On June 12, 2021, New York’s new Power of Attorney law (A.5630-A/S.3923-A) went into effect. As a reminder, the law simplifies New York’s Power of Attorney form and implements penalties for improper rejection of a New York Power of Attorney by third parties. A Power of Attorney that was executed under a prior version of
Power of Attorney
New York Modifies Power of Attorney Law to Simplify Form
Marta J. Paczkowska, Law Clerk at Cole Schotz, co-authored this blog.
On December 15, 2020, Governor Andrew Cuomo signed a bill into law that simplifies New York’s Power of Attorney form and implements penalties for improper rejection of a New York Power of Attorney by third parties.
The new law (A.5630-A/S.3923-A), which goes into effect…
Considerations in Estate Planning for Bitcoin, Ethereum, and other Crypto-Currencies
While success in crypto-currency investing is far from assured, death, sadly, is. Accordingly, it is vital that investors in Bitcoin and other crypto-currencies are prepared for the unique estate planning factors that apply to digital assets. The following are five estate planning factors that should be addressed immediately by crypto-currency investors to ensure that their…
As Your Young Adults Leave for College, Add a Power of Attorney and Health Care Directive to the Packing List
The fall is upon us: is your new or soon-to-be adult (child) going off to college? Besides taking with him or her the extra long sheets and a new credit card, should your child be leaving you with something too: the right to control his or her finances and medical decisions?
When a child reaches…
Power of Attorney Permits Revocation of Living Trust in New Jersey
An agent acting under a power of attorney can revoke an existing trust created by the principal and transfer assets to a new trust, a New Jersey Chancery Court has held.
Mildred Quick Muller created a revocable trust that was amended and restated in 1998. JP Morgan Chase was the trustee. In 2010, at age…