New York Durable (Statutory) Power of Attorney Form
The New York Durable (Statutory) Financial Power of Attorney comprises of a number of provisions concerned with regulating an arrangement whereby one party (the Principal) will delegate financial decision making powers to another party of their selection (their Agent). This delegation of powers is necessary so that the Principal can in effect assign the Agent one or more financial tasks to complete on their behalf. The Agent has an enduring legal responsibility—as per the durable conditions of this form—to attend to any tasks assigned to them even in the event of the Principal’s incapacity.
State Laws & Signing Requirements
Signing Requirements (§ 5-1501B) – State law mandates that the Principal and the Agent alike must sign and date the Durable Power of Attorney, which must be duly acknowledged. There are a range of additional requirements the Principal must follow, of which have been detailed in the main New York Power of Attorney resource page.