Effective June 13, 2021, New York will be changing its statutory financial Power of Attorney form. The new statute is a significant improvement compared to the previous statutory power of of attorney law. The new New York Power of Attorney form is more simple than its predecessor and helps to ensure that it will be […]
A Power of Attorney (“POA”) is a very useful and inexpensive document to obtain. If you do not have a POA, in order for your spouse or loved ones to make financial decisions for you, they must institute a guardianship proceeding.
Yesterday I wrote a post about how banks are routinely refusing to accept powers of attorney. I thought this statute may be helpful to people who may need to argue with the banks (at least in NJ anyway):N.J.S.A 46:2B-13. Banking institutions to accept power of attorney 4. With respect to banking transactions, banking institutions shall accept […]
Please be advised that more and more banks are refusing to accept any financial power of attorney other than their own form. This may not be a huge problem if you are still competent, but if you become incapacitated later and have not sign the “Bank approved form”, it could make life very difficult for […]
Men and women who are contemplating a separation or divorce have unique needs. Some divorces are very friendly and you can still count on your soon-to-be ex, but in most other situations, you may find that you rethink many aspects of your life, including where you wish your assets to go should something happen and […]
Happy New Year! Effective January 1, 2015, under Act 95, Pennsylvania modified Chapter 56 of Title 20 of the Pennsylvania Consolidated Statutes, which deals with Powers of Attorney. The amendment was made to try to better protect the Grantor of the powers. Under the new statute, a Pennsylvania Power of Attorney must be witnessed by […]
Many people question when they should start their estate planning. The short answer to this is that there is no specific age someone should see an attorney to plan their Will, Financial Power of Attorney and Advance Directive for Healthcare. However, you do need to be a minimum of 18 years of age. If you know […]