NEW YORK, May 25, 2021 / PRNewswire / – Blumberg announces an important update to its New York state power of attorney forms. This update corresponds to the changes to the Power of Attorney Act that will come into force June 13, 2021. Courts have relied on it for over 100 years Blumberg Powers of attorney forms. The distinctive mark and use in countless transactions have become the trusted choice of lawyers and the finance, real estate, business and healthcare industries.
The changes to the existing law are intended to simplify a very complex area of law. They make it easier for everyone involved in a transaction with proxy to comply with the law.
- The new forms remove the “legal gift tab” requirement and allow such gifts to be included in the form itself.
- The amount that the nominated representative is allowed to give increases $ 500.00 to $ 5,000.00 yearly.
- The change enables a third party to sign on behalf of a client who cannot sign in his own name as long as the person signing has been requested to do so by the client.
- The legal form must be accepted by banks and other financial institutions. whereas such institutions could previously impose their own strict requirements and acceptance standards. Now any institution that inappropriately delays / refuses to maintain or respond to a properly executed form can be sanctioned by a court of law.
- According to the amended law, the power of attorney forms do not have to contain a language that is identical to the legal form as long as they essentially correspond to that language.
These changes make it easier for individuals to appoint an attorney, the attorney to respond to the power of attorney, and the recipient to rely on the power of attorney to be valid. However, it also requires a knowledgeable professional to meet the basic requirements. It also takes great care to ensure that the form is executed properly and with the knowledge and consent of the client.
The Blumberg power of attorney forms can be completed and downloaded in PDF format at www.blumberglegalforms.com:
Form 43 – Legal form, modified, not permanent, affidavit, 6-21, 6 pages.
Form 44 – Statutory, permanent, without an affidavit, 6-21, 5 pages,
Form 49 – Legal form, permanent, modified, effective at a later date, with affidavit, 6-21, 7 pages.
Form 51 – Legal form, permanent, with affidavit, 6-21, 7 pages.
Blumberg printed forms are available from office supplies dealers and from Blumberg:
Form M44 – Statutory, permanent, without an affidavit, 6-21, 5 pages.
Form M51 – Legal form, permanent, with affidavit, 6-21, 7 pages.
Founded in 1887, BlumbergExcelsior, Inc. is a leading provider of legal products, corporate kits, and services used by lawyers, businesses, and consumers.
Media contact:
BlumbergExcelsior, Inc.
Eddie Burlem
800 221-2972 x1612, [email protected]
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