Vermont § 4041 - Estates, trusts, and other beneficial interests

§ 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.)