This second part of a four part series describes the changes made by Act 95 of 2014 to the authority of agents to make gifts and other acts affecting the principal's estate plan and the disposition of property after the death of the principal.
In will contest, executor of probated will (and former agent of decedent under a power of attorney) appealed from the trial court’s demurrer of two preliminary objections, arguing that intestate heirs lack standing to contest the will and lack standing … Continue reading
House Bill 1429, which makes a number of changes to the form and effect of powers of attorney, was signed by Governor Corbett on July 2, becoming Act 95 of 2014. The more important changes made by Act 95 include new requirements for witnesses and notarized acknowledgements, changes to the notice to the principal and the required acknowledgements by agents, new limits on the liability of third parties in order to reverse the reasoning of the Supreme Court in the Vine decision, new limits on the power of agents to make gifts and other estate planning actions, and a revision and restatement of the duties and liabilities of agents.
Continue readingIn an action by the one of executors to compel an accounting by the agents under a power of attorney, the law firm representing the petitioner-executor was disqualified when a principal of the firm had previously represented the decedent and … Continue reading
Agent under durable power of attorney established irrevocable trust, which denied the right of the principal to the trust’s principal. Principal objected to the trust, and the trust was terminated. Following principal’s death, former agent petitioned to have the trust … Continue reading
Agent under power of attorney filed account that included $480,515 in gifts to family, which sister of agent (and one of two beneficiaries under decedent’s will) objected to gifts as beyond the Agent’s power and under Section 5601.2(e) pertaining to … Continue reading
Under a power of attorney, the agent did not keep records of disbursements and receipts; after reconstructing an account, the court surcharged the agent $11,207 for (1) half of property improvements on property jointly owned between principal and agent (for … Continue reading
Agent under power of attorney was compelled to account, which he did, and then filed an action for declaratory judgment that all actions against him for his agency were barred by the statute of limitations, to which the court dismissed; … Continue reading
Daughter who had been disinherited by the principal did not have standing to object to the account of the agent for the principal who was living, was not alleged to be incapacitated, and filed an affidavit in support of the … Continue reading
Agent of decedent did not have power to liquidate decedent’s annuity during decedent’s lifetime and transfer the proceeds to himself, but the restored annuity remained a non-probate asset and so was still the property of the agent as the named … Continue reading