Sec. 2. (a) An attorney in fact who acts with due care for the benefit of the principal is not liable or limited only because the attorney in fact:

(1) also benefits from the act;

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Terms Used In Indiana Code 30-5-9-2

  • Attorney: includes a counselor or other person authorized to appear and represent a party in an action or special proceeding. See Indiana Code 1-1-4-5
  • Bequest: Property gifted by will.
  • Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
  • 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
  • Property: includes personal and real property. See Indiana Code 1-1-4-5
(2) has individual or conflicting interests in relation to the property, care, or affairs of the principal; or

(3) acts in a different manner with respect to the principal’s and the attorney in fact’s individual interests.

     (b) A gift, bequest, transfer, or transaction is not presumed to be valid or invalid if the gift, bequest, transfer, or transaction:

(1) is:

(A) made by the principal taking action; and

(B) not made by an attorney in fact acting for the principal under a power of attorney; and

(2) benefits the principal’s attorney in fact.

As added by P.L.149-1991, SEC.2. Amended by P.L.238-2005, SEC.52.