Kentucky Statutes 457.080 – Nomination of conservator or guardian — Relation of agent to court-appointed fiduciary
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(1) In a power of attorney, a principal may nominate a limited conservator, conservator, limited guardian, or guardian of the principal’s estate or a limited guardian or guardian of the principal’s person for consideration by the court if protective proceedings for the principal’s estate or person are begun after the principal executes the power of attorney. As outlined in KRS § 387.600, the nomination shall be treated as an indication of the principal’s preference as to the person or entity to be appointed as his or her limited conservator, conservator, limited guardian, or guardian, and the court shall give the preference due consideration.
(2) If, after a principal executes a power of attorney, a court appoints a limited conservator, conservator, limited guardian, or guardian of the principal’s estate or other fiduciary charged with the management of some or all of the principal’s property, the power of attorney shall terminate unless the court specifically provides that it shall remain in effect.
Effective: July 14, 2018
History: Created 2018 Ky. Acts ch. 185, sec. 8, effective July 14, 2018.
(2) If, after a principal executes a power of attorney, a court appoints a limited conservator, conservator, limited guardian, or guardian of the principal’s estate or other fiduciary charged with the management of some or all of the principal’s property, the power of attorney shall terminate unless the court specifically provides that it shall remain in effect.
Terms Used In Kentucky Statutes 457.080
- Attorney: means attorney-at-law. See Kentucky Statutes 446.010
- Fiduciary: A trustee, executor, or administrator.
- Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
- Person: means an individual, corporation, business trust, estate, trust, partnership, limited liability company, association, joint venture, public corporation, government or governmental subdivision, agency, or instrumentality, or any other legal or commercial entity. See Kentucky Statutes 457.020
- Power of attorney: means a writing or other record that grants authority to an agent to act in the place of the principal, whether or not the term power of attorney is used. See Kentucky Statutes 457.020
- 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
- Principal: means an individual who grants authority to an agent in a power of attorney. See Kentucky Statutes 457.020
- Property: means anything that may be the subject of ownership, whether real or personal, or legal or equitable, or any interest or right therein. See Kentucky Statutes 457.020
Effective: July 14, 2018
History: Created 2018 Ky. Acts ch. 185, sec. 8, effective July 14, 2018.