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The NYSLRS Special Durable Power of Attorney (POA) document allows someone else, referred to as the ?agent,? (for example, a trusted friend or family member) to act on your behalf regarding retirement benefit transactions.
How to make a New York power of attorney Decide which type of power of attorney to make. ... Decide who you want to be your agent. ... Decide what authority you want to give your agent. ... Get a power of attorney form. ... Complete the form, sign it, and have it witnessed and notarized.
Yes. A Principal may want to authorize transfers or gifts property for estate planning and other valid purposes. New statutory short-form Powers of Attorney in New York State permit Agents to make gifts to members of the Principal's family, if the Principal so authorizes in the Power of Attorney.
How much does a Power of Attorney cost in NY? The cost of finding and hiring a lawyer to create a Power of Attorney could be between $200 and $500.
Here are the basic steps to make your New York power of attorney: Decide which type of power of attorney to make. ... Decide who you want to be your agent. ... Decide what authority you want to give your agent. ... Get a power of attorney form. ... Complete the form, sign it, and have it witnessed and notarized.
New York will accept a Power of Attorney that is properly executed in another state. For example, if someone executes a valid New Jersey Power of Attorney, and then moves to New York, the POA will continue to be valid in New York.
In New York, you must notarize the POA and also have it witnessed by two people who are not named in the POA as agents. The notary public can serve as a witness, so you might need to find only one more witness.
On June 13, 2021, a new version of the New York Statutory Short Form Power of Attorney went into effect. Any powers of attorney executed before this date that complied with the earlier 2010 law continue to be valid. However, powers of attorney executed after June 13, 2021 must comply with the new requirements.