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Powers of Attorney in New York

posted Dec 4, 2012, 4:45 PM by Bryan Berson   [ updated Sep 13, 2014, 6:08 PM ]

A power of attorney (“POA”) is an extremely powerful document. A principal uses it to authorize an agent to make financial or business decisions for the principal.

A principal can authorize an agent to handle, among other things, (a) real estate, (b) goods and personal property, (c) bonds, stocks, and commodities, (d) banking, (e) business operations, (f) insurance, (g) estate matters, (h) litigation, (i) gifts (up to $500), (j) government benefits, (k) health care bills, (l) retirement benefits, and (m) taxes.

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