LexisNexis® NYSBA’s Automated Power Of Attorney Form (2021)
New York State recently reformed the statutory short form power of attorney for purposes of financial and estate planning, effective June 13, 2021. The changes are designed to simplify the POA form, allow for substantially compliant language as opposed to exact wording, provide safe-harbor provision for good-faith acceptance of an acknowledged POA, and allow sanctions for those who unreasonably refuse to accept a valid POA. In addition, there are also a number of technical amendments.
- This version of the New York State Power of Attorney is a fully automated document-assembly drafting system, powered by HotDocs®.
- It eliminates the need for repetitive typing, cutting, and pasting, along with the risk of errors that often accompany traditional form completion.
- Suggested language for permissible modifications is included within this program for ease of use.
- Once entered, names are filled in throughout the form where necessary and appropriate pronouns are also pre-filled.
- The finished result is provided in Microsoft Word which allows the preparer to make additional final edits as necessary.
- Frequently Asked Questions are provided to assist with the user experience along with an introduction articulating basic guidance for the form.
Assembly Bill A5630A (S3923) which reforms the New York Statutory Short Form Power of Attorney was signed by the governor on 12/15/2020 as L. 2020, ch. 323. A subsequent chapter amendment (S888/A2353) was signed into law on 3/25/2021 as L. 2021, ch. 84. Please view title 15 of the General Obligations law for general information on executing a power of attorney.
- June 15, 2021