New York Trusts & Estates Law Blog

I blogged several weeks ago about the new New York Power of Attorney law, the changes to the statutory short form and the postponement of the effective date of the new POA statute to September 1, 2009.

A point of clarification, since several people have asked. A valid New York power of attorney created prior to September 1, 2009, will remain valid after September 1, 2009. You don’t have to re-appoint an agent using the new statutory short form. The requirements of the new POA statute apply only to powers of attorney created on or after September 1, 2009.

Several statutory changes will apply to all powers of attorney, regardless of whether they were created before or after September 1, 2009. These include provisions requiring acceptance by all third parties, establishing the standard of care for the agent or attorney-in-fact, and providing for a special proceeding to compel third parties to accept the POA.

SE

Related posts:

1. New York’s revised power of attorney statute (#2)
2. Will New York revise the power of attorney law again?
3. New York’s new power of attorney law
4. “Major revisions to New York Power of Attorney Law” in the Nassau Lawyer
5. New York Power of Attorney and Statutory Major Gifts Rider forms