2021 New York State 2021 Power of Attorney with Westchester County venue. This Power of Attorney is not intended for Interntional apostille use and should not be used if you are unfamiliar with agent/principal relationships.
Note that we have had signers call us after having their POA rejected by their bank. This is common and banks have the absolute right under § 644 of New York’s General Obligations Law to wait 10 days to even provide and answer.
So please, this is important, make sure you’ve reviewed you Power of Attorney a few times before submitting to a financial institution. If it’s “mission critical” that the Power of Attorney be instantly accepted and in “full force”, you’ll need to have a New York State attorney certify it. If the bank sees an attorney attached to the document, they will not “play games” as the civil penalties could be huge.
One common rejection we hear is banks asking for the “gift rider affidavit” or attachment. This rejection was common with the old 2010 Power of Attorney, but the new 2021 version eliminates this and includes the $5000 gift rider provision on page 3 section (g).
Remember we cannot assist you in preparing this document, but we can warn you of the issues that have come up with past clients.
download it here