Articles

What if you are given a Power of Attorney and asked to accept the agent’s authority?

Even if the POA does not follow the statutory form, you can still agree to the agent’s authority. Non-statutory POA agency relationships are created all the time for specific purposes (real estate agent contracts come to mind). The POA law…

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Suggestions for Lawyers

When drafting a statutory POA under the new law, drafters need to include any modifications that would be helpful for the client’s goals. Here are a few of the most common modifications: Immediate Authority or Authority in the Future? –…

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Recognition and Enforcement of an Agent’s Authority

The new laws have strengthened the procedures for enforcement of a valid statutory POA. There are also new provisions that encourage third parties to accept a statutory POA without court intervention. To encourage acceptance of a valid statutory POA, the…

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Updates to the Statutory Form

The new law changed the wording of the statutory POA, the authority granted by the document, and even changed the execution requirements for a valid POA. Agent’s Ability to Act (NY GOL §5-1502D & NY GOL §5-1513) Under the old statutory…

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The 2021 New York Statutory Power of Attorney

What is the Effective Date? Beginning on June 13, 2021, Power of Attorney forms should follow the new statutory form and are subject to the new rules regarding execution and formatting. Powers of Attorney signed before June 13, 2021, using…

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