Maryland Statutory Form - Limited Power Of Attorney Template Page 16
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20(3)
Minimization of taxes, including income, estate, inheritance,
generation–skipping transfer, and gift taxes;
(4)
Eligibility for a benefit, a program, or assistance under a statute or
regulation; and
(5)
The principal’s personal history of making or joining in making gifts.)
(___) All of the above
GRANT OF SPECIFIC AUTHORITY (OPTIONAL)
My agent MAY NOT do any of the following specific acts for me UNLESS I have
INITIALED the specific authority listed below:
(CAUTION: Granting any of the following will give your agent the authority to
take actions that could significantly reduce your property or change how your property
is distributed at your death. In addition, granting your agent the authority to make
gifts to, or to designate as the beneficiary of any retirement plan, the agent, the agent’s
spouse, or a dependent of the agent may constitute a taxable gift by you and may make
the property subject to that authority taxable as part of the agent’s estate. INITIAL
ONLY the specific authority you WANT to give your agent.)
(___) Create an inter vivos trust, or amend, revoke, or terminate an existing inter
vivos trust if the trust expressly authorizes that action by the agent
(___) Make a gift, subject to any special instructions in this power of attorney
(___) Create or change rights of survivorship
(___) Create or change a beneficiary designation, subject to any special
instructions in this power of attorney; and, if I wish to authorize my agent to designate
the agent, the agent’s spouse, or a dependent of the agent as a beneficiary, I will
explicitly state this authority within the special instructions of this power of attorney
or in a separate power of attorney
(___) Authorize another person to exercise the authority granted under this power
of attorney
(___) Waive the principal’s right to be a beneficiary of a joint and survivor annuity,
including a survivor benefit under a retirement plan
(___) Exercise fiduciary powers that the principal has authority to delegate
(___) Disclaim or refuse an interest in property, including a power of appointment
LIMITATION ON AGENT’S AUTHORITY
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