Title 12 — Decedents’ Estates and Fiduciary Relations
35 chapters · 275 sections in this title.
12 Del. C. § 4522. Effect on existing custodianships.
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§ 4522. Effect on existing custodianships. (a) Any transfer of custodial property, as now defined in this chapter, made before June 26, 1996, is validated notwithstanding that there was no specific authority in the Delaware Uniform Gifts to Minors Act for the coverage of custodia…
12 Del. C. § 4523. Short title.
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§ 4523. Short title. This chapter may be cited as the “Delaware Uniform Transfers to Minors Act.”70 Del. Laws, c. 393, § 1;
12 Del. C. § 4701. Short title.
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§ 4701. Short title. This chapter may be cited as the “Uniform Prudent Management of Institutional Funds Act.”59 Del. Laws, c. 572, § 1; 76 Del. Laws, c. 159, § 1;
12 Del. C. § 4702. Definitions.
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§ 4702. Definitions. In this chapter: (1) “Charitable purpose” means the relief of poverty, the advancement of education or religion, the promotion of health, the promotion of a governmental purpose, or any other purpose the achievement of which is beneficial to the community. (2…
12 Del. C. § 4703. Standard of conduct in managing and investing institutional fund.
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§ 4703. Standard of conduct in managing and investing institutional fund. (a) Subject to the intent of a donor expressed in a gift instrument, an institution, in managing and investing an institutional fund, shall consider the charitable purposes of the institution and the purpos…
12 Del. C. § 4704. Appropriation for expenditure or accumulation of endowment fund; rules of construction.
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§ 4704. Appropriation for expenditure or accumulation of endowment fund; rules of construction. (a) Subject to the intent of a donor expressed in the gift instrument, an institution may appropriate for expenditure or accumulate so much of an endowment fund as the institution dete…
12 Del. C. § 4705. Delegation of management and investment functions.
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§ 4705. Delegation of management and investment functions. (a) Subject to any specific limitation set forth in a gift instrument or in law other than this chapter, an institution may delegate to an external agent the management and investment of an institutional fund to the exten…
12 Del. C. § 4706. Release or modification of restrictions on management, investment, or purpose.
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§ 4706. Release or modification of restrictions on management, investment, or purpose. (a) If the donor consents in a record, an institution may release or modify, in whole or in part, a restriction contained in a gift instrument on the management, investment, or purpose of an in…
12 Del. C. § 4707. Reviewing compliance.
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§ 4707. Reviewing compliance. Compliance with this chapter is determined in light of the facts and circumstances existing at the time a decision is made or action is taken, and not by hindsight.59 Del. Laws, c. 572, § 1; 70 Del Laws, c. 186,, § 1; 76 Del. Laws, c. 159, § 1;
12 Del. C. § 4708. Application to existing institutional funds.
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§ 4708. Application to existing institutional funds. This chapter applies to institutional funds existing on or established after July 31, 2007. As applied to institutional funds existing on July 31, 2007, this chapter governs only decisions made or actions taken on or after that…
12 Del. C. § 4709. Relation to Electronic Signatures in Global and National Commerce Act.
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§ 4709. Relation to Electronic Signatures in Global and National Commerce Act. This chapter modifies, limits, and supersedes the Electronic Signatures in Global and National Commerce Act, 15 U.S.C. § 7001 et seq., but does not modify, limit, or supersede Section 101 of that act, …
12 Del. C. § 4710. Applicability and construction.
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§ 4710. Applicability and construction. This chapter shall apply solely to trusts and estates included within the meaning of the terms “institution,” “institutional fund” and “person” as used under this chapter and no part of this chapter shall apply to, or affect, the validity, …
12 Del. C. § 4901. Defined.
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§ 4901. Defined. A durable power of attorney is a power of attorney by which a principal designates another agent in writing, and the writing contains the words: “This power of attorney shall not be affected by subsequent disability or incapacity of the principal,” or “This power…
12 Del. C. § 4902. Power not affected by disability.
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§ 4902. Power not affected by disability. All acts done by an agent pursuant to a durable power of attorney during any period of disability or incapacity of the principal have the same effect and inure to the benefit of and by the principal, and the principal’s successors in inte…
12 Del. C. § 4903. Relation of agent to court-appointed fiduciary.
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§ 4903. Relation of agent to court-appointed fiduciary. (a) The appointment of a guardian or other fiduciary charged with the management of the principal’s property or the care of the principal’s person shall terminate all powers of attorney created pursuant to this chapter to th…
12 Del. C. § 4904. Death, disability or incapacity of principal.
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§ 4904. Death, disability or incapacity of principal. (a) The death of a principal who has executed a written power of attorney, durable or otherwise, does not revoke nor terminate the agency as to the agent, or other person who, without actual knowledge of the death of the princ…
12 Del. C. § 4905. Exercise of power after revocation.
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§ 4905. Exercise of power after revocation. As to acts undertaken in good faith reliance thereon, an affidavit executed by the agent under a power of attorney, durable or otherwise, stating that the agent did not have at the time of exercise of the power actual knowledge of the t…
12 Del. C. § 4906. Relation of this chapter to Chapter 49A of this title.
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§ 4906. Relation of this chapter to Chapter 49A of this title. The provisions of this chapter shall not apply to any personal power of attorney governed by Chapter 49A of this title.77 Del. Laws, c. 467, § 3;
12 Del. C. § 5001. Short title.
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§ 5001. Short title. This chapter may be cited as the “Fiduciary Access to Digital Assets and Digital Accounts Act.”79 Del. Laws, c. 416, § 1;
12 Del. C. § 5002. Definitions.
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§ 5002. Definitions. As used in this chapter: (1) “Account holder” means a decedent, a disabled person pursuant to Chapter 39 of this title, a principal of a durable personal power of attorney pursuant to Chapter 49A of this title, a settlor of a trust which was revocable until t…
12 Del. C. § 5003. Applicability.
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§ 5003. Applicability. This chapter applies to a grant of authority to a fiduciary over a digital account or a digital asset. Digital assets and digital accounts of an employer regularly used by an employee or contractor in the usual course of business are not subject to the prov…
12 Del. C. § 5004. Control of digital accounts and digital assets by a fiduciary.
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§ 5004. Control of digital accounts and digital assets by a fiduciary. (a) Except as otherwise provided by a governing instrument or court order, a fiduciary may exercise control over any and all rights in digital assets and digital accounts of an account holder, to the extent pe…
12 Del. C. § 5005. Recovery of digital assets and digital accounts from a custodian.
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§ 5005. Recovery of digital assets and digital accounts from a custodian. (a) A fiduciary with authority over digital assets or digital accounts of an account holder under this chapter shall have the same access as the account holder, and is deemed to: (1) Have the lawful consent…
12 Del. C. § 5006. Custodian immunity.
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§ 5006. Custodian immunity. (a) Except as otherwise provided in subsection (b) of this section: (1) A custodian shall accept a valid written request that complies on its face with the requirements of § 5005 of this title; (2) A custodian shall accept a valid written request that …
12 Del. C. § 5007. Relation to Electronic Signatures in Global and National Commerce Act.
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§ 5007. Relation to Electronic Signatures in Global and National Commerce Act. This chapter modifies, limits, or supersedes the federal Electronic Signatures in Global and National Commerce Act, 15 U.S.C. § 7001, et seq., but does not modify, limit, or supersede § 101(c) of that …