New York Power Of Attorney Lawyer
A New York Power of Attorney Lawyer can explain to you that a Power of Attorney is a document that gives a person (attorney-in-fact or agent), the power to act on behalf of another (principal). There are many different variations of this document, which can range from granting a very broad range of powers, to something very specific. Generally, a Power of Attorney becomes invalid when the principal dies or becomes incapacitated. However, there is a type of Power of Attorney that remains in effect after the principal becomes incapacitated, which is called a Durable Power of Attorney. These documents can grant the agent a large degree of authority over the principal’s affairs, and as such must be entered into carefully. It is therefore important to always consult with a New York Estate Lawyer to assist you in creating a document the suits your needs and also protects your rights.
In New York, recent changes have been made to the law governing Powers of Attorney. These changes not only deal with the language used in the document, but how the document is executed (signed). These recent amendments to the New York General Obligations Law basically provide among other things, that a Power of Attorney is now considered durable, unless the document specifically provides otherwise. These are significant changes, which make it all the more important to consult with a New York Probate Lawyer when obtaining a Power of Attorney, or other Estate Planning document.
These documents are used in a variety of situations, two of the most common being in the health care and financial areas. A Durable Power of Attorney for Health Care names a trusted person to supervise your health care and has the authority to make health decisions for you if you are unable to do so. Note that this is different from a Living Will. In a Living Will you set out written health care instructions to both your agent and your physicians. These documents are often combined into what is known as an Advanced Health Care Directive.
Another type of commonly used Power of Attorney is a called a Durable Power of Attorney for Finances. This document gives an agent or attorney-in-fact power to handle your finances. These documents can be created for a single transaction or purpose, or they can be designed to handle all of your financial affairs. These tasks can range from paying your bills, to managing investments and completing business transactions.
Powers of Attorney are important documents that can grant another individual a considerable amount of power of your health care and/or financial affairs. As such, it is important to ensure that these documents are drafted correctly to ensure that your rights are protected. Often these documents are part of a comprehensive estate plan package, which could include a Will and Trust, among other documents. If you need assistance with Estate Planning, Estate Administration, or perhaps are involved in a Probate Litigation matter, contact a qualified New York Estate Lawyer from Stephen Bilkis & Associates, PLLC. We can provide you legal guidance and a free case consultation. We have office locations near you, whether you live in Queens, or Brooklyn, Long Island or Westchester County. Call us today and schedule your free appointment at 1.800.NY.NY.LAW.