Sec. 1-50. Estate transactions.
Sec. 1-50. Estate transactions. In a statutory short form power of attorney, the
language conferring general authority with respect to "estate transactions" shall be construed to mean that the principal authorizes the agent: (1) To the extent that an agent is
permitted by law thus to act for a principal, to apply for and procure, in the name of the
principal, letters of administration, letters testamentary, letters of trusteeship, or any
other type of authority, either judicial or administrative; to act as a fiduciary of any sort;
(2) to the extent that an agent is permitted by law thus to act for a principal, to represent
and act for the principal in all ways and in all matters affecting any estate of a decedent,
absentee, infant or incompetent, or any trust or other fund, out of which the principal
is entitled, or claims to be entitled, to some share or payment, or with respect to which
the principal is a fiduciary; (3) to accept, reject, receive, receipt for, sell, assign, release,
pledge, exchange or consent to a reduction in a modification of, any share in or payment
from any estate, trust or other fund; (4) to demand, obtain by action, proceeding or
otherwise any money, or other thing of value to which the principal is, or may become,
or may claim to be, entitled by reason of the death testate or intestate of any person or
of any testamentary disposition or of any trust or by reason of the administration of the
estate of a decedent or absentee or of the guardianship of an infant or incompetent or
the administration of any trust or other fund; to initiate, participate in and oppose any
proceeding, judicial or otherwise, for the ascertainment of the meaning, validity or effect
of any deed, will, declaration of trust or other transaction affecting in any way the interest
of the principal; to initiate, participate in and oppose any proceeding, judicial or otherwise, for the removal, substitution or surcharge of a fiduciary; to conserve, invest, disburse or utilize anything so received for the purposes enumerated in this section, and
to be reimbursed for any expenditures properly made by him in the execution of the
powers conferred on him by the statutory short form power of attorney; (5) to prepare,
sign, file and deliver all reports, compilations of information, returns or papers with
respect to any interest had or claimed by or on behalf of the principal in any estate, trust
or other fund; to pay, compromise or contest, and apply for refunds in connection with,
any tax or assessment, with respect to any interest had or claimed by or on behalf of the
principal in any estate, trust or other fund or by reason of the death of any person, or
with respect to any property in which such interest is had or claimed; (6) to agree and
contract, in any manner, and with any person and on any terms, which the agent may
select, for the accomplishment of the purposes enumerated in this section, and to perform, rescind, reform, release or modify any such agreement or contract or any other
similar agreement or contract made by or on behalf of the principal; (7) to execute,
acknowledge, verify, seal, file and deliver any consent, designation, pleading, notice,
demand, election, conveyance, release, assignment, check, pledge, waiver, admission
of service, notice of appearance or other instrument which the agent deems useful for
the accomplishment of any of the purposes enumerated in this section; (8) to submit to
arbitration or settle, and to propose or accept a compromise with respect to, any controversy or claim which affects the estate of a decedent, absentee, infant or incompetent,
or the administration of a trust or other fund, in any one of which the principal has, or
claims to have, an interest, and to do any and all acts which the agent deems desirable
or necessary in effectuating such compromise; (9) to hire, discharge and compensate
any attorney, accountant, expert witness or other assistant or assistants, when the agent
deems such action to be desirable for the proper execution by him of any of the powers
described in this section, and for the keeping of needed records thereof; and (10) in
general, and in addition to all the specific acts in this section enumerated, to do any
other act or acts, which the principal can do through an agent, with respect to the estate
of a decedent, absentee, infant or incompetent, or the administration of a trust or other
fund, in any one of which the principal has, or claims to have, an interest, or with respect
to which the principal is a fiduciary. All powers described in this section shall be exercisable equally with respect to any estate of a decedent, absentee, infant or incompetent,
or the administration of any trust or other fund, in which the principal is interested at
the giving of the power of attorney or may thereafter become interested, and whether
located in the state of Connecticut or elsewhere.
(February, 1965, P.A. 573, S. 9.)