A Gift From New York (Without the Rider): New York's Updated Power of Attorney

Murtha Cullina

Effective June 13, 2021, New York updated its Statutory Short Form Power of Attorney, with revisions that should significantly improve the experience for both practitioners and clients alike.

A power of attorney is a document in which the principal appoints an agent to act on his or her behalf with regard to the principal’s financial affairs. Although its significance is perhaps downplayed by the often-used phrase “collateral instrument,” the execution of a power of attorney can give sweeping authority over one’s financial affairs to one's agent.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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