Signed by Governor Andrew Cuomo

Vote Smart's Synopsis:

Vote to concur with senate amendments and pass a bill that amends various power of attorney laws.

Highlights:

• Defines “power of attorney” as a written document by which a principal with capacity designates an agent to act on their behalf and includes both a statutory short form power of attorney and a non-statutory power of attorney (Sec. 1).

• Specifies that the determination of whether there is substantial conformity with the form may not depend on the presence or absence of a specific clause (Sec. 1).

• Specifies that in order to authorize an agent to make gifts in excess of an annual total of $5,000 for all gifts and/or to make changes to interest to your property, one must expressly grant that authorization in the modifications options (Sec. 1).

Full Bill Text

Vote Smart's Synopsis:

Vote to amend and pass a bill that amends various power of attorney laws.

Highlights:

• Defines “power of attorney” as a written document by which a principal with capacity designates an agent to act on their behalf and includes both a statutory short form power of attorney and a non-statutory power of attorney (Sec. 1).

• Specifies that the determination of whether there is substantial conformity with the form may not depend on the presence or absence of a specific clause (Sec. 1).

• Specifies that in order to authorize an agent to make gifts in excess of an annual total of $5,000 for all gifts and/or to make changes to interest to your property, one must expressly grant that authorization in the modifications options (Sec. 1).

Full Bill Text