The New York power of attorney is a document that enables one person, the principal, to authorize another person, the agent, to act on their behalf before third parties.
The principal can determine the scope of authorization they give to the agent. Namely, they can:
Scope of Authorization
Determine when it becomes and stops being effective
Specify the towers they delegate to the agent
List the third parties before which the agent can represent the principal
Choose whether a power of attorney will spring into effect
Based on the factors mentioned above, the principal should choose a different type of power of attorney.
Types of Power of Attorney in New York
New York Durable (Statutory) Power of Attorney Requirements
The main feature of this type of New York power of attorney is that it remains effective even after the principal becomes incapacitated. Legal incapacity can be caused by a coma, a mental illness, or any other situation where an individual cannot take care of their physical safety and health.
New York General (Financial) Power of Attorney Requirements
This type of New York power of attorney enables the principal to give broad authorization to undertake any necessary financial activity in the principal’s best interest.
New York Limited (Special) Power of Attorney Requirements
The principal uses the limited power of attorney to authorize the agent only for actions listed in the document. Any action the principal takes outside of the scope provided in the power of attorney will not be valid.
New York Parental (Minors) Power of Attorney Requirements
Suppose a parent or guardian of a minor in New York wants to authorize another person to make decisions about the minor's health, education, and other matters. In that case, they can use the parental power of attorney.
New York Medical Power of Attorney Requirements
This type of power of attorney enables the agent to make decisions about the principal’s health treatment. In New York, this document is also called the “Health Care Proxy,” and its signature requires the presence of two adult witnesses. (PBH § 2981)
New York Springing Power of Attorney Requirements
If you wish your power of attorney to become effective as of a certain date or after a certain event, you should use the New York springing power of attorney. In practice, people usually set their power of attorney to become effective after they become incapacitated.
New York Vehicle Power of Attorney Requirements
The principal can use this power of attorney to authorize another person to sell or purchase a vehicle on their behalf. Additionally, the agent can apply for the vehicle title and registration at the New York Department of Motor Vehicles.
New York Revocation Power of Attorney Requirements
This type of power of attorney is used to revoke previously issued powers of attorney. After the revocation, the principal should inform the agent and all the third parties the agent is interacting with on the principal’s behalf for the revocation to be effective.
New York Tax Power of Attorney Requirements
You can use this type of power of attorney to authorize your accountant or another tax professional to represent you before the New York tax authorities. They can obtain information from the tax office, submit tax returns, and execute other tax-related activities.
New York Real Estate Power of Attorney Requirements
The principal can use the New York real estate power of attorney to authorize their real estate agent or another legal or natural person to complete the real estate transaction or manage the real estate property on their behalf.
Legal Requirements for a Power of Attorney in New York
According to the New York General Obligation Law, a power of attorney executed in the state of New York must fulfill the following requirements:
Written or printed. The letters must be printed in letters that are legible and at least twelve points in size.
Principal signature. The principal or another person in the principal’s presence and direction must sign the power of attorney.
Agent signature. The document must also be signed and dated by the agent.
Witnesses. The document must be signed by two adult witnesses that are not listed as agents, co-agents, or successor agents. Additionally, the notary can also serve as a witness.
Statutory language. The New York power of attorney must contain the wording of the "Caution to the Principal" and "Important Information for the Agent" as provided in section 5-1513.
Notarization. Every New York power of attorney should be acknowledged by the notary public or other relevant body.
Who Can Be an Agent for a Power of Attorney in New York
You can name any adult with legal capacity as your agent. However, you should choose someone that you trust since they will be making important decisions on your behalf, especially if you authorize them to make financial or medical decisions on your behalf.
If you need someone to represent you in tax or legal matters, you should choose an agent with professional knowledge in these fields, such as your accountant or lawyer.
You can name two or more co-agents that will act together and represent your interests. Moreover, you can name the successor agent who will act in case the primary agent is not capable of representing the principal.
How to Create a New York Power of Attorney
Power of Attorney in New York
#1. Decide on Which Type of Document to Use
You should choose the type of New York power of attorney based on the scope of authority you want to delegate to your agent and the matters in which you want them to represent you.
#2. Select an Agent
This should be an adult who has the legal capacity and is trustworthy. Another factor you should consider when choosing an agent is their willingness to represent you, as well as their technical capabilities, such as their proximity to the place they need to represent you.
#3. Define the Agent’s Powers
You can issue a New York general power of attorney that authorizes the agent to take all the necessary actions that are in your interest, or you can issue a limited power of attorney with a list of all the powers the agent is authorized to have.
#4. Download & Fill in Our Form
The best way to get a New York power of attorney that is in line with all the state laws is to download one of the templates from our website. You just need to enter the relevant details, and you will have a professional and up-to-date power of attorney.
#5. Get It Signed & Notarized
Every New York power of attorney must be signed by the principal and agent and acknowledged before the notary public or other body authorized for the notarization of such documents.
#6. Safely Store the Original Copy
The principal should keep the original power of attorney.
#7. Provide Copies to Relevant Parties
The agent should also have one copy of the document in their possession, so they can prove their capacity to any third party they are interacting with. Additionally, you can provide every relevant third party with a copy of the document for their reference.
#8. Update the Document as Needed
You should update your power of attorney by issuing and signing the updated version of the document every time some of the relevant details in the document change.
How Long Does a Power of Attorney Last in New York?
The New York power of attorney becomes effective as soon as both the principal and agent sign the document before the notary public. The principal can also set a certain date or event as the moment when a power of attorney becomes effective.
If the principal issues a power of attorney to authorize an agent to complete a single action or transaction, it will terminate after the action or transaction is completed. Additionally, if a power of attorney is not set as durable, it will terminate the moment the principal loses their capacity.
New York Power of Attorney FAQ
You should use a power of attorney anytime you need to authorize another person to act on your behalf before any governmental, financial, or other organization.
It outlines the scope of authority granted to the agent and serves as proof of the capacity the agent can use when interacting with third parties.
Every New York power of attorney must be acknowledged by the notary public or other relevant body.
It’s recommended to make a power of attorney, even if you have already drafted a will. The key difference between these two documents is that a will deals with the allocation of your assets after you pass away, while a power of attorney enables another person to act on your behalf during your lifetime.