CA SB1038

Removes the exemption that previously protected unpaid attorneys-in-fact from liability for losses to a principal's property except in cases of bad faith, intentional wrongdoing, or gross negligence.

Establishes that attorneys-in-fact who breach duties are liable for any loss or depreciation in property value, any profits made through the breach, and any profits that would have accrued to the principal, with interest.

Allows courts discretionary authority to excuse an attorney-in-fact from liability if they acted reasonably and in good faith under the circumstances.

Imposes double damages liability if a court finds an attorney-in-fact acted in bad faith in wrongfully taking, concealing, or disposing of the principal's property.

Maintains existing standards requiring attorneys-in-fact to observe the care of a prudent person, or the care of similarly skilled professionals if designated based on special expertise.