The new Power of Attorney statute is in effect, as of June 13, 2021. Signed into law late last year, it has been the subject of intense study by trusts and estates attorneys (and many others as well). The new Power of Attorney law makes many substantial changes to the old law. The old law,
A Power of Attorney is a very important and useful estate planning tool. But it is also a very dangerous one. A Will is effective only upon your death and then only when approved by the Surrogate’s Court. But a power of attorney is effective upon proper completion. It enables the person to whom it
In our previous entry we discussed the various ways that we can give our property can pass to others outside the terms of a valid Will or even if there is no Will at all (intestacy). Once understood, you can next consider your testamentary wishes and how to best give them effect.
You must first
