New York recognizes limited or “nondurable” powers-of-attorney, “durable” powers-of-attorney, and “springing” powers-of-attorney. What are the Several Types of Powers-of-Attorney in New York? How is a “Power-of-Attorney” Defined?īy definition, a “power-of-attorney” means the specific abilities or powers that one person (the “principal”) gives to an individual or organization called the “attorney-in-fact” or the “agent.”Ī “general” power-of-attorney may include the ability of your agent to manage finances, handle business matters, buy and sell assets, and make other necessary financial and business decisions on your behalf. Schedule a free consultation to learn more about financial powers-of-attorney and our other estate planning services by calling the Law Offices of Thomas J. We help you prepare for the future by making certain that your long-term interests are effectively protected. Lavin are able to help you create a financial power-of-attorney, and we will also help you revoke a power-of-attorney when you choose to do so. The Bronx estate planning lawyers at the Law Offices of Thomas J. Who Can Help You Establish a Power-of-Attorney? The proper legal instrument for delegating medical decisions to an agent in New York is called a health care proxy. However, in New York, a power-of-attorney is not the right document for giving an agent the authority to make healthcare decisions on your behalf. Each power-of-attorney grants specific abilities and control to a designated individual (or a designated organization such as a bank).

The law in New York permits you to create several different types of powers-of-attorney. In the State of New York, a power-of-attorney lets you give someone else – your “agent” – the ability to make key business and financial decisions for you if you are incapacitated and cannot make those decisions yourself. You can’t know the future, but you can prepare for it by working with a Bronx power-of-attorney lawyer to create financial powers-of-attorney to take care of situations that may arise in the future without any warning.

New york power of attorney for finances