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New York General (Financial) Power of Attorney

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Updated November 16, 2023

A New York general (financial) power of attorney form is a document that allows you to grant authority over your financial affairs to a designated person. If want your POA to continue beyond your incapacity, do NOT use this form. You should use the durable form instead.


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1 – The Title And Declaration Statement Requires Specific Information

The Title at the top of the first page will require the Principal’s Full Name recorded on the blank space provided. The Principal is the individual who wishes to grant the Agent General Principal Authority in one or more of his or her affairs.

The Principal’s Name must also be supplied on the first blank line in the first statement.

This should be followed by presenting all the components of the Principal’s Address beginning with the Principal’s Building Number, Street Name, Apartment Number, and City on the second blank space as well as the State where this Address is found on the third blank space.

The Name and Address of the Agent or Attorney-in-Fact are the next items this statement requires. Make sure to record the Attorney-in-Fact’s Legal Name on the fourth blank space in this statement.

Lastly, document the Street Address and the State where the Attorney-in-Fact lives on the fifth and sixth blank spaces (respectively).

2 – The Principal Will Choose Which Powers To Designate The Agent

The first official task for the Principal designating his or her Authority to an Attorney-in-Fact is to name the Powers being granted. That is, what does the Attorney-in-Fact named have the Principal Authority to do in the name of the Principal? In Article I, the Principal will answer this question. He or she will need to review and discuss the different types of Principal Authority presented in the list in this section. Once he or she has decided upon the General Authorities to be granted, the Principal will need to initial the blank space preceding each Authority Statement that should be granted to the Attorney-in-Fact. Only the Principal Act of initialing will grant the Principal Power in a statement to the Attorney-in-Fact.

The Principal may give the Attorney-in-Fact The Principal “Power To Make Payments Or Collect Monies Owed” in his or her Name by initialing the first statement, on the blank space preceding the number “1.”

The Principal “Power To Acquire, Lease And Sell Personal Property” will be conferred to the Attorney-in-Fact if the Principal initials Statement 2.

The Attorney-in-Fact will have the Principal “Power To Acquire, Lease And Sell Real Property” with Principal Authority one the Principal initials the blank space preceding the third statement.

The Principal’s “Management Powers” can be assigned to the Attorney-in-Fact through the Principal Act of initialing the fourth statement.

The Principal’s “Banking Powers” will be designated to the Attorney-in-Fact when he or she initials the blank space preceding the statement “5. Banking Powers.”

The Principal Authority to make decisions and take actions regarding the “Motor Vehicles” in the Principal’s Name will be granted to the Agent or Attorney-in-Fact by initialing Statement 6.

The Power to represent the Principal using Principal “Tax Powers” can be appointed to the Agent when the Principal initials the blank space corresponding to the seventh statement.

If the Principal intends the Attorney-in-Fact to have Principal Access and exert Principal Authority regarding his or her “Safe-Deposit Boxes,” he or she will need to initial the eighth statement.

The Principal can appoint his or her “Gift Making Powers” to the Attorney-in-Fact once he or she initials the statement labeled “9. Gift Making Powers.”

If the Principal has determined the Agent should have Principal “Lending And Borrowing” Powers, then he or she should initial the blank line corresponding to the tenth statement.

The Attorney-in-Fact will gain the Principal Power to handle “Contracts” on behalf of the Principal by initialing the blank space prior to the label “11. Contracts.”

The Principal may have the Attorney-in-Fact make “Health Care” decisions in his or her name by initialing the twelfth statement.

If the Principal intends the Attorney-in-Fact to have the Principal Representational Powers defined by the Health Insurance Portability And Accountability Act of 1996 then he or she should initial the thirteenth statement

The Principal “Power To Hire And Pay For Services” in the Principal’s Name will be delegated to the Attorney-in-Fact once the Principal initials Statement 14.

The Attorney-in-Fact will be given the Principal Power to handle his or her own Reimbursement using Principal Powers after the Principal initials Statement “15. Reimbursement Of Attorney-in-Fact.”

The “Power To Sue Third Parties Who Fail To Act Pursuant To Power Of Attorney” can be wielded by the Attorney-in-Fact with Principal Authority, if the Principal initials the sixteenth statement.

The Principal can deliver specific Powers not listed here in this list by reporting them using the blank lines in the seventeenth statement and initialing the blank space corresponding to “17. Other.”

3 – This Document’s Effective Date And Termination Must Be Discussed

The times when the Attorney-in-Fact may use the Principal Powers granted here will need to be discussed. Even if the Principal intends the Attorney-in-Fact to be able to represent him or her until he or she passes away, it will have to be solidified in “Article III Effective Date And Termination” where the Principal will need to initial the statement defining the Principal Powers Start Date and the Principal Powers Termination Date.

The Principal must choose one of the first two statements to define the Start Date. If the Attorney-in-Fact may begin using Principal Powers upon the Principal’s Signature Date, the Principal should initial the first statement, however, if the Attorney-in-Fact may only use Principal Powers starting on a specific Date then he or she should initial the second statement and enter the desired Start Date utilizing the blank spaces in this choice. The Principal must initial one of these first two statements.

Now, we shall discuss when the Principal Powers detailed here will Terminate. The Principal may initial one of the three last choices in this section. The Principal Powers will Terminate automatically on a specific Date if that Date is reported on the blank space in the third statement in this section. If the Principal Powers should terminate only upon the Principal’s written revocation, then he or she should initial the fourth statement. Finally, the Principal may choose to have these Powers automatically Terminate should he or she be declared incapacitated by a Physician by initialing the last statement. The Principal must initial one of these last three statements.

4 – Only The Principal Can Execute Document With A Notarized Witnessed Signature

The Principal will need to coordinate with (at least) one Notary Public and two Witnesses to properly execute this document with his or her signature. Once these parties have gathered the Principal should enter the Current Date as a Two-Digit Calendar Day, Month, and Two-Digit Year using the blank spaces in the “In Witness Whereof…” statement.

The Principal must sign and print his or her Name on the same day as the Signature Date reported above.

5 – Several Entities Must Participate In The Authentication Of This Execution

The next area, “Acceptance Of Appointment,” has been provided so the Attorney-in-Fact may verify his or her acceptance of the Principal Powers delivered here. This process requires the presentation of the Attorney-in-Fact’s Legal Name on the blank space in the statement provided. The Attorney-in-Fact must then prove his or her Signature and Printed Name in the appropriate areas.

The Witness paragraph should now be read by both Witnesses to the Principal Signature. Each one will have to verify the truthfulness of the “Witness” Statement by signing his or her Name on the “Witness” line and supplying his or her Address on the “Address” lines.

Finally, the “Acknowledgment Of Notary Public” will have to be tended to by the Notary Public obtained for the Notarization of this form.