Source: L. 2009: Entire part added, (HB 09-1198), ch. 106, p. 387, § 1, effective April 9.
Section 15-14-708(2) is a departure from the Uniform Durable Power of Attorney Act which gave a court-appointed fiduciary the same power to revoke or amend a power of attorney as the principal would have if not incapacitated. See Unif. Durable Power of Atty. Act § 3(a) (1987). In contrast, this Act gives deference to the principal's choice of agent by providing that the agent's authority continues, notwithstanding the later court appointment of a fiduciary, unless the court acts to limit or terminate the agent's authority. This approach assumes that the later-appointed fiduciary's authority should supplement, not truncate, the agent's authority. If, however, a fiduciary appointment is required because of the agent's inadequate performance or breach of fiduciary duties, the court, having considered this evidence during the appointment proceedings, may limit or terminate the agent's authority contemporaneously with appointment of the fiduciary. Section 15-14-708(2) is consistent with the state legislative trend that has departed from the Uniform Durable Power of Attorney Act. See, e.g., 755 Ill. Comp. Stat. Ann. 45/2-10 (West 1992); Ind. Code Ann. § 30-5-3-4 (West 1994); Kan. Stat. Ann. § 58-662 (2005); Mo. Ann. Stat. § 404.727 (West 2001); N.J. Stat. Ann. § 46:2B-8.4 (West 2003); N.M. Stat. Ann. § 45-5-503A (LexisNexis 2004); Utah Code Ann. § 75- 5-501 (Supp. 2006); Vt. Stat. Ann. tit. 14, § 3509(a) (2002); Va. Code Ann. § 11-9.1B (2006). Section 15-14-708(2) is also consistent with the Uniform Health-Care Decisions Act § 6(a) (1993), which provides that a guardian may not revoke the ward's advance health-care directive unless the court appointing the guardian expressly so authorizes. Furthermore, it is consistent with the Uniform Guardianship and Protective Proceedings Act (1997), which provides that a guardian or conservator may not revoke the ward's or protected person's power of attorney for health-care or financial management without first obtaining express authority of the court. See Unif. Guardianship & Protective Proc. Act § 316(c) (guardianship), § 411(d) (protective proceedings).
Deference for the principal's autonomous choice is evident both in the presumption that an agent's authority continues unless limited or terminated by the court, and in the directive that the court shall appoint a fiduciary in accordance with the principal's most recent nomination ( see subsection (1)). Typically, a principal will nominate as conservator or guardian the same individual named as agent under the power of attorney. Favoring the principal's choice of agent and nominee, an approach consistent with most statutory hierarchies for guardian selection ( see Unif. Guardianship & Protective Proc. Act § 310(a)(2) (1997)), also discourages guardianship petitions filed for the sole purpose of thwarting the agent's authority to gain control over a vulnerable principal. See Unif. Guardianship & Protective Proc. Act § 310 cmt. (1997). See also Linda S. Ershow-Levenberg, When Guardianship Actions Violate the Constitutionally-Protected Right of Privacy , NAELA News, Apr. 2005, at 1 (arguing that appointment of a guardian when there is a valid power of attorney in place violates the alleged incapacitated person's constitutionally protected rights of privacy and association).
Structure Colorado Code
Title 15 - Probate, Trusts, and Fiduciaries
Article 14 - Persons Under Disability - Protection
Part 7 - Uniform Power of Attorney Act
§ 15-14-704. Power of Attorney Is Durable
§ 15-14-705. Execution of Power of Attorney
§ 15-14-706. Validity of Power of Attorney
§ 15-14-707. Meaning and Effect of Power of Attorney
§ 15-14-708. Nomination of Conservator or Guardian - Relation of Agent to Court-Appointed Fiduciary
§ 15-14-709. When Power of Attorney Effective
§ 15-14-710. Termination of Power of Attorney or Agent's Authority
§ 15-14-711. Coagents and Successor Agents
§ 15-14-712. Reimbursement and Compensation of Agent
§ 15-14-713. Agent's Acceptance
§ 15-14-715. Exoneration of Agent
§ 15-14-717. Agent's Liability
§ 15-14-718. Agent's Resignation - Notice
§ 15-14-719. Acceptance of and Reliance Upon Acknowledged Power of Attorney
§ 15-14-720. Liability for Refusal to Accept Acknowledged Power of Attorney
§ 15-14-721. Principles of Law and Equity
§ 15-14-722. Laws Applicable to Financial Institutions and Entities
§ 15-14-723. Remedies Under Other Law
§ 15-14-724. Authority That Requires Specific Grant - Grant of General Authority
§ 15-14-725. Incorporation of Authority - Incorporation by Reference
§ 15-14-726. Construction of Authority Generally
§ 15-14-728. Tangible Personal Property
§ 15-14-730. Commodities and Options
§ 15-14-731. Banks and Other Financial Institutions
§ 15-14-732. Operation of Entity or Business
§ 15-14-733. Insurance and Annuities
§ 15-14-734. Estates, Trusts, and Other Beneficial Interests
§ 15-14-735. Claims and Litigation
§ 15-14-736. Personal and Family Maintenance
§ 15-14-737. Benefits From Governmental Programs or Civil or Military Service
§ 15-14-741. Statutory Form - Power of Attorney
§ 15-14-743. Uniformity of Application and Construction
§ 15-14-744. Relation to "Electronic Signatures in Global and National Commerce Act"