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A 5630 - Amends Various Power of Attorney Laws - New York Key Vote

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Title: Amends Various Power of Attorney Laws

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).

See How Your Politicians Voted

Title: Amends Various Power of Attorney Laws

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).

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