When a person suddenly becomes disabled due to a disease or an accident, lots of questions appear. One of those questions is dealing with his finances and properties. For such cases, in the US, the Durable Power of Attorney (or DPA) form exists.
With the durable power of attorney form, you may assign several responsibilities to someone you trust. This person might be an agent that you have hired specifically for the matter. Another option is to designate your relative as an attorney: for instance, your brother or sister, child, husband, or wife.
However, if you want to appoint someone that will be your medical care representative, you should complete another paper. The DPA form shows only the one who will take care of financial matters in case of the principal’s inability to act (usually tied to a coma, a stroke, and other similar medical conditions).
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This form is called “durable” for a reason: the document is effective until the moment of the principal’s death. If you need to cancel the form or create a new paper, the only way is to revoke the existing document.
Basic requirements for this form prescribed in almost every state’s law are either notarizing the paper or calling a witness or two to sign it. The process also requires the sound mind of all signatories.
The New York state law obliges to notarize the DPA form; it is prescribed in section 5-1513 of General Obligations. According to state law, there is no need to call a witness for signing the DPA form in New York.
The template of the form in New York is more or less standard. However, in this state, unlike in the others, you may delegate additional responsibilities that are listed in the “Optional rider” below the main pages.
The DPA form itself contains six pages where you may choose the responsibilities for your agent or attorney. Among them are:
And other issues related to finances and properties of the principal.
You may choose all of the listed items or just a few: it depends on your wish. The important thing to do is to read all of the options carefully beforehand and determine the matters that you would like to delegate. Also, you should pick your agent or attorney wisely because he or she later might be responsible for serious actions regarding your property and money.
In New York, the local state law also describes the cases when the form becomes ineffective. They are additional to the death and revocation that we mentioned above. You may find them in section 5-1511.
Normally, the DPA form should be printed out in three copies. Remember that the document in New York needs to be notarized.
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DPOA templates are some of the most widely downloaded ones in the USA. Below are some of the more demanded durable POA papers.
For a successful form completion, we offer our instructions that will help to create a document step by step. To fill out the DPA form in New York, see our guide below.
1. Download the New York DPA Form Template
The completion of the DPA form begins with the template downloading. To simplify the template search, use our form building software.
2. Read the Caution Thoroughly
The first thing you will see in the DPA form in New York is a caution to a principal who will sign the document. It consists of the important details about the form and information about its purpose. As a principal, you have to read this caution carefully and understand everything that is written. If something is still not clear, you may talk to your lawyer to get rid of uncertainties.
3. Appoint Your Agent(s) or Attorney(s)
After you have read the caution, you can see the following section where you should insert the name of your chosen agent (or attorney). Firstly, add your full name and full address in the relevant lines. After this, insert your agent’s or attorney’s name and address. Finally, there is a line to insert one more agent’s or attorney’s data.
Designating two agents automatically means that they will act in tandem. There is a way to allow them to work separately: just place your initials below their names in the relevant line.
4. Appoint Your Successor Agent(s)
Here, you may add the names and addresses of your successor agent. This is the agent that will act if your initial agent is unavailable. In the DPA form in New York, you may add two successor agents. The form also allows you to opt for their separate action.
5. Add Succession Provisions
If you have any provisions for your successor agent(s), add them in this section.
6. Decide Your Agent’s Responsibilities
In this section, choose the cases where your agent will act instead of you if you are unable to do so. The list is more or less the same for all of the US states. In New York, you will choose from the following matters:
If you want to delegate every matter of the list, choose the option “O” of the section by placing your initials in the blank field on the left-hand side. To opt for separate matters, you may either put your initials next to every matter or list the letters below in the option “P.”
7. Add Instructions for Your Agent (If Needed)
Below the responsibilities, you may leave additional instructions and modifications for your agent or attorney. If you do not have any, leave this field blank and proceed to the next section.
8. Choose If You Complete the Statutory Gifts Rider
If you have decided to complete the supplement to the DPA form in New York, the “Statutory Gifts Rider,” place your initials here.
9. Appoint the Monitor
If you want to appoint the monitor who will control the actions of the agent, add the monitor’s name and address in this section. This person will be able to ask your agent about all the made and planned transactions and check the receipts.
10. State If Your Agent Gets Compensations
If you want to compensate for the work of your agent, opt for this point by placing your initials. To explain the conditions of the compensation, get back to the “Modifications” section.
11. Sign the DPA Form
Place your signature and the date of signing in the relevant lines.
12. Ask Your Notary to Verify
Below your signature, there should be a notary’s signature and seal (if applicable).
13. Give the DPA form to Your Agent or Attorney
After the notary’s signature, you will see the text that your agent has to read and accept. After the agent has read the text, and everything is clear, he or she has to sign and add the name. If there is more than one agent, all of them still should sign.
14. Ask Your Notary to Sign Again
Below your agent’s signature, a notary should sign again.
15. Ask Your Successor Agent(s) to Sign
Here, your successor agent (or agents) should sign.
16. Ask Your Notary to Verify
For the third time in this document, a notary should sign it below the successor agent’s signature.
17. Complete the Gifts Rider (If Applicable)
The Gifts Rider is a supplement to the form and is not mandatory. If you have decided to complete it, please note that this document requires notarization and two witnesses.
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