§ 81.21 Powers of guardian; property management.\n (a) Consistent with the functional limitations of the incapacitated\nperson, that person's understanding and appreciation of the harm that he\nor she is likely to suffer as the result of the inability to manage\nproperty and financial affairs, and that person's personal wishes,\npreferences, and desires with regard to managing the activities of daily\nliving, and the least restrictive form of intervention, the court may\nauthorize the guardian to exercise those powers necessary and sufficient\nto manage the property and financial affairs of the incapacitated\nperson; to provide for the maintenance and support of the incapacitated\nperson, and those persons depending upon the incapacitated person; to\ntransfer a part of the incapacitated person's assets to or for the\nbenefit of another person on the ground that the incapacitated person\nwould have made the transfer if he or she had the capacity to act.\n Transfers made pursuant to this article may be in any form that the\nincapacitated person could have employed if he or she had the requisite\ncapacity, except in the form of a will or codicil.\n Those powers which may be granted include, but are not limited to, the\npower to:\n 1. make gifts;\n 2. provide support for persons dependent upon the incapacitated person\nfor support, whether or not the incapacitated person is legally\nobligated to provide that support;\n 3. convey or release contingent and expectant interests in property,\nincluding marital property rights and any right of survivorship\nincidental to joint tenancy or tenancy by the entirety;\n 4. exercise or release powers held by the incapacitated person as\ntrustee, personal representative, guardian for minor, guardian, or donee\nof a power of appointment;\n 5. enter into contracts;\n 6. create revocable or irrevocable trusts of property of the estate\nwhich may extend beyond the incapacity or life of the incapacitated\nperson;\n 7. exercise options of the incapacitated person to purchase securities\nor other property;\n 8. exercise rights to elect options and change beneficiaries under\ninsurance and annuity policies and to surrender the policies for their\ncash value;\n 9. exercise any right to an elective share in the estate of the\nincapacitated person's deceased spouse;\n 10. renounce or disclaim any interest by testate or intestate\nsuccession or by inter vivos transfer consistent with paragraph (d) of\nsection 2-1.11 of the estates, powers and trusts law;\n 11. authorize access to or release of confidential records;\n 12. apply for government and private benefits;\n 13. marshall assets;\n 14. pay the funeral expenses of the incapacitated person;\n 15. pay such bills as may be reasonably necessary to maintain the\nincapacitated person;\n 16. invest funds of the incapacitated person as permitted by section\n11-2.3 of the estates, powers and trusts law;\n 17. lease the primary residence for up to three years;\n 18. retain an accountant;\n 19. pay bills after the death of the incapacitated person provided the\nauthority existed to pay such bills prior to death until a temporary\nadministrator or executor is appointed; and\n 20. defend or maintain any judicial action or proceeding to a\nconclusion until an executor or administrator is appointed.\n The guardian may also be granted any power pursuant to this\nsubdivision granted to committees and conservators and guardians by\nother statutes subject to the limitations, conditions, and\nresponsibilities of the exercise thereof unless the granting of such\npower is inconsistent with the provisions of this article.\n (b) If the petitioner or the guardian seeks the authority to exercise\na power which involves the transfer of a part of the incapacitated\nperson's assets to or for the benefit of another person, including the\npetitioner or guardian, the petition shall include the following\ninformation:\n 1. whether any prior proceeding has at
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