§ 75-5-503. Power of attorney -- Prohibitions and restrictions.

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A power of attorney may not be construed to grant authority to an attorney-in-fact or agent to perform any of the following, unless expressly authorized in the power of attorney:

(1) create, modify, or revoke an inter vivos revocable trust created by the principal;

(2) fund, with the principal's property, a trust not created by the principal or by a person authorized to create a trust on behalf of the principal;

(3) make or revoke a gift of the principal's property, in trust or otherwise; or

(4) designate or change the designation of beneficiaries to receive any property, benefit, or contract right on the principal's death.

Enacted by Chapter 241, 2003 General Session

                    
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