An attorney-in-fact under a power of attorney may perform any of the following acts on behalf of the principal or with the property of the principal only if the power of attorney expressly grants that authority to the attorney-in-fact:
(a) Create, modify, revoke, or terminate a trust, in whole or in part. If a power of attorney under this division empowers the attorney-in-fact to modify or revoke a trust created by the principal, the trust may be modified or revoked by the attorney-in-fact only as provided in the trust instrument.
(b) Fund with the principal’s property a trust not created by the principal or a person authorized to create a trust on behalf of the principal.
(c) Make or revoke a gift of the principal’s property in trust or otherwise.
(d) Exercise the right to reject, disclaim, release, or consent to a reduction in, or modification of, a share in, or payment from, an estate, trust, or other fund on behalf of the principal. This subdivision does not limit the attorney-in-fact’s authority to disclaim a detrimental transfer to the principal with the approval of the court.
(e) Create or change survivorship interests in the principal’s property or in property in which the principal may have an interest.
(f) Designate or change the designation of beneficiaries to receive any property, benefit, or contract right on the principal’s death.
(g) Make a loan to the attorney-in-fact.
(Amended by Stats. 2011, Ch. 113, Sec. 2. (AB 1082) Effective January 1, 2012.)