AN ACT relating to power of attorney. Establish KRS Chapter 457 to adopt portions of the Uniform Power of Attorney Act of 2006; establish definitions for the chapter; provide that the chapter shall apply to all powers of attorney except for certain exceptions; provide that powers of attorney are durable and for their execution; provide a choice-of-law rule for determining the law that governs the meaning and effect of the power of attorney; detail the relationship between a power of attorney and a conservator or guardian; outline when a power of attorney becomes effective; detail when a power of attorney terminates; establish default rules for coagents and successor agents; allow for the reimbursement and compensation of an agent; detail how an agent accepts his or her appointment; outline an agent's duties; provide that a principal can lower the standard of liability for an agent with a few exceptions; establish a list of persons that may petition the court to review the agent's conduct; address when an agent is liable; detail how an agent can resign; provide protections for persons who accept a power of attorney in good faith; impose liability for refusal to accept a power of attorney; clarify that the principles of law and equity supplement the chapter unless displaced by a provision of the chapter; provide that the remedies under the chapter are not exclusive and do not abrogate any other cause of action or remedy; amend KRS 367.93103, relating to funeral planning declarations, to clarify that a funeral declaration included in a will or power of attorney does not invalidate the will or power of attorney; amend KRS 372.140 and 387.530 to conform; repeal KRS 386.093, relating to the effect of incapacity or death on a power of attorney.

It became law on Apr 26, 2018.

KY HB 11 · House Bill · 2018RS