§ 34-6-110. Gifts under power of attorney.

TN Code § 34-6-110 (2019) (N/A)

Copy with citation

Copy as parenthetical citation

(a) If any power of attorney or other writing:

(1) Authorizes an attorney-in-fact or other agent to do, execute or perform any act that the principal might or could do; or

(2) Evidences the principal's intent to give the attorney-in-fact or agent full power to handle the principal's affairs or to deal with the principal's property;

(b) If subsection (a) does not apply, an attorney-in-fact or other agent acting under a durable general power of attorney or other writing may petition a court of the principal's domicile for authority to make gifts of the principal's property to the extent not inconsistent with the express terms of the power of attorney or other writing. The court shall determine the amounts, recipients and proportions of any gifts of the principal's property after considering all relevant factors including, without limitation:

(1) The value and nature of the assets of the principal's estate;

(2) The principal's foreseeable obligations and maintenance needs;

(3) The principal's existing estate plan; and

(4) The gift and estate tax effects of the gifts.

(c) This section is declaratory of existing law in this state; provided, that this section shall not be construed as authorizing the refund of any taxes imposed by title 67, chapter 8.

Previous Section

§ 34-6-109. Attorney in fact -- Powers.

Next Section

§ 34-6-111. Access to medical information by personal representative for limited purpose of determining disability or incapacity when effective date of power of attorney deferred.