Power Of Attorney
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This article originally appeared in the Plattsburgh Press-Republican’s Senior Sentinel …
A Power of Attorney (POA) is a powerful legal document that allows a person (the Principal) to grant certain legal powers to a person of their choosing (the Agent). This person can be a family member, a neighbor, or a good friend-anyone the resident chooses and trusts implicitly. Having a POA can be a great thing if the right person is chosen. Generally, a Power of Attorney gives the person (or persons) you choose the power to manage your assets and financial affairs while you are still alive. This legal document must be signed when the Principal has the full capacity to understand the powers being given. If the document is a durable Power of Attorney, the powers granted will continue even if the Principal becomes incapacitated. The key word here is, manage your money, not take your money. This person can assist in paying any bills and they can make purchases on your behalf, but they must keep all receipts and properly note where all the funds are going.
There were major changes to the law on June 13, 2021, concerning Powers of Attorney in New York State. These changes included the removal of the Statutory Gift Rider which was required if you wanted to allow your Agent(s) to make certain gifts or transfers over the $500.00 limit per year. Instead, you may modify your Power of Attorney form to allow additional powers. In addition, the signature of the Principal must be in the presence of a notary public and two adult witnesses. The notary public is allowed to act as one of the witnesses. If you properly signed a Power of Attorney prior to June 13, 2021, your document remains valid and in full effect. The new laws have changed the form of the Power of Attorney, to make it more “user friendly” and, hopefully, easier to understand and to use. It is very important to use the proper and updated form for the Power of Attorney as use of prior forms will not result in a valid Power of Attorney. Since the change in the law is so significant, we strongly suggest that you consult an attorney if you wish to execute a Power of Attorney in New York. As you can see in the brief description above, the Power of Attorney law is complicated and should be carefully considered and executed with legal advice. Each situation is unique and can be best addressed with the assistance of an attorney. Clinton County office of the Aging offers assistance through The Rural Law Center for your convenience. They can be reached at Phone: 518-565-4620
Please don’t hesitate to reach out to your Ombudsman for Clinton, Essex and Franklin Counties with any questions and concerns about your rights in long-term care facilities. You may call 518-562-1732. Or email Amy Gehrig at: amy@ncci-online.com. We are here to advocate for you.
