Section 4458 - Powers with respect to estate, trust and other beneficiary transactionsIn a statutory form 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 the power to do all of the following:
(a) Accept, receive, receipt for, sell, assign, pledge, or exchange, a share in, or payment from, the fund.(b) 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.(c) 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.(d) Initiate, participate in, and oppose litigation to remove, substitute, or surcharge a fiduciary.(e) Conserve, invest, disburse, and use anything received for an authorized purpose.(f) 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.(g) Disclaim a detrimental transfer to the principal with the approval of the court.Amended by Stats 2011 ch 113 (AB 1082),s 6, eff. 1/1/2012.