Oklahoma § 15-1013 - Construction of power relating to estate, trust, and

§ 15-1013. Construction of power relating to estate, trust, and

other beneficiary transactions.

CONSTRUCTION OF POWER RELATING TO ESTATE,

TRUST, AND OTHER BENEFICIARY TRANSACTIONS

In a statutory power of attorney, the language granting power

with respect to estate, trust, and other beneficiary transactions

empowers the agent to act for the principal in all matters that

affect a trust, probate estate, guardianship, conservatorship,

escrow, custodianship, or other fund from which the principal is,

may become, or claims to be entitled, as a beneficiary, to a share

or payment, including to:

1. Accept, reject, disclaim, receive, receipt for, sell,

assign, release, pledge, exchange, or consent to a reduction in or

modification of a share in or payment from the fund;

2. Demand or obtain by litigation or otherwise money or other

thing of value to which the principal is, may become, or claims to

be entitled by reason of the fund;

3. Initiate, participate in, and oppose 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;

4. Initiate, participate in, and oppose litigation to remove,

substitute, or surcharge a fiduciary;

5. Conserve, invest, disburse, and use anything received for an

authorized purpose; and

6. Transfer an interest of the principal in real property,

stocks, bonds, accounts with financial institutions, insurance, and

other property, to the trustee of a revocable trust created by the

principal as settlor.

Added by Laws 1998, c. 420, § 13, eff. Nov. 1, 1998.