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New Developments in the Law: New Statutory Forms of Powers of Attorney
Memorandum for Clients and Friends
Individuals should know that as of January 1, 1997, New York has revised its standard statutory forms of general powers of attorney with the intent of making them simpler and more useful.
This would be a good occasion for individuals to ask counsel to review and bring down to date their powers of attorney, living wills and other estate and tax planning documents, as well as their wills.
It is also a good occasion to ask counsel to advise as to other powers of attorney, such as those required by particular banks and other institutions, appropriate for the individual's needs. This is true because in many instances it is significantly easier to deal with a bank or other institution if its particular form is used in addition to the statutory form.
Questions regarding the Memorandum can be directed to Robert R. Grew at 212-238-8803 or email@example.com.