- AGENTS ACT SEPARATELY: If you designate more than one agent ,they must act together unless you initial the statement that they may act separately.
- The POWER OF ATTORNEY DOES NOT REVOKE any Powers of Attorney previously executed unless you so state under “Modifications”.
- GRANT OF AUTHORITY: You may grant authority to your agent(s) with respect to the following subjects: real estate transactions; chattel and goods transactions; bond, share, and commodity transactions; banking transactions; business operating transactions; insurance transactions; estate transactions; claims and litigation; personal and family maintenance: If you grant your agent this authority, it will allow the agent to make gifts that you customarily have made to individuals, including the agent, and charitable organizations. The total amount of all such gifts in any one calendar year cannot exceed five hundred dollars; benefits from governmental programs or civil or military service; health care billing and payment matters; records, reports, and statements; retirement benefit transactions; tax matters; and full and unqualified authority to your agents to delegate any or all of the foregoing powers to any person or persons whom they select.
- GIFT TRANSACTIONS: STATUTORY GIFTS RIDER: In order to authorize your agent to make gifts in excess of an annual total of $500 for all gifts described in under personal and family maintenance, you must initial the gift statement and execute a Statutory Gifts Rider at the same time as the power of attorney is signed.
- DESIGNATION OF MONITORS: If you appoint a monitor, your agents must provide him or her with a copy of the power of attorney and a record of all transactions done or made on your behalf if requested to do so. Third parties holding records of such transactions shall provide the records to the monitors upon request.
- COMPENSATION OF AGENTS: Your agent is entitled to be reimbursed from your assets for reasonable expenses incurred on your behalf. If you also wish your agent to be compensated from your assets for services rendered on your behalf, initial the statement. If you wish to define “reasonable compensation”, you may do so under “Modifications”.
Contact New York Attorney Robert Friedman at 716.542.5444 to have a New York power of attorney properly prepared.