Durable Power Of Attorney New York Form

The new york legislature has created a financial power of attorney form which is titled power of attorney new york statutory short form.

Durable power of attorney new york form. This type of form stays in effect even if you become mentally incapacitated and unable to act for yourself. Durable power of attorney allows a principal to confer the power to act across a broad range of financial matters. 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. 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 form is limited to nyslrs pension benefit transactions. Potentially you may use this template to grant the agent the authority to decide upon a variety of issues and perform a wide scope of actions in your name. If you also wish your agent s to be compensated from your assets for services rendered on your behalf initial the statement below. The nyslrs special durable power of attorney form meets all of new york state s legal requirements.

This form can be found in the new york consolidated laws general obligations law section 5 1513. Power of attorney or authorization forms for the irs for example form 2848 or form 8821. It basically allows someone to act on your behalf with regard to all of your financial affairs. If you wish to define reasonable compensation you may do so above under modifications.

340 page 4 of 9 behalf. 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. 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. Power of attorney forms for other new york state agencies for example the department of labor s form ia 900.

The appointed attorney in fact should be someone close to the principal someone capable but also trustworthy. The appointed attorney in fact should be someone close to the principal someone capable but also trustworthy.