NY Estate Law: Power of Attorney
A power of attorney (POA) is used to delegate legal authority to another party. The principal (the person signing the document) gives the agent or attorney-in-fact the authority to make legal decisions on his/her behalf including financial and property determinations. In essence, the agent takes fiduciary responsibility for the principal’s estate.
Although useful, the process of giving someone power of attorney is not without potential legal pitfalls. The potential for financial abuse is an obvious threat. The agent is subject to many of the same rules of conduct as a normal fiduciary. Self-dealing, embezzlement and giving inappropriate gifts are examples of how a power of attorney can be abused. As the New York State Attorney General’s Office asserts: “Without a trustworthy Agent, a Power of Attorney becomes a dangerous legal instrument, and a threat to the Principal’s best interests.”
Schwartzapfel Truhowsky Marcus P.C. has extensive litigation experience successfully representing clients disputing the actions of agents and attorneys-in-fact operating with powers of attorney. We can contest a power of attorney transfer on procedural (incorrect signatures/witnesses) or medical grounds, and attempt to have the POA revoked.
Schwartzapfel Truhowsky Marcus P.C. has litigated estate cases in the Surrogate’s Court, the Federal District Court, New York Supreme Court, the Appellate Division and the Court of Appeals, and represents the Public Administrator of Suffolk County.
If you suspect that an agent has misused their power of attorney or believe that an estate’s assets have been handled incorrectly, unfairly or illegally, please call us at (877) 398-6079 or fill out our online contact form for a free case evaluation.
