HB05215 Summary

• Enacts the Connecticut Uniform Power of Attorney Act effective October 1, 2014, establishing comprehensive statutory standards for powers of attorney including definitions, execution requirements, agent duties, and termination provisions.

• Requires powers of attorney to be dated, signed by the principal (or another directed to sign), and witnessed by two witnesses; signatures acknowledged before a notary are presumed genuine.

• Makes powers of attorney durable by default (continuing despite principal's incapacity) unless expressly stated otherwise, and allows springing powers that become effective upon future events or the principal's incapacity.

• Establishes detailed agent fiduciary duties including acting in principal's best interest, maintaining records, avoiding conflicts of interest, and preserving the estate plan; agents can be held liable for violations and must restore property value plus attorney's fees.

• Authorizes agents to manage real property, personal property, financial accounts, business operations, insurance, taxes, retirement plans, and make gifts (subject to federal gift tax exclusion limits) only when expressly granted in the power of attorney.