New York passed a law making substantial revisions to the statutory form of Power of Attorney. Effective June 13, 2021, the Power of Attorney you sign must be this new legal document. If your Power of Attorney is more than 2 years old, or if other circumstances have changed in your life or in your agent’s or beneficiaries’ lives, such as retirement or retirement planning, changes in health condition or care needs, births, deaths, divorces, marriages, etc., it is a good time to review your estate planning documents to make this and any other necessary updates. Partner Marcus O’Toole-Gelo will also review all of the essential estate planning documents often pushed aside by both younger and older individuals, such as Health Care Proxy, Living Will and Last Will and Testament.
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