When You Should Have a New York Durable Power of AttorneyJune 2, 2015 – Articles City Bar Justice Center
Bridget La Rosa co-authored the City Bar Justice Center article, "When You Should Have a New York Durable Power of Attorney." A synopsis is below.
A power of attorney (“PoA”) is a special form that permits another person (the “agent” or “attorney-in-fact”) to act on behalf of you (the “principal”). Any person over age 18 and competent can sign a PoA.
The reasons you would want a PoA in place are many and include the following:
- In the case of your incapacity, your agent can administer your personal, business, and financial affairs;
- When you are out of communication and “off the grid,” your agent can take care of your financial affairs.