Unless the power of attorney document expressly authorizes gifts, an attorney-in-fact, in exercising his fiduciary responsibilities to the principal, may not make a gift to himself or to a third-party of the money or property which is the subject of the agency relationship. Such a gift carries with it a presumption of impropriety and self-dealing, and the presumption can be overcome only with the clearest showing of the principal's intention to make the gift. Any gifts of the principal's assets must be in the best interest of the principal.
Choudhari v. Choudhari, NY Slip Op 05245 (2d Dep't October 18, 2023)
