LexisNexis® Legal Newsroom
Bloom and LaPiana on New Power of Attorney Legislation for New York

Ira Bloom and William LaPiana provide in-depth analysis and explanation of the extensive changes to New York's Power of Attorney law, GOL Art. 5 Title 15, effective Sept. 1, 2009. Forms of the new Statutory Short Form Power of Attorney and Statutory Major Gifts Rider are included. In addition, the...

Problems with New York’s New Power of Attorney Law

New York enacted a new power of attorney law in 2008, effective September 1, 2009. The new law contains major changes relating to both the content and the execution of the power of attorney form, including an acceptance by the agent. If a principal wants his or her agent(s) to make major gifts, it will...

William LaPiana on the New York Power of Attorney Amendments

In this Analysis, William LaPiana discusses the controversy over the 2009 amendments to New York's Power of Attorney law, sets forth the new amendments to that law, and provides forms for the Statutory Short Form Power of Attorney and the Statutory Gifts Rider that will be effective if the amendments...

The Case for Naming a Power of Attorney for an IRA

People who have signed and funded revocable trusts have a decreased need for financial powers of attorney because the Trust has within it a mechanism to change the Trustee (manager) of the Trust on the death, resignation or incapacity of the Creator of the Trust. But IRAs (and other retirement plans...

Legal and Practical Reasons for Incorporating Advance Directives Into Healthcare Practice

By Nathan A. Kottkamp, Partner, McGuireWoods LLP With the costs of healthcare continuing to rise, and with care at the end-of-life constituting a disproportionate share of total healthcare dollars spent in the U.S., the role of advance directives is among the hotly debated topics in the national...

Avoid a Guardinaship - Acquire a Power of Attorney

Many times estate planning is focused on "what happens when I die"? Often overlooked is the element of estate planning for while you are alive - namely designating and empowering someone to make decisions for you if you can't make them for yourself. Guest blogger Stacey Crowell Maiden,...

Military Service Members Resources - Military Power of Attorney and Military Advanced Medical Directives

Under the "learn something new every day" heading, Pet Trust Law Blog reports today on a federal statute providing for a Military Power of Attorney for service personnel. The statute ( US Code Title 10, Section 1044b ) providing for Military Powers of Attorney has some interesting provisions...

You’re POA For Mom/Dad And They Have a Trust… Can You Change The Trust?

This question comes up frequently... Someone is the power of attorney for someone else, let's say mom or dad, and the POA wants to change mom or dad's trust (in their capacity as power of attorney) to conform to some new wish of mom or dad. Can the POA holder do so after mom or dad has become...

New Jersey Court Holds that an Unrelated Agent under a POA Lacks Standing to File a Lawsuit Seeking Guardianship of the Principal (Apr. 12, 2011)

In In re Nova , 2011 N.J. Super. Unpub. LEXIS 946 (Ch.Div. Apr. 12, 2011) [ enhanced version available to lexis.com subscribers / unenhanced version available from lexisONE Free Case Law ], Costa Nova, the alleged incapacitated person, revoked a power of attorney and advanced directive for health care...

College Bound Checklist should include a Power of Attorney and Living Will...

The Wall Street Journal recently reported five pieces of advice from financial advisors for families of college-bound children to consider. #5 on the list: Help children protect their health and finances from uncertainty and risk. Veronica Dagher reports: Once a child turns 18, parents no longer...

The New Power Of Attorney - Issues Related to the Timing of the Agent’s Signature

By: David R. Schoenhaar, Esq.* New York significantly revised the statutory power of attorney in 2009 primarily to discourage fraud and other perceived abuses in elder care and estate planning. Unfortunately, many unintended consequences emerged from these sweeping changes. The fallout created...

When a Power of Attorney isn't Enough a Guardianship may be Needed

We always encourage our estate planning clients to execute comprehensive Powers of Attorney and Living Wills/Advanced Health Care Directives to appoint surrogate decision makers of their choosing to handle financial and medical affairs during their life, along with their Wills, which address disposition...

James P. Cox III on Virginia's Adoption of the Uniform Power of Attorney Act

The Uniform Power of Attorney Act (UPOAA), promulgated by the National Conference of Commissioners on Uniform State Laws (NCCUSL), is intended to provide a cohesive body of law to the law of agency. In this Analysis, James P. Cox III discusses Virginia's recent adoption of the UPOAA. He writes: ...

The 2011 Florida Power of Attorney Act

On October 1, 2011, the new Florida Power of Attorney Act (the "Act") will go into effect. Major changes under the Act include the following: (i) banking and investment powers do not need to be enumerated to be authorized; (ii) the authority to amend a trust on behalf of the principal will...

Taking Over Aging Parents' Finances

As our parents age, there is an almost inevitable probability that they will require assistance with financial or health issues. One or both parents may become ill or incapacitated and unable to keep up with their financial affairs as their mental and physical abilities decline. This can mean that bills...

Income Deduction of Estate Planning Fees

With April 15 th approaching, it reminds us of the need to file our income tax returns. When preparing estate planning documents, clients often ask, "are these estate planning fees deductible?" The cost to do a simple Will, Power of Attorney and Medical Directive are personal expenses and...

Marilyn Maag on Ohio's Uniform Power of Attorney Act

Effective March 22, 2012, Ohio adopted the Uniform Power of Attorney Act (§§ 1337.21 to 1337.64 of the Ohio Rev. Code). The changes apply to all powers of attorney except a power of attorney that is coupled with an interest in the subject of the power, such as powers given to a creditor; to...

Florida Makes Power of Attorney Documents More Dangerous

With the recent changes to the Florida Statutes, it is even more dangerous to use Powers of Attorney documents created by online systems or found in forms books. Not only is there a big risk that they will not comply with the new Florida laws and be worthless, but if they are valid, you run a big risk...

NC POA Case Shows It's Better to Plan in Advance

A recent North Carolina Court of Appeals decision affirmed the Superior Court verdict that an agent under a power of attorney did not breach his fiduciary duty to his aunt, Doris King or unjustly enrich himself at her expense. Albert v. Cowart, et al . Even though the defendants prevailed in this case...

2012 Statutory Changes to the MI Power of Attorney

By Prof. Dustin Foster and Prof. Emily Horvath* 2012 PA 141, effective on May 22, 2012, amended MCL 700.5501 . However, a detailed reading of MCL 700.5501 reveals that the amendment is effective in two parts: sections 2-6 are only applicable to those DPOAs executed after October 1, 2012. This amendment...

Both Attorneys and Courts are Tired of Financial Institutions’ Refusal to Accept Powers of Attorney

Banks Often Refuse to Accept Powers of Attorney One of the things that's becoming more and more frustrating for trusts and estates lawyers in Florida is the refusal of banks and other financial institutions to accept properly drafted powers of attorney. A power of attorney is a document...

Updated Model Florida Durable Power of Attorney Forms

By Susan Calistri Boesger J.D. LL.M. This EIA provides two updated model Florida Durable Power of Attorney forms. One form provides estate planning provision and one does not. The EIA also provides some general information to consider when using the forms. Excerpt: Considerations In...

Houston, We Have A Problem…Is The Standard Mass. Notary Acknowledgment Problematic for POA’s?

Court Points Out Potential Problem with Standard Notary Acknowledgment Form Could the the standard form notary acknowledgment clause used in virtually every recent Massachusetts deed, mortgage and other recorded instrument be defective in certain situations involving power of attorneys? That may be...

Ask Liza: What to Do When One Parent Lacks Capacity

Dear Liza, my parents do not have a living trust in place. I need to help them set one up. My father and mother are 91 and 83 respectively. My father has a form of dementia that prevents him from making decision about his property. My Mother is fully capable. Does my Mother have the right to make decisions...

Qualified Terminable Interest Property (QTIP) Trust Basics

The Qualified Terminable Interest Property (QTIP) Trust was a creation of ERTA-1981 pursuant to IRC § 2056(b)(7) which qualifies for the marital deduction, even if the surviving spouse is not given a general power of appointment during life or at death. Under a QTIP Trust, the surviving spouse need...