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Agreements designed to grant privileges over financial holdings allow for adjustment to cover a broad or narrow spectrum of categories depending on the needs of the declarant. A durable POA can provide an additional range, bestowing permissions that remain in effect should the principal become incapacitated. An advance directive (medical POA and living will) can be utilized to predetermine desired healthcare treatment preferences and nominate an attorney-in-fact to speak on behalf of the principal party if they can no longer communicate their wishes. Make sure to execute the document(s) as directed below to ensure legal standing.
Laws
Statutes – Consolidated Laws of New York – Chapter 24A – Article 5 – Statutory Short Form and Other Powers of Attorney For Financial and Estate Planning (§ 5-1501 – 5-1514) and Consolidated Laws of New York – Chapter 45 – Article 29C – Health Care Agents and Proxies (§ 29C-2980 – 29C-2994)
Definition – “Power of attorney” means a written document, other than a document referred to in section 5-1501C of this title, by which a principal with capacity designates an agent to act on his or her behalf and includes both a statutory short form power of attorney and a non-statutory power of attorney (§ 5-1501(j)).
Signing Requirements – Finalizing the provided agreements requires confirming endorsements from a notary and two (2) acceptable witnesses (§ 5-1501B). POAs related to health care will not need a notary present to corroborate the event, but two (2) witnesses must be made available to certify the transaction at the time of signing (§ 29C-2981.2).
Revocation – § 5-1511 and § 29C-2985
By Type (11)
- Advance Directive (Medical POA & Living Will)
- Durable (Financial) Power of Attorney
- General (Financial) Power of Attorney
- Limited (Special) Power of Attorney
- Living Will
- Medical Power of Attorney
- Minor Child Power of Attorney
- Motor Vehicle Power of Attorney
- Real Estate Power of Attorney
- Revocation of Power of Attorney
- Tax Power of Attorney
Advance Directive (Medical POA & Living Will) – Consolidates a medical power of attorney and a living will to make predetermined health care selections as a preventative measure.
Download: PDF
Signing Requirements: Acknowledgement by two (2) witnessing individuals is required.
Durable (Financial) Power of Attorney – Grants power(s) to a designated agent to act in place of another for stipulated financial, insurance, tax, or legal matters. The durability provision causes the agreement to remain enforceable even if the principal becomes incapacitated.
Download: PDF, Word (.docx)
Signing Requirements: Acknowledgment by mandate of the state of NY will necessitate corroboration from two (2) non-participant witnesses and one notary official.
General (Financial) Power of Attorney – Enacts an accord for an owning principal to issue powers to another for defined financial action(s)
Download: PDF, Word (.docx)
Signing Requirements: All signatures must be acknowledged with the aid and certifying endorsements of two (2) suitable witnesses and a notary.
Limited (Special) Power of Attorney – Customizes a transaction to bestow controls to a secondary person as described within the language provided in the document by the declaring party.
Download: PDF, Word (.docx)
Signing Requirements: Acknowledgement from a notary and two (2) witnesses are needed to authenticate the designation.
Living Will – Assigns preselected choices of a person’s medical treatment options to prepare for possible scenarios where a patient is incapable of communicating their needs.
Download: PDF
Signing Requirements: Acknowledgment of the endorsements must be carried out by two (2) sufficient witnessing parties.
Medical Power of Attorney – Readies the appointment of a designated attorney-in-fact to speak on an individual’s behalf regarding health care options should they become incapacitated.
Download: PDF
Signing Requirements: Acknowledgment must occur at the time of signing with the verification of two (2) suitable witnesses.
Minor Child Power of Attorney – Executes an agreement legally establishing another adult with parental controls over a minor for an interim period.
Download: PDF
Signing Requirements: Acknowledgement via notarization from a licensed professional is obligated to secure instate the written accord.
Motor Vehicle Power of Attorney – A paper form designed to offer rights to another to execute assigned duties connected with a vehicle in place of the owner.
Download: PDF, Word (.docx)
Signing Requirements: Acknowledgement by way of written notarization is obligated to secure the extension of controls.
Real Estate Power of Attorney – Condones another person to sign on behalf of a property owner concerning dealings associated with the sale, purchase, refinance, and management of real estate.
Download: PDF, Word (.docx)
Signing Requirements: Acknowledgment from a notary and two (2) subscribing witnesses must be obtained to substantiate the commitment.
Revocation of Power of Attorney – Eliminates an intact POA arrangement once it is no longer useful to the original declarant.
Download: PDF, Word (.docx)
Signing Requirements: Acknowledgement from the principal is needed to revoke the primary agreement.
Tax Power of Attorney (Form POA-1) – Satisfies the NY State Department of Taxation and Finance requirement to warrant representation of an individual by a tax specialist.
Download: PDF
Signing Requirements: Signatures from all taxpayers must be affixed to the form.
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