| A Power of Attorney form is a legal form by which | | | | execution of powers of attorney was amended in |
| you (as the "principal") appoint another person (your | | | | 2009 to address concerns that they were being |
| "agent") to perform certain acts on your behalf. You | | | | abused. It is important that any New York power of |
| may authorize another person to sign legal | | | | attorney form contain all of the language required by |
| documents or to handle various financial matters for | | | | the 2009 amendments to New York's General |
| you. Power of attorney forms are used in many | | | | Obligations Law. |
| different situations, and can be signed without hiring a | | | | The statute sets forth three requirements for any |
| lawyer. | | | | New York power of attorney to be valid. First, the |
| There are a wide variety of situations that may | | | | power of attorney form must be typed or printed in |
| necessitate a power of attorney. For example, you | | | | a font no smaller than 12 points or, if in writing, the |
| may need to have a financial matter, such as a real | | | | reasonable equivalent thereof. Second, it must be |
| estate transaction, handled in another city or state. In | | | | signed and notarized by both the individual who |
| some circumstances, you may need to have a family | | | | granted it (called the "principal" in the statute) and the |
| matter handle a financial matter on your behalf. | | | | attorney-in-fact (called the "agent" in the statute). |
| Power of attorney forms are widely used in a | | | | Third, it must contain the exact cautionary language |
| variety of commercial, real estate, and other types | | | | set forth in New York General Obligations Law, |
| of transactions. | | | | ยง5-15136 ("Caution to the Principal" and "Important |
| In New York, the law regarding the form and | | | | Information for the Agent"). |