The “New” New York Power of Attorney Law

On September 1, 2009, a new Power of Attorney law went into effect in New York State. The new law (Section 5-1513 of the General Obligations Law) makes significant changes to the use of Powers of Attorney in New York. Although the
new statutory short form Power of Attorney must be used after September 1, 2009, it is important to note that the new law does NOT affect the validity of any Power of Attorney which was executed prior thereto and must be honored by third parties to which they are presented. Visit http://www.estateplanningandelderlawcenter.com/ and read the full article on my Fall 2009 Newsletter.