NEW YORK STATE POWER OF ATTORNEY
I, [Your Name] (hereinafter referred to as the "Principal"), residing at [Your Company Address], hereby appoint [Attorney's Name] (hereinafter referred to as my "Attorney-In-Fact") residing at [Attorney's Address], to act in my capacity to do every act that I may legally do, under the laws of the state of New York.
I. EFFECTIVE DATE AND DURATION
This Power of Attorney shall become effective immediately upon execution and shall remain in effect until revoked by the Principal or terminated by operation of law.
II. REVOCATION CLAUSE
The Principal reserves the right to revoke this Power of Attorney at any time by providing written notice to the Agent. Additionally, this Power of Attorney shall be automatically revoked upon the death or incapacitation of the Principal.
The Principal retains the authority to revoke this Power of Attorney at any juncture, contingent upon furnishing written notification to the Agent.
In the event of the Principal's demise or incapacitation, this Power of Attorney shall automatically lapse, rendering it null and void.
Termination of this Power of Attorney is within the purview of the Principal, who may effectuate such termination by written communication to the Agent.
The Principal holds the prerogative to revoke this Power of Attorney unilaterally, provided that written notice is duly furnished to the Agent.
Automatic revocation of this Power of Attorney shall occur upon the occurrence of the Principal's demise or incapacitation, obviating the need for further formalities.
III. SPECIFIC POWERS
The Agent is authorized to undertake the following actions on behalf of the Principal:
Financial Management: To manage, invest, and disburse funds held in the Principal's bank accounts, retirement accounts, investments, and other financial assets.
Legal Affairs: To initiate, defend, settle, or negotiate legal proceedings, contracts, and agreements on behalf of the Principal.
Healthcare Decisions: To make medical decisions, including consent to treatment, access to medical records, and selection of healthcare providers, under applicable laws.
IV. INCAPACITY PROVISION
Should the Principal become incapable or unable to make decisions, this Power of Attorney will persist, allowing the Agent to keep acting on the Principal's behalf as authorized in this document. A capable healthcare professional will determine incapacity.
Continuation of Authority: In the event of the Principal's incapacity or inability to make decisions, this Power of Attorney remains in effect, empowering the Agent to continue acting on behalf of the Principal as specified in this document.
Determination of Incapacity: Incapacity will be determined by a competent healthcare professional, as outlined in this Power of Attorney. Upon such determination, the Agent's authority will remain intact to manage the Principal's affairs.
Continuous Representation: Even in cases of the Principal's incapacity, the Agent's role and authority under this Power of Attorney persist, ensuring seamless representation and decision-making on behalf of the Principal under the provisions herein.
V. GOVERNING LAW
The governance and interpretation of this Power of Attorney will be primarily influenced by and carried out under, the statutory laws and legal precedents established in the state of New York.
VI. MISCELLANEOUS PROVISIONS
Third-Party Reliance: Third parties may rely upon this Power of Attorney as if directly executed by the Principal.
Indemnification: The Agent shall be indemnified and held harmless by the Principal for any actions taken in good faith according to this Power of Attorney.
Successors and Assigns: This Power of Attorney shall be binding upon the successors, assigns, heirs, and personal representatives of the Principal and shall inure to the benefit of the Agent and their successors.
In witness whereof, the Principal has executed this Power of Attorney on this [Effective Date].
VII. Signatures and Notary
Acknowledgment of Principal
This Power of Attorney shall be effective immediately upon my signature and shall remain valid until my explicit and written revocation.
[YOUR NAME]
[DATE]
Acceptance of Agent
I, [ATTORNEY'S NAME], acknowledge that I have read and understood the terms and responsibilities outlined in this Power of Attorney document. I accept the appointment as Agent and agree to act under the instructions and limitations provided herein.
[ATTORNEY'S NAME]
[DATE]
NOTARY ACKNOWLEDGEMENT
On this day of in the year , before me, a Notary Public in and for said County and State, personally appeared [YOUR NAME], known to me to be the person whose name is subscribed to the foregoing instrument, and acknowledged that they executed the same for the purposes therein contained.
Witness my hand and official seal.
[NOTARY PUBLIC'S NAME]
My Commission Expires:
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