Article Guide
The New York Durable Power of Attorney form is a vital legal document that empowers individuals to designate someone they trust to manage their financial and legal affairs when they are unable to do so themselves. This form is particularly crucial for planning ahead, as it ensures that your wishes are respected and that your financial matters are handled by a trusted agent during times of incapacity. The document remains effective even if the principal becomes incapacitated, which is what sets it apart from a standard power of attorney. Key components of the form include the designation of the agent, the specific powers granted, and the principal’s signature, which must be notarized to ensure its validity. Additionally, it is important to note that the principal can specify limitations on the powers granted, providing a level of control over how their affairs will be managed. Understanding the nuances of this form can help individuals make informed decisions about their future and provide peace of mind for both themselves and their loved ones.
Preview - New York Durable Power of Attorney Form
New York Durable Power of Attorney Template
This Durable Power of Attorney ("Document") is created in accordance with the New York General Obligations Law (Article 5, Title 15) and remains valid unless specifically revoked by the principal or upon the death of the principal. It grants the person you choose as your agent the power to manage your financial affairs.
NOTICE: The powers granted by this document are broad and sweeping. They are defined in the New York General Obligations Law §5-1501. If you have any questions, seek legal advice before signing.
Principal's Information:
- Full Name: ___________________________
- Address: _____________________________
- City, State, Zip: ________________________
- Date of Birth: __________________________
- Phone Number: _________________________
- Email Address: _________________________
Agent's Information:
- Full Name: ___________________________
- Address: _____________________________
- City, State, Zip: ________________________
- Relationship to Principal: ______________
- Phone Number: _________________________
- Email Address: _________________________
Powers Granted: This Document grants the Agent the authority to act on the Principal's behalf in financial matters, including but not limited to:
- Real property transactions;
- Personal property transactions;
- Bond, share, and commodity transactions;
- Banking transactions;
- Business operating transactions;
- Insurance transactions;
- Estate transactions;
- Legal claims and litigation;
- Personal and family maintenance;
- Benefits from social security, Medicare, Medicaid, or other governmental programs or civil or military service;
- Retirement plan transactions;
- Tax matters.
Additional Instructions or Limitations: ____________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
This Document does not authorize the Agent to make healthcare decisions for the Principal.
Execution Date: ________________________
Principal's Signature: ________________________
State of New York, County of _______________:
On this day, _______________ (date), before me, a Notary Public, personally appeared ________________________ (Principal's Name), known to me to be the person whose name is subscribed to this instrument, and acknowledged that they executed the same for the purposes therein contained.
In Witness Whereof, I have hereunto set my hand and official seal.
Notary Public: ________________________
Commission Expires: __________________
PDF Specifications
| Fact Name | Description |
|---|---|
| Definition | A Durable Power of Attorney allows an individual to appoint someone to manage their financial affairs even if they become incapacitated. |
| Governing Law | The New York Durable Power of Attorney is governed by New York General Obligations Law, Article 5, Title 15. |
| Durability | This form remains effective even if the principal becomes mentally incapacitated, unlike a standard power of attorney. |
| Revocation | The principal can revoke the Durable Power of Attorney at any time, as long as they are mentally competent to do so. |
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