In June 13, 2021, New York State’s new Power of Attorney form goes into effect. The highly anticipated changes to the Power of Attorney form promise to bring down barriers that the old form put in place for New Yorkers who are planning for the future.
The Power of Attorney is perhaps the most important document that we prepare for under-resourced seniors. Having a Power of Attorney in place ensures that our clients can stay in their communities for as long as possible. Having a properly empowered agent under a Power of Attorney is an eviction prevention tool, can facilitate access to life sustaining benefits, and can ensure access to health insurance when someone’s health is critically endangered. A client who has a properly executed a Power of Attorney empowers their agent to pay bills, sign leases, apply and recertify for housing subsidies and other governments benefits, and to deal with a host of other foreseen and unforeseen issues.
What has changed?
- The burdensome and confusing Statutory Gifts Rider has been eliminated.
- The requirement that only Powers of Attorney with exact wording be honored has been eliminated. Now, so long as a Power of Attorney substantially conforms to the wording of the statutory form, it should be honored.
- The new law allows a principal to direct someone in their presence to sign a Power of Attorney on their behalf, and makes this critical tool available to scores of physically disabled New Yorkers who retain their mental capacity but are physically unable to sign the document.
- There are now enhanced enforcement mechanisms in place to ensure that banks and others honor properly executed Powers of Attorney.
What should you do?
If you have a properly executed Power of Attorney in place that was completed prior to June 13, 2021, then there is nothing that you need to do. The new law only applies to Powers of Attorney signed on or after June 13, 2021. If you are signing a Power of Attorney after that date, make sure it is the updated form.
We would be happy to review Powers of Attorney for qualified seniors age 60+ who live in the five boroughs who have limited income and resources. If the Power of Attorney does not comply with the statute we can discuss updating the form for qualified seniors who retain capacity. Please contact us at 347-521-5704, email pkempner@volsprobono.org, or visit our website at volsprobono.org/elderly to download our intake form.