New York Statutory Durable Power of Attorney Form

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A New York statutory durable power of attorney is a document that allows an individual to appoint an agent to conduct financial matters on their behalf. The principal still retains the right to perform all financial tasks, and the agent’s authority will continue if the principal becomes incapacitated and can no longer manage their affairs.

New York Statutory Durable Power of Attorney Form

A New York statutory durable power of attorney is a document that allows an individual to appoint an agent to conduct financial matters on their behalf. The principal still retains the right to perform all financial tasks, and the agent’s authority will continue if the principal becomes incapacitated and can no longer manage their affairs.

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Last updated April 16th, 2024

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A New York statutory durable power of attorney is a document that allows an individual to appoint an agent to conduct financial matters on their behalf. The principal still retains the right to perform all financial tasks, and the agent’s authority will continue if the principal becomes incapacitated and can no longer manage their affairs.

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Signing Requirements

The following signing requirements must be met for a durable power of attorney to be considered valid[1]:

  • The principal’s signature must be acknowledged by a notary public.
  • The agent’s signature must be acknowledged by a notary public.
  • The principal’s signature must be witnessed by two individuals. The following restrictions are applicable to the two witnesses:
    • A person named as an agent cannot be a witness.
    • A person named as a recipient of a gift cannot be a witness.
    • The notary public acknowledging the signature can be a witness.

Power of Attorney (Preview)

New York Statutory Durable Financial Power Of Attorney

Legal Definition

A power of attorney is durable unless it expressly provides that it is terminated by the incapacity of the principal. The subsequent incapacity of a principal shall not revoke or terminate the authority of an agent who acts under a durable power of attorney.[2]

Sources

  1. GOB § 5-1501B
  2. GOB § 5-1501A