New York General Power of Attorney Form
A New York General Power of Attorney is a legal document that gives anyone eighteen (18) years and older the ability to provide another person with the ability to carry out financial tasks on their behalf. Moving money, selling investments, and purchasing real estate are just a few of the tasks that one can use while acting under a power of attorney.
Power of attorney forms are often classified as either “durable” or “non-durable”. This form is non-durable, meaning the agent (the person that was given power) can only act on behalf of the principal (person granting power) so long the principal is in good health. In other words, if the principal loses the ability to speak their wishes, the power of attorney will become null and void. Those looking for a durable-type POA can find one here.
This power of attorney complies with NY law (§ 5-1501A) in that it specifically states it the following on the first page:
The powers granted to the Attorney-in-Fact by the Principal in this Limited Power of Attorney Form DO NOT stay in effect upon incapacitation by the Principal, incapacitation is describes as: A medical physician stating verbally or in writing that the Principal can no longer make decisions for them self.
Laws: GOB Art. 5, Title 15
Signing requirements (§ 5-1501B): In order to be considered valid, the POA must:
- Be signed by the principal,
- Be signed by the agent, and
- Be Notarized by a certified Notary Public (24/7 Notaries can be found here).