Vermont § 4031 - Authority that requires specific grant; grant of general 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.)