individual who would qualify as an heir of the principal under the laws of intestacy;
(6) a person named as a beneficiary to receive any property, benefit, or contractual right
on the principal’s death or as a beneficiary of a trust created by or for the principal
who has a financial interest in the principal’s estate;
(7) a governmental agency having regulatory authority to protect the welfare of the principal;
(8) the principal’s caregiver or another person who demonstrates sufficient interest in
the principal’s welfare; and
(9) a person asked to accept the power of attorney.
(b) Upon motion by the principal, the court shall dismiss a petition filed under this
section, unless the court finds that the principal lacks capacity to revoke the agent’s
authority or the power of attorney. (Added 2023, No. 60, § 1, eff. July 1, 2023.)
§ 4017. Agent’s liability
An agent who violates this chapter is liable to the principal or the principal’s successors
in interest for the amount required to:
(1) restore the value of the principal’s property to what it would have been had the violation
not occurred;
(2) reimburse the principal or the principal’s successors in interest for the attorney’s
fees and costs paid on the agent’s behalf;
(3) reimburse the reasonable attorney’s fees and costs incurred by the principal or the
principal’s successor in interest in pursuing rectification of the violation by the
agent; and
(4) pay such other amounts, damages, costs, or expenses that the court may award. (Added 2023, No. 60, § 1, eff. July 1, 2023.)
§ 4018. Agent’s resignation; notice
Unless the power of attorney provides a different method for an agent’s resignation,
an agent may resign by giving written notice to the principal and, if the principal
is incapacitated or unavailable:
(1) to the guardian, if one has been appointed for the principal, and a coagent or successor
agent; or
(2) if there is no person described in subdivision (1) of this section, to:
(A) the principal’s caregiver;
(B) another person reasonably believed by the agent to have sufficient interest in the
principal’s welfare; or
(C) a governmental agency having authority to protect the welfare of the principal. (Added 2023, No. 60, § 1, eff. July 1, 2023.)
§ 4019. Acceptance of and reliance upon acknowledged power of attorney
(a) As used in this section and section 4020 of this title, “acknowledged” means purportedly verified before a notary public or other individual
authorized to take acknowledgements.
(b) A person who in good faith accepts an acknowledged power of attorney without actual
knowledge that the signature is not genuine may rely upon the presumption under section 4005 of this title that the signature is genuine.
(c) A person who effects a transaction in reliance upon an acknowledged power of attorney
without actual knowledge that the power of attorney is void, invalid, or terminated;
that the purported agent’s authority is void, invalid, or terminated; or that the
agent is exceeding or improperly exercising the agent’s authority may rely upon the
power of attorney as if the power of attorney were genuine, valid, and still in effect;
the agent’s authority were genuine, valid, and still in effect; and the agent had
not exceeded and has properly exercised the authority.
(d) A person who is asked to accept an acknowledged power of attorney may request and
rely upon, without further investigation:
(1) an agent’s certification under penalty of perjury of any factual matter concerning
the principal, agent, or power of attorney; or
(2) an English translation of the power of attorney if the power of attorney contains,
in whole or in part, language other than English; and
(3) an opinion of counsel as to any matter of law concerning the power of attorney if
the person making the request provides in a writing or other record the reason for
the request.
(e) A certification presented pursuant to subsection (d) of this section shall state that:
(1) the person presenting themselves as the agent and signing the affidavit or declaration
is the person so named in the power of attorney;
(2) if the agent is named in the power of attorney as a successor agent, the circumstances
or conditions stated in the power of attorney that would cause that person to become
the acting agent have occurred;
(3) to the best of the agent’s knowledge, the principal is still alive;
(4) to the best of the agent’s knowledge, at the time the power of attorney was signed,
the principal was competent to execute the document and was not under undue influence
to sign the document;
(5) all events necessary to making the power of attorney effective have occurred;
(6) the agent does not have actual knowledge of the revocation, termination, limitation,
or modification of the power of attorney or of the agent’s authority;
(7) if the agent was married to or in a state-registered domestic partnership with the
principal at the time of execution of the power of attorney, then at the time of signing
the affidavit or declaration, the marriage or state-registered domestic partnership
of the principal and the agent has not been dissolved or declared invalid, and no
action is pending for the dissolution of the marriage or domestic partnership for
legal separation; and
(8) the agent is acting in good faith pursuant to the authority given under the power
of attorney.
(f) An English translation or an opinion of counsel requested under this section must
be provided at the principal’s expense unless the request is made more than seven
business days after the power of attorney is presented for acceptance.
(g) For purposes of this section and section 4020 of this title, a person who conducts activities through employees is without actual knowledge of
a fact relating to a power of attorney, a principal, or an agent if the employee conducting
the transaction involving the power of attorney is without actual knowledge of the
fact. (Added 2023, No. 60, § 1, eff. July 1, 2023.)
§ 4020. Liability for refusal to accept acknowledged power of attorney
(a) Except as otherwise provided in subsection (b) of this section:
(1) a person shall either accept an acknowledged power of attorney or request a certification,
a translation, or an opinion of counsel under subsection 4019(d) of this title not later than seven business days after presentation of the power of attorney for
acceptance;
(2) if a person requests a certification, a translation, or an opinion of counsel under
subsection 4019(d) of this title, the person shall accept the power of attorney not later than five business days
after receipt of the certification, translation, or opinion of counsel; and
(3) a person may not require an additional or different form of power of attorney for
authority granted in the power of attorney presented.
(b) A person is not required to accept an acknowledged power of attorney if:
(1) the person is not otherwise required to engage in a transaction with the principal
in the same circumstances;
(2) engaging in a transaction with the agent or the principal in the same circumstances
would be inconsistent with federal or state law;
(3) the person has actual knowledge of the termination of the agent’s authority or of
the power of attorney before exercise of the power;
(4) a request for a certification, a translation, or an opinion of counsel under subsection 4019(d) of this title is refused;
(5) the person in good faith believes that the power is not valid or that the agent does
not have the authority to perform the act requested, whether or not a certification,
a translation, or an opinion of counsel under subsection 4019(d) of this title has been requested or provided; or
(6) the person makes, or has actual knowledge that another person has made, a report to
the Adult Protective Services program or other appropriate entity within the Department
of Disabilities, Aging, and Independent Living or to a law enforcement agency stating
a good faith belief that the principal may be subject to physical or financial abuse,
neglect, exploitation, or abandonment by the agent or a person acting for or with
the agent.
(c) A person who refuses in violation of this section to accept an acknowledged power
of attorney is subject to:
(1) a court order mandating acceptance of the power of attorney; and
(2) liability for reasonable attorney’s fees and costs incurred in any action or proceeding
that confirms the validity of the power of attorney or mandates acceptance of the
power of attorney. (Added 2023, No. 60, § 1, eff. July 1, 2023; amended 2023, No. 161 (Adj. Sess.), § 14, eff. June 6, 2024.)
§ 4021. Principles of law and equity
Unless displaced by a provision of this chapter, the principles of law and equity
supplement this chapter. (Added 2023, No. 60, § 1, eff. July 1, 2023.)
§ 4022. Laws applicable to financial institutions and entities
This chapter does not supersede any other law applicable to financial institutions
or other entities, and the other law controls if inconsistent with this chapter. (Added 2023, No. 60, § 1, eff. July 1, 2023.)
§ 4023. Remedies under other law
The remedies under this chapter are not exclusive and do not abrogate any right or
remedy under the law of this State other than this chapter. (Added 2023, No. 60, § 1, eff. July 1, 2023.)
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Subchapter 002: AUTHORITY
§ 4031. Authority that requires specific grant; grant of general authority
(a) 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;
(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) authorize another person to exercise the authority granted under the power of attorney;
(8) exercise authority over the content of an electronic communication of the principal
in accordance with chapter 125 of this title (Vermont Revised Uniform Fiduciary Access
to Digital Assets Act);
(9) disclaim property, including a power of appointment;
(10) exercise a written waiver of spousal rights under section 323 of this title;
(11) exercise authority with respect to intellectual property, including copyrights, contracts
for payment of royalties, and trademarks; or
(12) convey, or revoke or revise a grantee designation, by enhanced life estate deed pursuant
to chapter 6 of Title 27 or under common law.
(b) Notwithstanding a grant of authority to do an act described in subsection (a) of this
section, 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) Subject to subsections (a), (b), (d), and (e) of this section, if a power of attorney
grants to an agent authority to do all acts that a principal could do, the agent has
the general authority described in sections 4034–4046 of this title.
(d) Unless the power of attorney otherwise provides, a grant of authority to make a gift
is subject to section 4047 of this title.
(e) Subject to subsections (a), (b), and (d) of this section, if the subjects over which
authority is granted in a power of attorney are similar or overlap, the broadest authority
controls.
(f) 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) 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. (Added 2023, No. 60, § 1, eff. July 1, 2023.)
§ 4032. Incorporation of authority
(a) An agent has authority described in this chapter if the power of attorney refers to
general authority with respect to the descriptive term for the subjects stated in
sections 4034–4047 of this title or cites the section in which the authority is described.
(b) A reference in a power of attorney to general authority with respect to the descriptive
term for a subject in sections 4034–4047 of this title or a citation to a section of sections 4034–4047 of this title incorporates the entire section as if it were set out in full in the power of attorney.
(c) A principal may modify authority or a writing or other record incorporated by reference. (Added 2023, No. 60, § 1, eff. July 1, 2023.)
§ 4033. Construction of authority generally
Except as otherwise provided in the power of attorney, by executing a power of attorney
that incorporates by reference a subject described in sections 4034–4047 of this title or that grants to an agent authority to do all acts that a principal could do pursuant
to subsection 4031(c) of this title, a principal authorizes the agent, with respect to that subject, to:
(1) demand, receive, and obtain, by litigation or otherwise, money or another thing of
value to which the principal is, may become, or claims to be entitled, and conserve,
invest, disburse, or use anything so received or obtained for the purposes intended;
(2) contract in any manner with any person, on terms agreeable to the agent, to accomplish
a purpose of a transaction and perform, rescind, cancel, terminate, reform, restate,
release, or modify the contract or another contract made by or on behalf of the principal;
(3) execute, acknowledge, seal, deliver, file, or record any instrument or communication
the agent considers desirable to accomplish a purpose of a transaction, including
creating at any time a schedule listing some or all of the principal’s property and
attaching it to the power of attorney;
(4) initiate, participate in, submit to alternative dispute resolution, settle, oppose,
or propose or accept a compromise with respect to a claim existing in favor of or
against the principal or intervene in litigation relating to the claim;
(5) seek on the principal’s behalf the assistance of a court or other governmental agency
to carry out an act authorized in the power of attorney;
(6) engage, compensate, and discharge an attorney, accountant, discretionary investment
manager, expert witness, or other advisor;
(7) prepare, execute, and file a record, report, or other document to safeguard or promote
the principal’s interest under a statute or regulation;
(8) communicate with any representative or employee of a government or governmental subdivision,
agency, or instrumentality on behalf of the principal;
(9) access communications intended for and communicate on behalf of the principal, whether
by mail, electronic transmission, telephone, or other means; and
(10) do any lawful act with respect to the subject and all property related to the subject. (Added 2023, No. 60, § 1, eff. July 1, 2023.)
§ 4034. Real property
Unless the power of attorney otherwise provides, language in a power of attorney granting
general authority with respect to real property authorizes the agent to:
(1) demand, buy, lease, receive, accept as a gift or as security for an extension of credit,
or otherwise acquire or reject an interest in real property or a right incident to
real property;
(2) sell; exchange; convey, with or without covenants, representations, or warranties;
quitclaim; release; surrender; retain title for security; encumber; partition; consent
to partitioning; subject to an easement or covenant; subdivide; apply for zoning or
other governmental permits; plat or consent to platting; develop; grant an option
concerning; lease; sublease; contribute to an entity in exchange for an interest in
that entity; or otherwise grant or dispose of an interest in real property or a right
incident to real property;
(3) pledge or mortgage an interest in real property or right incident to real property
as security to borrow money or pay, renew, or extend the time of payment of a debt
of the principal or a debt guaranteed by the principal;
(4) release, assign, satisfy, or enforce by litigation or otherwise a mortgage, deed of
trust, conditional sale contract, encumbrance, lien, or other claim to real property
that exists or is asserted;
(5) manage or conserve an interest in real property or a right incident to real property
owned or claimed to be owned by the principal, including:
(A) insuring against liability or casualty or other loss;
(B) obtaining or regaining possession of or protecting the interest or right by litigation
or otherwise;
(C) paying, assessing, compromising, or contesting taxes or assessments or applying for
and receiving refunds in connection with them; and
(D) purchasing supplies, hiring assistance or labor, and making repairs or alterations
to the real property;
(6) use, develop, alter, replace, remove, erect, or install structures or other improvements
upon real property in or incident to which the principal has, or claims to have, an
interest or right;
(7) participate in a reorganization with respect to real property or an entity that owns
an interest in or right incident to real property and receive, and hold, and act with
respect to stocks and bonds or other property received in a plan of reorganization,
including:
(A) selling or otherwise disposing of them;
(B) exercising or selling an option, right of conversion, or similar right with respect
to them; and
(C) exercising any voting rights in person or by proxy;
(8) change the form of title of an interest in or right incident to real property;
(9) dedicate to public use, with or without consideration, easements or other real property
in which the principal has, or claims to have, an interest; and
(10) relinquish any and all of the principal’s rights of homestead under 27 V.S.A. § 105 and elective share under section 323 of this title. (Added 2023, No. 60, § 1, eff. July 1, 2023.)
§ 4035. Tangible personal property
Unless the power of attorney otherwise provides, language in a power of attorney granting
general authority with respect to tangible personal property authorizes the agent
to:
(1) demand, buy, receive, accept as a gift or as security for an extension of credit,
or otherwise acquire or reject ownership or possession of tangible personal property
or an interest in tangible personal property;
(2) sell, exchange, or convey, with or without covenants, representations, or warranties;
quitclaim; release; surrender; create a security interest in; grant options concerning;
lease; sublease; or otherwise dispose of tangible personal property or an interest
in tangible personal property;
(3) grant a security interest in tangible personal property or an interest in tangible
personal property as security to borrow money or pay, renew, or extend the time of
payment of a debt of the principal or a debt guaranteed by the principal;
(4) release, assign, satisfy, or enforce by litigation or otherwise a security interest,
lien, or other claim on behalf of the principal with respect to tangible personal
property or an interest in tangible personal property;
(5) manage or conserve tangible personal property or an interest in tangible personal
property on behalf of the principal, including:
(A) insuring against liability or casualty or other loss;
(B) obtaining or regaining possession of or protecting the property or interest, by litigation
or otherwise;
(C) paying, assessing, compromising, or contesting taxes or assessments or applying for
and receiving refunds in connection with taxes or assessments;
(D) moving the property from place to place;
(E) storing the property for hire or on a gratuitous bailment; and
(F) using and making repairs, alterations, or improvements to the property; and
(6) change the form of title of an interest in tangible personal property. (Added 2023, No. 60, § 1, eff. July 1, 2023.)
§ 4036. Stocks and bonds
Unless the power of attorney otherwise provides, language in a power of attorney granting
general authority with respect to stocks and bonds authorizes the agent to:
(1) buy, sell, and exchange stocks and bonds;
(2) establish, continue, modify, or terminate an account with respect to stocks and bonds;
(3) pledge stocks and bonds as security to borrow, pay, renew, or extend the time of payment
of a debt of the principal;
(4) receive certificates and other evidences of ownership with respect to stocks and bonds;
and
(5) exercise voting rights with respect to stocks and bonds in person or by proxy, enter
into voting trusts, and consent to limitations on the right to vote. (Added 2023, No. 60, § 1, eff. July 1, 2023.)
§ 4037. Commodities and options
Unless the power of attorney otherwise provides, language in a power of attorney granting
general authority with respect to commodities and options authorizes the agent to:
(1) buy, sell, exchange, assign, settle, and exercise commodity futures contracts and
call or put options on stocks or stock indexes traded on a regulated option exchange;
and
(2) establish, continue, modify, and terminate option accounts. (Added 2023, No. 60, § 1, eff. July 1, 2023.)
§ 4038. Banks and other financial institutions
Unless the power of attorney otherwise provides, language in a power of attorney granting
general authority with respect to banks and other financial institutions authorizes
the agent to:
(1) continue, modify, and terminate an account or other banking arrangement made by or
on behalf of the principal;
(2) establish, modify, and terminate an account or other banking arrangement with a bank,
trust company, savings and loan association, credit union, thrift company, brokerage
firm, or other financial institution selected by the agent;
(3) contract for services available from a financial institution, including renting a
safe deposit box or space in a vault;
(4) withdraw, by check, order, electronic funds transfer, or otherwise, money or property
of the principal deposited with or left in the custody of a financial institution;
(5) receive statements of account, vouchers, notices, and similar documents from a financial
institution and act with respect to them;
(6) enter a safe deposit box or vault and withdraw or add to the contents;
(7) borrow money and pledge as security personal property of the principal necessary to
borrow money or pay, renew, or extend the time of payment of a debt of the principal
or a debt guaranteed by the principal;
(8) make, assign, draw, endorse, discount, guarantee, and negotiate promissory notes,
checks, drafts, and other negotiable or nonnegotiable paper of the principal or payable
to the principal or the principal’s order; transfer money; receive the cash or other
proceeds of those transactions; and accept a draft drawn by a person upon the principal
and pay it when due;
(9) receive for the principal and act upon a sight draft, warehouse receipt, or other
document of title whether tangible or electronic, or other negotiable or nonnegotiable
instrument;
(10) apply for, receive, and use letters of credit, credit and debit cards, electronic
transaction authorizations, and traveler’s checks from a financial institution and
give an indemnity or other agreement in connection with letters of credit; and
(11) consent to an extension of the time of payment with respect to commercial paper or
a financial transaction with a financial institution. (Added 2023, No. 60, § 1, eff. July 1, 2023.)
§ 4039. Operation of entity or business
Subject to the terms of a document or an agreement governing an entity or an entity
ownership interest, and unless the power of attorney otherwise provides, language
in a power of attorney granting general authority with respect to operation of an
entity or business authorizes the agent to:
(1) operate, buy, sell, enlarge, reduce, or terminate an ownership interest;
(2) perform a duty or discharge a liability and exercise in person or by proxy a right,
power, privilege, or option that the principal has, may have, or claims to have;
(3) enforce the terms of an ownership agreement;
(4) initiate, participate in, submit to alternative dispute resolution, settle, oppose,
or propose or accept a compromise with respect to litigation to which the principal
is a party because of an ownership interest;
(5) exercise in person or by proxy, or enforce by litigation or otherwise, a right, power,
privilege, or option the principal has or claims to have as the holder of stocks and
bonds;
(6) initiate, participate in, submit to alternative dispute resolution, settle, oppose,
or propose or accept a compromise with respect to litigation to which the principal
is a party concerning stocks and bonds;
(7) with respect to an entity or business owned solely by the principal:
(A) continue, modify, renegotiate, extend, and terminate a contract made by or on behalf
of the principal with respect to the entity or business before execution of the power
of attorney;
(B) determine:
(i) the location of its operation;
(ii) the nature and extent of its business;
(iii) the methods of manufacturing, selling, merchandising, financing, accounting, and advertising
employed in its operation;
(iv) the amount and types of insurance carried; and
(v) the mode of engaging, compensating, and dealing with its employees and accountants,
attorneys, or other advisors;
(C) change the name or form of organization under which the entity or business is operated
and enter into an ownership agreement with other persons to take over all or part
of the operation of the entity or business; and
(D) demand and receive money due or claimed by the principal or on the principal’s behalf
in the operation of the entity or business and control and disburse the money in the
operation of the entity or business;
(8) put additional capital into an entity or business in which the principal has an interest;
(9) join in a plan of reorganization, consolidation, conversion, domestication, or merger
of the entity or business;
(10) sell or liquidate all or part of an entity or business;
(11) establish the value of an entity or business under a buy-out agreement to which the
principal is a party;
(12) prepare, sign, file, and deliver reports, compilations of information, returns, or
other papers with respect to an entity or business and make related payments; and
(13) pay, compromise, or contest taxes, assessments, fines, or penalties and perform any
other act to protect the principal from illegal or unnecessary taxation, assessments,
fines, or penalties, with respect to an entity or business, including attempts to
recover, in any manner permitted by law, money paid before or after the execution
of the power of attorney. (Added 2023, No. 60, § 1, eff. July 1, 2023.)
§ 4040. Insurance and annuities
Unless the power of attorney otherwise provides, language in a power of attorney granting
general authority with respect to insurance and annuities authorizes the agent to:
(1) continue, pay the premium or make a contribution on, modify, exchange, rescind, release,
or terminate a contract procured by or on behalf of the principal that insures or
provides an annuity to either the principal or another person, whether or not the
principal is a beneficiary under the contract;
(2) procure new, different, and additional contracts of insurance and annuities for the
principal and the principal’s spouse, children, and other dependents and select the
amount, type of insurance or annuity, and mode of payment;
(3) pay the premium or make a contribution on, modify, exchange, rescind, release, or
terminate a contract of insurance or annuity procured by the agent;
(4) apply for and receive a loan secured by a contract of insurance or annuity;
(5) surrender and receive the cash surrender value on a contract of insurance or annuity;
(6) exercise an election;
(7) exercise investment powers available under a contract of insurance or annuity;
(8) change the manner of paying premiums on a contract of insurance or annuity;
(9) change or convert the type of insurance or annuity with respect to which the principal
has or claims to have authority described in this section;
(10) apply for and procure a benefit or assistance under a statute or regulation to guarantee
or pay premiums of a contract of insurance on the life of the principal;
(11) collect, sell, assign, hypothecate, borrow against, or pledge the interest of the
principal in a contract of insurance or annuity;
(12) select the form and timing of the payment of proceeds from a contract of insurance
or annuity; and
(13) pay, from proceeds or otherwise, compromise or contest, and apply for refunds in connection
with, a tax or assessment levied by a taxing authority with respect to a contract
of insurance or annuity or its proceeds or liability accruing by reason of the tax
or assessment. (Added 2023, No. 60, § 1, eff. July 1, 2023.)
§ 4041. Estates, trusts, and other beneficial interests
(a) As used in this section, “estate, trust, or other beneficial interest” means a trust,
probate estate, guardianship, conservatorship, escrow, or custodianship or a fund
from which the principal is, may become, or claims to be entitled to a share or payment.
(b) Unless the power of attorney otherwise provides, language in a power of attorney granting
general authority with respect to estates, trusts, and other beneficial interests
authorizes the agent to:
(1) accept, receive, receipt for, sell, assign, pledge, or exchange a share in or payment
from an estate, trust, or other beneficial interest;
(2) demand or obtain money or another thing of value to which the principal is, may become,
or claims to be entitled by reason of an estate, trust, or other beneficial interest,
by litigation or otherwise;
(3) exercise for the benefit of the principal a presently exercisable general power of
appointment held by the principal;
(4) initiate, participate in, submit to alternative dispute resolution, settle, oppose,
or propose or accept a compromise with respect to litigation to ascertain the meaning,
validity, or effect of a deed, will, declaration of trust, or other instrument or
transaction affecting the interest of the principal;
(5) initiate, participate in, submit to alternative dispute resolution, settle, oppose,
or propose or accept a compromise with respect to litigation to remove, substitute,
or surcharge a fiduciary;
(6) conserve, invest, disburse, or use anything received for an authorized purpose; and
(7) transfer an interest of the principal in real property, stocks and bonds, accounts
with financial institutions or securities intermediaries, insurance, annuities, and
other property to the trustee of a revocable trust created by the principal as settlor. (Added 2023, No. 60, § 1, eff. July 1, 2023.)
§ 4042. Claims and litigation
Unless the power of attorney otherwise provides, language in a power of attorney granting
general authority with respect to claims and litigation authorizes the agent to:
(1) assert and maintain before a court or administrative agency a claim, claim for relief,
cause of action, counterclaim, offset, recoupment, or defense, including an action
to recover property or other thing of value, recover damages sustained by the principal,
eliminate or modify tax liability, or seek an injunction, specific performance, or
other relief;
(2) bring an action to determine adverse claims or intervene or otherwise participate
in litigation;
(3) seek an attachment, garnishment, order of arrest, or other preliminary, provisional,
or intermediate relief and use an available procedure to effect or satisfy a judgment,
order, or decree;
(4) make or accept a tender, offer of judgment, or admission of facts; submit a controversy
on an agreed statement of facts; consent to examination; and bind the principal in
litigation;
(5) submit to alternative dispute resolution, settle, and propose or accept a compromise;
(6) waive the issuance and service of process upon the principal; accept service of process;
appear for the principal; designate persons upon which process directed to the principal
may be served; execute and file or deliver stipulations on the principal’s behalf;
verify pleadings; seek appellate review; procure and give surety and indemnity bonds;
contract and pay for the preparation and printing of records and briefs; and receive,
execute, and file or deliver a consent, waiver, release, confession of judgment, satisfaction
of judgment, notice, agreement, or other instrument in connection with the prosecution,
settlement, or defense of a claim or litigation;
(7) act for the principal with respect to bankruptcy or insolvency, whether voluntary
or involuntary, concerning the principal or some other person, or with respect to
a reorganization, receivership, or application for the appointment of a receiver or
trustee that affects an interest of the principal in property or other thing of value;
(8) pay a judgment, award, or order against the principal or a settlement made in connection
with a claim or litigation; and
(9) receive money or other thing of value paid in settlement of or as proceeds of a claim
or litigation. (Added 2023, No. 60, § 1, eff. July 1, 2023.)
§ 4043. Personal and family maintenance
(a) Unless the power of attorney otherwise provides, language in a power of attorney granting
general authority with respect to personal and family maintenance authorizes the agent
to:
(1) perform the acts necessary to maintain the customary standard of living of the principal,
the principal’s spouse, and the following individuals, whether living when the power
of attorney is executed or later born:
(A) other individuals legally entitled to be supported by the principal; and
(B) the individuals whom the principal has customarily supported or indicated the intent
to support;
(2) make periodic payments of child support and other family maintenance required by a
court or governmental agency or an agreement to which the principal is a party;
(3) provide living quarters for the individuals described in subdivision (1) of this subsection
by:
(A) purchase, lease, or other contract; or
(B) paying the operating costs, including interest, amortization payments, repairs, improvements,
and taxes, for premises owned by the principal or occupied by those individuals;
(4) provide normal domestic help, usual vacations and travel expenses, and funds for shelter,
clothing, food, appropriate education, including postsecondary and vocational education,
and other current living costs for the individuals described in subdivision (1) of
this subsection;
(5) pay expenses for necessary health care and custodial care on behalf of the individuals
described in subdivision (1) of this subsection;
(6) act as the principal’s personal representative pursuant to the Health Insurance Portability
and Accountability Act; Sections 1171–1179 of the Social Security Act; 42 U.S.C. § 1320d, as amended; and applicable regulations in making decisions related to the past,
present, or future payment for the provision of health care consented to by the principal
or anyone authorized under the law of this State to consent to health care on behalf
of the principal;
(7) continue any provision made by the principal for automobiles or other means of transportation,
including registering, licensing, insuring, and replacing them, for the individuals
described in subdivision (1) of this subsection;
(8) maintain credit and debit accounts for the convenience of the individuals described
in subdivision (1) of this subsection and open new accounts; and
(9) continue payments incidental to the membership or affiliation of the principal in
a religious institution, club, society, order, or other organization or to continue
contributions to those organizations.
(b) Authority with respect to personal and family maintenance is neither dependent upon,
nor limited by, authority that an agent may or may not have with respect to gifts
under this chapter. (Added 2023, No. 60, § 1, eff. July 1, 2023.)
§ 4044. Benefits from governmental programs or civil or military service
(a) As used in this section, “benefits from governmental programs or civil or military
service” means any benefit, program, or assistance provided under a statute or regulation,
including Social Security, Medicare, Medicaid, and the Department of Veterans Affairs.
(b) Unless the power of attorney otherwise provides, language in a power of attorney granting
general authority with respect to benefits from governmental programs or civil or
military service authorizes the agent to:
(1) execute vouchers in the name of the principal for allowances and reimbursements payable
by the United States or a foreign government or by a state or subdivision of a state
to the principal, including allowances and reimbursements for transportation of the
individuals described in subdivision 4043(a)(1) of this title and for shipment of their household effects;
(2) take possession and order the removal and shipment of property of the principal from
a post, warehouse, depot, dock, or other place of storage or safekeeping, either governmental
or private, and execute and deliver a release, voucher, receipt, bill of lading, shipping
ticket, certificate, or other instrument for that purpose;
(3) enroll in, apply for, select, reject, change, amend, or discontinue, on the principal’s
behalf, a benefit or program;
(4) prepare, file, and maintain a claim of the principal for a benefit or assistance,
financial or otherwise, to which the principal may be entitled under a statute or
regulation;
(5) initiate, participate in, submit to alternative dispute resolution, settle, oppose,
or propose or accept a compromise with respect to litigation concerning any benefit
or assistance the principal may be entitled to receive under a statute or regulation;
and
(6) receive the financial proceeds of a claim described in subdivision (4) of this subsection
and conserve, invest, disburse, or use for a lawful purpose anything so received. (Added 2023, No. 60, § 1, eff. July 1, 2023.)
§ 4045. Retirement plans
(a) As used in this section, “retirement plan” means a plan or account created by an employer,
the principal, or another individual to provide retirement benefits or deferred compensation
of which the principal is a participant, beneficiary, or owner, including a plan or
account under the following sections of the Internal Revenue Code:
(1) an individual retirement account under Internal Revenue Code § 408, 26 U.S.C. § 408, as amended;
(2) a Roth individual retirement account under Internal Revenue Code § 408A, 26 U.S.C. § 408A, as amended;
(3) a deemed individual retirement account under Internal Revenue Code § 408(q), 26 U.S.C. § 408(q), as amended;
(4) an annuity or mutual fund custodial account under Internal Revenue Code § 403(b), 26 U.S.C. § 403(b), as amended;
(5) a pension, profit-sharing, stock bonus, or other retirement plan qualified under Internal Revenue Code § 401(a), 26 U.S.C. § 401(a), as amended;
(6) a plan under Internal Revenue Code § 457(b), 26 U.S.C. § 457(b), as amended; and
(7) a nonqualified deferred compensation plan under Internal Revenue Code § 409A, 26 U.S.C. § 409A, as amended.
(b) Unless the power of attorney otherwise provides, language in a power of attorney granting
general authority with respect to retirement plans authorizes the agent to:
(1) select the form and timing of payments under a retirement plan and withdraw benefits
from a plan;
(2) make a rollover, including a direct trustee-to-trustee rollover, of benefits from
one retirement plan to another;
(3) establish a retirement plan in the principal’s name;
(4) make contributions to a retirement plan;
(5) exercise investment powers available under a retirement plan; and
(6) borrow from, sell assets to, or purchase assets from a retirement plan. (Added 2023, No. 60, § 1, eff. July 1, 2023.)
§ 4046. Taxes
Unless the power of attorney otherwise provides, language in a power of attorney granting
general authority with respect to taxes authorizes the agent to:
(1) prepare, sign, and file federal, state, local, and foreign income, gift, payroll,
property, Federal Insurance Contributions Act, and other tax returns; claims for refunds;
requests for extension of time; petitions regarding tax matters; and any other tax-related
documents, including receipts; offers; waivers; consents, including consents and agreements
under Internal Revenue Code § 2032A, 26 U.S.C. § 2032A, as amended; closing agreements; and any power of attorney required by the Internal
Revenue Service or other taxing authority, including an internal revenue service form
2848 in favor of any third party with respect to a tax year upon which the statute
of limitations has not run and the following 25 tax years;
(2) pay taxes due, collect refunds, post bonds, receive confidential information, and
contest deficiencies determined by the Internal Revenue Service or other taxing authority;
(3) exercise any election available to the principal under federal, state, local, or foreign
tax law; and
(4) act for the principal in all tax matters for all periods before the Internal Revenue
Service, or other taxing authority. (Added 2023, No. 60, § 1, eff. July 1, 2023.)
§ 4047. Gifts
(a) For purposes of this section, “gift” includes a gift for the benefit of a person,
including a gift to a trust, an account under chapter 115 of this title (Vermont Uniform
Transfers to Minors Act), and a tuition savings account or prepaid tuition plan as
defined under Internal Revenue Code § 529, 26 U.S.C. § 529, as amended.
(b) An agent may make a gift of the principal’s property only as the agent determines
is consistent with the principal’s objectives if actually known by the agent or, if
unknown, as the agent determines is consistent with the principal’s best interests
based on all relevant factors, including:
(1) evidence of the principal’s intent;
(2) the principal’s personal history of making or joining in the making of lifetime gifts;
(3) the principal’s estate plan;
(4) the principal’s foreseeable obligations and maintenance needs and the impact of the
proposed gift on the principal’s housing options, access to care and services, and
general welfare;
(5) the income, gift, estate, or inheritance tax consequences of the transaction; and
(6) whether the proposed gift creates a foreseeable risk that the principal will be deprived
of sufficient assets to cover the principal’s needs during any period of Medicaid
ineligibility that would result from the proposed gift.
(c) [Repealed.] (Added 2023, No. 60, § 1, eff. July 1, 2023; amended 2023, No. 161 (Adj. Sess.), § 15, eff. June 6, 2024.)
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Subchapter 003: STATUTORY FORMS
§ 4051. Statutory form power of attorney
A document substantially in the following form may be used to create a statutory form
power of attorney that has the meaning and effect prescribed by this chapter.
VERMONT STATUTORY FORM POWER OF ATTORNEY IMPORTANT INFORMATION
This power of attorney authorizes another person (your agent) to make decisions concerning
your property for you (the principal). Your agent will be able to make decisions and
act with respect to your property (including your money) whether or not you are able
to act for yourself. The meaning of authority over subjects listed on this form is
explained in the Vermont Uniform Power of Attorney Act, 14 V.S.A. chapter 127.
This power of attorney does not authorize the agent to make health-care decisions
for you.
You should select someone you trust to serve as your agent. Unless you specify otherwise,
generally the agent’s authority will continue until you die or revoke the power of
attorney or the agent resigns or is unable to act for you. Your agent is entitled
to reasonable compensation unless you state otherwise in the Special Instructions.
This form does not revoke powers of attorney previously executed by you unless you
initial the introductory paragraph under DESIGNATION OF AGENT that all previous powers
of attorney are revoked.
This form provides for designation of one agent. If you wish to name more than one
agent, you may name a coagent in the Special Instructions. Coagents are not required
to act together unless you include that requirement in the Special Instructions.
If your agent is unable or unwilling to act for you, your power of attorney will end
unless you have named a successor agent. You may also name a second successor agent.
This power of attorney becomes effective immediately unless you state otherwise in
the Special Instructions.
If you have questions about the power of attorney or the authority you are granting
to your agent, you should seek legal advice before signing this form.
DESIGNATION OF AGENT
I _______________________________________ (Name of Principal) ( ) revoke all previous powers of attorney and name the following person as my agent:
Name of Agent: _______________________________________
Agent’s Address: _______________________________________________________________________
Agent’s Telephone Number: _______________________________________
DESIGNATION OF SUCCESSOR AGENT(S) (OPTIONAL)
If my agent is unable or unwilling to act for me, I name as my successor agent:
Name of Successor Agent: _______________________________________
Successor Agent’s Address: _______________________________________________________________________
Successor Agent’s Telephone Number: _______________________________________
If my agent is unable or unwilling to act for me, I name as my second successor agent:
Name of Second Successor Agent: _______________________________________
Second Successor Agent’s Address: _______________________________________________________________________
Second Successor Agent’s Telephone Number: _______________________________________
GRANT OF GENERAL AUTHORITY
I grant my agent and any successor agent general authority to act for me with respect
to the following subjects as defined in the Vermont Uniform Power of Attorney Act,
14 V.S.A. chapter 127, together with the incidental powers enumerated in section 4033
of that chapter.
(STRIKE THROUGH each subject you DO NOT want to include in the agent’s general authority.)
Real Property
Tangible Personal Property
Stocks and Bonds
Commodities and Options
Banks and Other Financial Institutions
Operation of Entity or Business
Insurance and Annuities
Estates, Trusts, and Other Beneficial Interests
Claims and Litigation
Personal and Family Maintenance
Benefits from Governmental Programs or Civil or Military Service
Retirement Plans
Taxes
GRANT OF SPECIFIC AUTHORITY (OPTIONAL)
My agent MAY NOT do any of the following specific acts for me UNLESS I have INITIALED
the specific authority listed below:
(CAUTION: Granting any of the following will give your agent the authority to take
actions that could significantly reduce your property or change how your property
is distributed at your death. INITIAL ONLY the specific authority you WANT to give
your agent.)
( ) An agent who is not an ancestor, spouse, or descendant may exercise authority under
this 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 my property whether by gift, rights
of survivorship, beneficiary designation, disclaimer, or otherwise
( ) Create, amend, revoke, or terminate an inter vivos, family, living, irrevocable,
or revocable trust
( ) Consent to the modification or termination of a noncharitable irrevocable trust under 14A V.S.A. § 411
( ) Make a gift, subject to the limitations of 14 V.S.A. § 4047 (gifts) and any special instructions in this power of attorney
( ) Create, amend, or change rights of survivorship
( ) Create, amend, or change a beneficiary designation
( ) Waive the principal’s right to be a beneficiary of a joint and survivor annuity,
including a survivor benefit under a retirement plan
( ) Exercise fiduciary powers that the principal has authority to delegate
( ) Authorize another person to exercise the authority granted under this power of attorney
( ) Disclaim or refuse an interest in property, including a power of appointment
( ) Exercise authority with respect to elective share under 14 V.S.A. § 319
( ) Exercise waiver rights under 14 V.S.A. § 323
( ) Exercise authority over the content and catalogue of electronic communications and
digital assets under 14 V.S.A. chapter 125 (Vermont Revised Uniform Fiduciary Access
to Digital Assets Act)
( ) Exercise authority with respect to intellectual property, including, without limitation,
copyrights, contracts for payment of royalties, and trademarks
( ) Convey, or revoke or revise a grantee designation, by enhanced life estate deed
pursuant to 27 V.S.A. chapter 6 or under common law.
LIMITATION ON AGENT’S AUTHORITY
An agent who is not my ancestor, spouse, or descendant MAY NOT use my property to
benefit the agent or a person to whom the agent owes an obligation of support unless
I have included that authority in the Special Instructions.
WHEN POWER OF ATTORNEY EFFECTIVE
This power of attorney becomes effective when executed unless the principal has initialed
one of the following:
( ) This power of attorney is effective only upon my later incapacity. OR
( ) This power of attorney is effective only upon my later incapacity or unavailability.
OR
( ) I direct that this power of attorney shall become effective when one or more of
the following occurs:
_________________________________________
_________________________________________
_________________________________________
_________________________________________
_________________________________________
_________________________________________
_________________________________________
EFFECTIVE DATE
This power of attorney is effective immediately unless I have indicated or stated
otherwise in the section above entitled When Power of Attorney Effective or in the
section below entitled Special Instructions.
SPECIAL INSTRUCTIONS (OPTIONAL)
You may give special instructions on the following lines:
_________________________________________
_________________________________________
_________________________________________
_________________________________________
_________________________________________
_________________________________________
_________________________________________
NOMINATION OF GUARDIAN (OPTIONAL)
If it becomes necessary for a court to appoint a guardian of my estate or a guardian
of my person, I nominate the following person(s) for appointment:
Name of Nominee for [conservator or guardian] of my estate: _________________________________________
Nominee’s Address: _________________________________________
Nominee’s Telephone Number: _________________________________________
Name of Nominee for guardian of my person: _________________________________________
Nominee’s Address: _________________________________________
Nominee’s Telephone Number: _________________________________________
RELIANCE ON THIS POWER OF ATTORNEY
Any person, including my agent, may rely upon the validity of this power of attorney
or a copy of it unless that person knows it has terminated or is invalid. Unless expressly
stated otherwise, this power of attorney is durable and shall remain valid if I become
incapacitated or unavailable.
SIGNATURE AND ACKNOWLEDGMENT
Your Name Printed: _________________________________________
Your Address: _________________________________________
Your Telephone Number: _________________________________________
State of: _________________________________________
County of: _________________________________________
This document was acknowledged before me on: (Date)_________________________________________
by . (Name of Principal)_________________________________________
(Seal, if any): _________________________________________
Signature of Notary: _________________________________________
My commission expires: _________________________________________
IMPORTANT INFORMATION FOR AGENT
Agent’s Duties
When you accept the authority granted under this power of attorney, a special legal
relationship is created between you and the principal. This relationship imposes upon
you legal duties that continue until you resign or the power of attorney is terminated
or revoked. You must:
(1) do what you know the principal reasonably expects you to do with the principal’s property
or, if you do not know the principal’s expectations, act in the principal’s best interests;
(2) act in good faith;
(3) do nothing beyond the authority granted in this power of attorney; and
(4) disclose your identity as an agent whenever you act for the principal by writing or
printing the name of the principal and signing your own name as “agent” in the following
manner: (Principal’s Name) by (Your Signature) as Agent.
Unless the Special Instructions in this power of attorney state otherwise, you must
also:
(1) act loyally for the principal’s benefit;
(2) avoid conflicts that would impair your ability to act in the principal’s best interest;
(3) act with care, competence, and diligence;
(4) keep a record of all receipts, disbursements, and transactions made on behalf of the
principal;
(5) cooperate with any person that has authority to make health-care decisions for the
principal to do what you know the principal reasonably expects or, if you do not know
the principal’s expectations, to act in the principal’s best interests; and
(6) attempt to preserve the principal’s estate plan if you know the plan and preserving
the plan is consistent with the principal’s best interests.
Termination of Agent’s Authority
You must stop acting on behalf of the principal if you learn of any event that terminates
this power of attorney or your authority under this power of attorney. Events that
terminate a power of attorney or your authority to act under a power of attorney include:
(1) death of the principal;
(2) the principal’s revocation of the power of attorney or your authority;
(3) the occurrence of a termination event stated in the power of attorney;
(4) the purpose of the power of attorney is fully accomplished; or
(5) if you are married to the principal, a legal action is filed with a court to end your
marriage, or for your legal separation, unless the Special Instructions in this power
of attorney state that such an action will not terminate your authority.
Liability of Agent
The meaning of the authority granted to you is defined in the Vermont Uniform Power
of Attorney Act, 14 V.S.A. chapter 127. If you violate the Vermont Uniform Power of Attorney Act, or act outside the authority
granted, you may be liable for any damages caused by your violation. In addition to
civil liability, failure to comply with your duties and authority granted under this
document could subject you to criminal prosecution.
If there is anything about this document or your duties that you do not understand,
you should seek legal advice. (Added 2023, No. 60, § 1, eff. July 1, 2023; amended 2023, No. 161 (Adj. Sess.), § 16, eff. June 6, 2024; 2025, No. 64, § 14, eff. June 12, 2025.)
§ 4052. Statutory short form power of attorney for real estate transactions
(a) A document substantially in the following form may be used to create a statutory form
power of attorney for a real estate transaction that has the meaning and effect prescribed
by this chapter. Nothing in this section shall prohibit a principal from using this
form to grant other powers to an agent with respect to real property consistent with
section 4034 of this title.
VERMONT STATUTORY FORM POWER OF ATTORNEY IMPORTANT INFORMATION
This power of attorney authorizes another person (your agent) to take actions for
you (the principal) in connection with a real estate transaction (sale, purchase,
mortgage, gift, or other authorized real estate transaction). Your agent will be able
to make decisions and act with respect to a specific parcel of land whether or not
you are able to act for yourself. The meaning of authority over subjects listed on
this form is explained in the Vermont Uniform Power of Attorney Act, 14 V.S.A. chapter 127.
DESIGNATION OF AGENT
I/we _______________________________________ and _______________________________________
(Name(s) of Principal) appoint the following person as my (our) agent:
Name of Agent: _________________________________________
Name of Successor Agent: _________________________________________
Address of Property that is the subject of this power of attorney
(Street): , (Municipality)_________________________________________
_______________________________________________________________________ , Vermont.
Transaction for which the power of attorney is given:
[ ] Sale
[ ] Purchase or Acquisition
[ ] Finance and/or Mortgage
[ ] Gift
[ ] Other _______________________________________________________________________
GRANT OF AUTHORITY
I/we grant my (our) agent and any successor agent authority named in this power
of attorney to act for me/us with respect to a real estate transaction involving the
property with the address stated above, including, but not limited to, the powers
described in 14 V.S.A. § 4034(2), (3), and (4) as provided in the Vermont Uniform Power of Attorney Act, 14 V.S.A. chapter 127, together with the incidental powers enumerated in section 4033 of that chapter.
POWER TO DELEGATE
[ ] If this box is checked, each agent appointed in this power of attorney may delegate
the authority to act to another person. Any delegation shall be in writing and executed
in the same manner as this power of attorney.
TERM
This power of attorney commences when fully executed and continues until the real
estate transaction for which it was given is complete.
SELF DEALING
[ ] If this box is checked, the agent named in this power of attorney may convey
the subject real estate with or without consideration to the agent, individually,
in trust, or to one or more persons with the agent.
CHOICE OF LAW
This power of attorney and the effect hereof shall be determined by the application
of Vermont law and the Vermont Uniform Power of Attorney Act.
SIGNATURE AND ACKNOWLEDGMENT
_______________________________________________________________________ Your Name Printed
_______________________________________________________________________ Your Address
_______________________________________________________________________ Your Telephone Number_______________________________________________________________________
State of _________________________________________
County of _________________________________________
This document was acknowledged before me on (Date) _________________________________________
by _______________________________________________________________________
(Name of Principal)
_________________________________________ (Seal, if any)
Signature of Notary _________________________________________
My Commission expires: _________________________________________
(b) A power of attorney in the form above confers on the agent the powers provided in
subdivisions 4034(2), (3), and (4) of this chapter. (Added 2023, No. 60, § 1, eff. July 1, 2023; amended 2023, No. 161 (Adj. Sess.), § 17, eff. June 6, 2024.)
§ 4053. Agent’s certification
The following optional form may be used by an agent to certify facts concerning a
power of attorney.
AGENT’S CERTIFICATION AS TO THE VALIDITY OF POWER OF ATTORNEY AND AGENT’S AUTHORITY
State of_______________________________________
[County] of _______________________________________ ]
I, (Name of Agent), _______________________________________ certify under penalty of perjury that _______________________________________(Name of Principal) granted me authority as an agent or successor agent in a power of attorney dated_________________________________________ .
I further certify that to my knowledge:
(1) the Principal is alive and has not revoked
the Power of Attorney or my authority to act under the Power of Attorney and the Power
of Attorney and my authority to act under the Power of Attorney have not terminated;
(2) if the Power of Attorney was drafted to
become effective upon the happening of an event or contingency, the event or contingency
has occurred;
(3) if I was named as a successor agent, the
prior agent is no longer able or willing to serve; and
(4) (Insert other relevant statements below)
----------------- _________________________________________
----------------- _________________________________________
----------------- _________________________________________
----------------- _________________________________________
----------------- _________________________________________
SIGNATURE AND ACKNOWLEDGMENT
----------------- _________________________________________
Agent’s Name Printed _______________________________________________________________________
Agent’s Address _______________________________________________________________________
Agent’s Telephone Number _______________________________________________________________________
This document was acknowledged before me on (Date) _________________________________________ by _______________________________________________________________________
(Name of Agent)
_______________________________________________________________________Signature of Notary (Seal, if any)
My commission expires: _________________________________________
(Added 2023, No. 60, § 1, eff. July 1, 2023.)