A new New York form updating and replacing the old New York Power of Attorney form has been developed and is available below on this blog. Also available on this blog is the new New York Statutory Major Gifts Rider form that must be completed in order to grant an agent under a power of attorney the authority to make major gifts. Many New York State Bar Association members worked to develop these new forms. Both the new Statutory Durable Power of Attorney form and the new New York Statutory Major Gifts Rider form are scheduled to go into effect in New York State on September 1, 2009.

This forms are much more complex than they look, and any reader who is considering using either of the forms provided below is strongly encouraged to discuss the new forms with a New York attorney prior to signing either document. For example, the new forms can be utilized only by New York residents and must be signed in New York in order to be valid. Further, although the specific language of the statutory forms cannot be changed, modifications can be made in subsection (g) of the Power of Attorney form and under paragraphs (b) and (c) of the Major Gifts Rider Authorization.

A committee of the New York State Bar developed suggested clauses that can be included as modifications in the new forms. These suggested clauses are also attached to this blog, and follow these new statutory forms below. The clauses could be included as Modifications to the Power of Attorney form and the Statutory Major Gifts Rider Authorization. Readers are strongly encouraged by the New York State Bar Association to insert the clause regarding the revocation of prior powers of attorney in paragraph (g) of the Power of Attorney form. Some of the suggested clauses are mutually exclusive and should be inserted in accordance with the direction/best interests of the Principal.

Remember, residents of states other than New York cannot use the attached forms, and New York residents are strongly encouraged to discuss the forms with an attorney licensed in New York State before signing either form. These forms are also available on the New York  State Bar Association Website.

New York Statutory Short Form Power of Attorney
New York Statutory Major Gifts Rider Form
New York Suggested Modifications to Statutory Short Form Power of Attorney
New York Suggested Modifications to Major Gifts Rider Form

TIME magazine published an article on September 9, 2009 describing the protections incorporated into the new New York power of attorney form here -  Legal Protections for the Elderly