Durable Power Of Attorney New York Form

New york durable financial power of attorney form grants a person you designate as your agent with broad powers to handle your assets and property while you are still alive.

Durable power of attorney new york form.

Power of attorney forms for other new york state agencies for example the department of labor s form ia 900. The new york statutory durable power of attorney form authorizes an attorney in fact to manage a person s financial matters in perpetuity after the document s execution even in the event of incapacitation. 340 page 4 of 9 behalf. Special provisions and limitations may be included in the statutory short form durable power of attorney only if they conform to the requirements of 5 1503 of the new york general obligations law this durable power of attorney shall not be affected by my subsequent disability or incompetence.

The nyslrs special durable power of attorney form meets all of new york state s legal requirements. The appointed attorney in fact should be someone close to the principal someone capable but also trustworthy. Durable power of attorney allows a principal to confer the power to act across a broad range of financial matters. The form is limited to nyslrs pension benefit transactions.

A new york durable power of attorney form is a legal document used to give a person the authority to act on behalf of another person in financial and or personal matters even if the other person is determined to be incapacitated or found legally incompetent to manage his or her own affairs. For example it won t allow the agent to make changes to a new york state deferred compensation retirement account. This form can be found in the new york consolidated laws general obligations law section 5 1513. This type of form stays in effect even if you become mentally incapacitated and unable to act for yourself.

If you wish to define reasonable compensation you may do so above under modifications. The new york legislature has created a financial power of attorney form which is titled power of attorney new york statutory short form. It basically allows someone to act on your behalf with regard to all of your financial affairs. New york statutory short form power of attorney 8 18 10 eff.

The new york statutory durable power of attorney form authorizes an attorney in fact to manage a person s financial matters in perpetuity after the document s execution even in the event of incapacitation. If you also wish your agent s to be compensated from your assets for services rendered on your behalf initial the statement below.