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Power To The People

Yesterday I attended a seminar about the changes to the Power of Attorney form in New York State.  I got a stack of materials and loads of practical advice, but here’s the takeaway:

 

A)  The law is very poorly drafted and passed by a NYS Legislature that can’t really get its act together; but

B)  It makes sweeping changes in the Power of Attorney form that must be adhered to avoid invalidating the Power (or at the least failing to confer the intended authority to the agent). 

 

I’d counsel anyone not to try this at home with a form from the office supply store, and I’d give even seasoned practitioners a bit of time to get the hang of this law, which goes into effect September 1st.  Or else call your lawyer today and ask for a pre-9/1 Power, which will be grandfathered into the law. That should save you some big bucks, as lawyers will need to charge a lot more for a personalized document that may exceed six pages than the pre-9/1 fee for a single page.

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