Post By George in Estate Planning - Documents
The effective date for the legislation materially modifying New York’s provisions regarding powers-of-attorney has been pushed back to September 1, 2009. Statutory language (including the text of a “safe-harbor” short form at §5-1513) can be found online at www.titlelaw-newyork.com/Chapter644.pdf (not for the casual reader), until commercial publishers make a standard form readily available (Blumberg says “late August”). Please be mindful not only of the new formalities of execution, but also of the new statutory duties imposed upon attorneys-in-fact (including, significantly, a duty to “account”).
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