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New York Durable (Statutory) Power of Attorney

A New York durable statutory power of attorney allows a person to hand over the power to handle their finances to someone else and remains valid during their lifetime. The person giving power ("principal") can choose to give limited or broad powers to their selected individual ("agent").
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Updated June 18, 2024

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Signing Requirements

The principal and agent must have their signatures acknowledged by an authorized notary public. In addition, the principal’s signature must be witnessed by two persons who are not named in the instrument as agents or permissible gift recipients — one of whom may be the notary public acknowledging the document. (Gen. Oblig. Law §1501B.)

Laws

Definition of “Durable”

A power of attorney is durable unless it expressly provides that it is terminated by the incapacity of the principal. (Gen. Oblig. Law § 1501A(1)).The subsequent incapacity of a principal shall not revoke or terminate the authority of an agent who acts under a durable power of attorney (Gen. Oblig. Law § 5-1501A(2)).

Definition of “Power of Attorney”

“Power of attorney” means a written document, other than a document referred to in section Gen. Oblig. Law § 1501C of this title, by which a principal with capacity designates an agent to act on his or her behalf and includes both a statutory short form power of attorney and a non-statutory power of attorney (Gen. Oblig. Law § 1501(J))

Statutory Form

The New York State legislature has created a sample statutory form for durable power of attorney available at Gen. Oblig. Law § 5-1513.