New Hampshire Revised Statutes 564-E:201 – Authority That Requires Specific Grant; Grant of General Authority
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(a) An agent under a power of attorney may do the following on behalf of the principal or with the principal’s property only if the power of attorney expressly grants the agent the authority and exercise of the authority is not otherwise prohibited by another agreement or instrument to which the authority or property is subject:
(1) create, amend, revoke, or terminate an inter vivos trust;
(2) make a gift, except the agent may not make a gift that will leave the principal without sufficient assets or income to provide for the principal’s care without relying on Medicaid, other public assistance or charity unless the power of attorney expressly grants such authority or unless the gift is approved in advance by the court upon a determination that the gift is authorized in accordance with N.H. Rev. Stat. § 564-E:116(g);
(3) create or change rights of survivorship;
(4) create or change a beneficiary designation;
(5) delegate authority granted under the power of attorney;
(6) waive the principal’s right to be a beneficiary of a joint and survivor annuity, including a survivor benefit under a retirement plan;
(7) exercise a fiduciary power that the principal has authority to delegate to the extent that the principal specifically and expressly delegates such power to the agent; or
(8) exercise authority over the content of electronic communications sent or received by the principal pursuant to N.H. Rev. Stat. § 554-A:9.
(b) Notwithstanding a grant of authority to do an act described in subsection (a):
(1) an agent may not exercise authority under a power of attorney to create in the agent, or in an individual to whom the agent owes a legal obligation of support, an interest in the principal’s property by gift unless the power of attorney otherwise provides or unless the gift is approved in advance by the court upon a determination that the gift is authorized in accordance with N.H. Rev. Stat. § 564-E:116(g); and
(2) an agent (other than an agent that is an ancestor, spouse, or descendant of the principal) may not exercise authority under a power of attorney to create in the agent, or in an individual to whom the agent owes a legal obligation of support, an interest in the principal’s property by any manner other than a gift, including, without limitation, by right of survivorship, beneficiary designation, or disclaimer, unless the power of attorney otherwise provides.
(c) Subject to subsections (a), (b), (d), and (e), if a power of attorney grants to an agent authority to do all acts that a principal could do, the agent has the general authority described in N.H. Rev. Stat. § 564-E:204 through N.H. Rev. Stat. § 564-E:216.
(d) Unless the power of attorney otherwise provides, a grant of authority to make a gift is subject to N.H. Rev. Stat. § 564-E:217.
(e) Subject to subsections (a), (b), and (d), if the subjects over which authority is granted in a power of attorney are similar or overlap, the broadest authority controls.
(f) Authority granted in a power of attorney is exercisable with respect to property that the principal has when the power of attorney is executed or acquires later, whether or not the property is located in this state and whether or not the authority is exercised or the power of attorney is executed in this state.
(g) An act performed by an agent pursuant to a power of attorney has the same effect and inures to the benefit of and binds the principal and the principal’s successors in interest as if the principal had performed the act.
(1) create, amend, revoke, or terminate an inter vivos trust;
Terms Used In New Hampshire Revised Statutes 564-E:201
- Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Charity: An agency, institution, or organization in existence and operating for the benefit of an indefinite number of persons and conducted for educational, religious, scientific, medical, or other beneficent purposes.
- Fiduciary: A trustee, executor, or administrator.
- following: when used by way of reference to any section of these laws, shall mean the section next preceding or following that in which such reference is made, unless some other is expressly designated. See New Hampshire Revised Statutes 21:13
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- Inter vivos: Transfer of property from one living person to another living person.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. Source: OCC
- Right of survivorship: The ownership rights that result in the acquisition of title to property by reason of having survived other co-owners.
- state: when applied to different parts of the United States, may extend to and include the District of Columbia and the several territories, so called; and the words "United States" shall include said district and territories. See New Hampshire Revised Statutes 21:4
(2) make a gift, except the agent may not make a gift that will leave the principal without sufficient assets or income to provide for the principal’s care without relying on Medicaid, other public assistance or charity unless the power of attorney expressly grants such authority or unless the gift is approved in advance by the court upon a determination that the gift is authorized in accordance with N.H. Rev. Stat. § 564-E:116(g);
(3) create or change rights of survivorship;
(4) create or change a beneficiary designation;
(5) delegate authority granted under the power of attorney;
(6) waive the principal’s right to be a beneficiary of a joint and survivor annuity, including a survivor benefit under a retirement plan;
(7) exercise a fiduciary power that the principal has authority to delegate to the extent that the principal specifically and expressly delegates such power to the agent; or
(8) exercise authority over the content of electronic communications sent or received by the principal pursuant to N.H. Rev. Stat. § 554-A:9.
(b) Notwithstanding a grant of authority to do an act described in subsection (a):
(1) an agent may not exercise authority under a power of attorney to create in the agent, or in an individual to whom the agent owes a legal obligation of support, an interest in the principal’s property by gift unless the power of attorney otherwise provides or unless the gift is approved in advance by the court upon a determination that the gift is authorized in accordance with N.H. Rev. Stat. § 564-E:116(g); and
(2) an agent (other than an agent that is an ancestor, spouse, or descendant of the principal) may not exercise authority under a power of attorney to create in the agent, or in an individual to whom the agent owes a legal obligation of support, an interest in the principal’s property by any manner other than a gift, including, without limitation, by right of survivorship, beneficiary designation, or disclaimer, unless the power of attorney otherwise provides.
(c) Subject to subsections (a), (b), (d), and (e), if a power of attorney grants to an agent authority to do all acts that a principal could do, the agent has the general authority described in N.H. Rev. Stat. § 564-E:204 through N.H. Rev. Stat. § 564-E:216.
(d) Unless the power of attorney otherwise provides, a grant of authority to make a gift is subject to N.H. Rev. Stat. § 564-E:217.
(e) Subject to subsections (a), (b), and (d), if the subjects over which authority is granted in a power of attorney are similar or overlap, the broadest authority controls.
(f) Authority granted in a power of attorney is exercisable with respect to property that the principal has when the power of attorney is executed or acquires later, whether or not the property is located in this state and whether or not the authority is exercised or the power of attorney is executed in this state.
(g) An act performed by an agent pursuant to a power of attorney has the same effect and inures to the benefit of and binds the principal and the principal’s successors in interest as if the principal had performed the act.