Update – New York Power of Attorney Law Goes Into Effect
On June 12, 2021, New York’s new Power of Attorney law (A.5630-A/S.3923-A) went into effect.
As a reminder, the law simplifies New York’s Power of Attorney form and implements penalties for improper rejection of a New York Power of Attorney by third parties. A Power of Attorney that was executed under a prior version of the law remains effective and does not need to be re-executed at this time. Here is a link to our previous article with a substantive outline of the specific changes to the law.
As the law continues to evolve on these matters, please note that this article is current as of date and time of publication and may not reflect subsequent developments. The content and interpretation of the issues addressed herein is subject to change. Cole Schotz P.C. disclaims any and all liability with respect to actions taken or not taken based on any or all of the contents of this publication to the fullest extent permitted by law. This is for general informational purposes and does not constitute legal advice or create an attorney-client relationship. Do not act or refrain from acting upon the information contained in this publication without obtaining legal, financial and tax advice. For further information, please do not hesitate to reach out to your firm contact or to any of the attorneys listed in this publication.