Section 709.2114 - Agent's duties(1) An agent is a fiduciary. Notwithstanding the provisions in the power of attorney, an agent who has accepted appointment: (a) Must act only within the scope of authority granted in the power of attorney. In exercising that authority, the agent:1. May not act contrary to the principal's reasonable expectations actually known by the agent;2. Must act in good faith;3. May not act in a manner that is contrary to the principal's best interest, except as provided in paragraph (2)(d) and s. 709.2202; and4. Must attempt to preserve the principal's estate plan, to the extent actually known by the agent, if preserving the plan is consistent with the principal's best interest based on all relevant factors, including:a. The value and nature of the principal's property;b. The principal's foreseeable obligations and need for maintenance;c. Minimization of taxes, including income, estate, inheritance, generation-skipping transfer, and gift taxes;d. Eligibility for a benefit, a program, or assistance under a statute or rule; ande. The principal's personal history of making or joining in making gifts;(b) May not delegate authority to a third person except as authorized under s. 518.112 or this part or by executing a power of attorney on a form prescribed by a government or governmental subdivision, agency, or instrumentality for a governmental purpose;(c) Must keep a record of all receipts, disbursements, and transactions made on behalf of the principal; and(d) Must create and maintain an accurate inventory each time the agent accesses the principal's safe-deposit box, if the power of attorney authorizes the agent to access the box.(2) Except as otherwise provided in the power of attorney, an agent who has accepted appointment shall: (a) Act loyally for the sole benefit of the principal;(b) Act so as not to create a conflict of interest that impairs the agent's ability to act impartially in the principal's best interest;(c) Act with the care, competence, and diligence ordinarily exercised by agents in similar circumstances; and(d) Cooperate with a person who has authority to make health care decisions for the principal in order to carry out the principal's reasonable expectations to the extent actually known by the agent and, otherwise, act in the principal's best interest.(3) An agent who acts in good faith is not liable to any beneficiary of the principal's estate plan for failure to preserve the plan.(4) If an agent is selected by the principal because of special skills or expertise possessed by the agent or in reliance on the agent's representation that the agent has special skills or expertise, the special skills or expertise must be considered in determining whether the agent has acted with care, competence, and diligence under the circumstances.(5) Absent a breach of duty to the principal, an agent is not liable if the value of the principal's property declines.(6) Except as otherwise provided in the power of attorney, an agent is not required to disclose receipts, disbursements, transactions conducted on behalf of the principal, or safe-deposit box inventories, unless ordered by a court or requested by the principal, a court-appointed guardian, another fiduciary acting for the principal, a governmental agency having authority to protect the welfare of the principal, or, upon the death of the principal, by the personal representative or successor in interest of the principal's estate. If requested, the agent must comply with the request within 60 days or provide a writing or other record substantiating why additional time is needed and comply with the request within an additional 60 days.s. 16, ch. 2011-210; s. 5, ch. 2013-90.Amended by 2013 Fla. Laws, ch. 90, s 5, eff. 5/30/2013.