New York's New Power of Attorney Statute and Form
(2009)
2.0 MCLE Credits in areas of professional practice
Expert speakers, who have been involved in the new law’s
formation, address many of the practical and thorny questions that
practitioners have raised about the law and the new statutory short
form, including:
- What do you do with Powers of Attorneys
signed before September 1, 2009, the effective date of the new
statute?
- Why was the new power of attorney
law enacted?
- How do you handle the new
law's default revocation provision both in the short form and
when executing non-statutory forms?
- What are the execution requirements for
the short form and the statutory major gift rider?
- Should a principal appoint a monitor as
the new law permits?
- Should a principal authorize
compensation for the agent as the new law specifically
permits?
- What specific
“modifications” should you consider in the statutory form
that address your client’s particular interests and
needs?
- What must be done to grant the agent
authority to make major gifts and other asset transfers?
- What interplay, if any, is there between
the HIPAA Privacy Rule and the new law’s authorization for the
agent to examine, question and pay medical bills?
- The new law has a statutory explanation
of the agent’s fiduciary duties; what steps must the agent take to
accept and exercise the appointment, even after the principal may become
incapacitated? How do you draft for the compensation of the
agent?
- What circumstances would give rise to a
third party, such as a “financial institution,” refusing to
accept a Power of Attorney, and how can acceptance of a Power of
Attorney be compelled?
- What changes will be made by the
technical corrections legislation?
Program Faculty
Chair and Moderator
Prof. Ira Mark Bloom
Chair, NYSBA Trusts and Estates Law Section
Justice David Josiah Brewer Distinguished Professor of Law
Albany Law School
Albany
Speakers
Rose Mary K. Bailly, Esq.
Executive Director
New York Law Revision Commission
Albany
Robert M. Freedman, Esq.
Mazur Carp Rubin & Schulman P.C.
New York City
Ronald J. Weiss, Esq.
Skadden, Arps, Slate, Meagher & Flom LLP
New York City
This program was recorded on Thursday, August 27, 2009
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