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Types of Power of Attorney in New York
There are numerous types of Power of Attorney (POA) that can be created and used in New York. These important legal documents allow Principals to entrust essential financial and/or medical responsibilities to their chosen Agents (also known as Attorneys-in-Fact). The most common types of POA used in New York include the following:
Nondurable: In New York, all Power of Attorney arrangements are seen to be durable in nature and can continue to be effective even if the Principal becomes incapacitated. Special language must be used in the document to indicate if the POA is not going to function as a durable instrument.
Durable: A durable Power of Attorney is an essential tool for estate planning as it permits an Agent to act for you even if you become disabled or incapacitated.
Springing: A springing Power of Attorney is a legal instrument that allows you to appoint and give authority to an Agent when certain criteria are met and specific events occur. These will normally become active when the Principal becomes incapacitated and unable to act for themselves.
Medical: A Medical Power of Attorney (also known as a Health Care Proxy) is slightly different from most other types of POA as it focuses on a Principal’s medical necessities rather than the management of your financial affairs. This allows individuals to empower an Agent to make emergency medical decisions for them if they become disabled or unconscious.
Minor Child Power of Attorney: This variety of Power of Attorney allows a Principal to appoint an Agent to take on their legal parental rights for a limited period of time. This could be for work reasons, deployment in the military, or due to illness.
How to Get Power of Attorney in New York
It is possible to create a Power of Attorney statutory short form in New York fully online using our web-based tools. These can help you design your own legal form at home that properly adheres to the state’s laws and statutes in a few easy steps, with expert guidance and professional templates.
Alternatively, New York Power of Attorney documents can be drawn up by legal professionals. However, this is often a more costly and time-consuming method of creating a POA document.
Power of Attorney Requirements in New York
Once you’ve created your New York Power of Attorney document, there are a number of steps to prepare before it can be put successfully into action. In order for you to make your final form legal you will need to meet the following criteria:
The text of the document must not be written in anything smaller than a 12 point font.
The document must use the specific language required by New York statutes.
The Principal and Agent must be sound of mind when they sign the document and deemed sufficiently able to enter into a legal agreement of this nature.
The Principal must acknowledge the document in front of a notary public and the Agent must also sign the document in the presence of a notary.
New York Power of Attorney FAQs
It’s important to fully understand the implications of signing a New York Power of Attorney whether you’re the Principal or a chosen Agent. To help explain more about what a POA can and cannot do simply browse through our FAQs and answers below.
What Are Some of the Uses of a Power of Attorney?
A New York Power of Attorney is an important legal document that allows you to appoint a trusted individual to act on behalf of you to carry out important activities. Once signed, these legal forms can be used for a number of different purposes depending on their type and purpose.
These responsibilities include:
Managing your financial affairs
Making medical decisions for you if you are incapacitated
Handling activities for you such as buying or selling property
How to Revoke a Power of Attorney in New York
The Principal named in the document has the right to rescind a New York Power of Attorney at any time as long as they are considered sound-of-mind.
In doing this they need only complete a Revocation of Power of Attorney form indicating their wish to cancel the granted authority and to inform the Agent. The Principal should also inform any banks or other institutions with the POA on record of its cancellation.
If however, the Principal becomes incapacitated, removing durable powers granted to an Agent may become more complicated. If the Agent refuses to cede their authority following intervention from concerned parties, it will be necessary to ask a judge to rule on conservatorship of the Principal.
How to Know if My Power of Attorney is Durable
In New York, Power of Attorney documents are automatically assumed to be durable unless the contrary is specifically stated in the wording of the form. This means it is necessary to expressly create a nondurable document if you wish for the powers you are granting to not be durable and for the POA to expire in the event of your incapacity.
Where Can I Get a New York Power of Attorney?
It is possible to create a New York Power of Attorney document quickly and easily online. With our step-by-step POA creator and expert templates, you can write a legal document that suits your needs and conforms to state law.
Alternatively, a Power of Attorney document can be created with the help of a lawyer or legal expert. However, this is usually more expensive as a process.