Power Of Attorney - Authorization To Make Major Gifts Or Other Transfers printable pdf download

N.Y. Statutory Short Form Power of Attorney

Page 1 of 3

Major Gifts Rider, Effective 9-1-09

"POWER OF ATTORNEY”

NEW YORK STATUTORY MAJOR GIFTS RIDER

AUTHORIZATION TO MAKE MAJOR GIFTS OR OTHER TRANSFERS

CAUTION TO THE PRINCIPAL: This OPTIONAL rider allows you to authorize your agent to

make major gifts or other transfers of your money or other property during your lifetime. Granting

any of the following authority to your agent gives your agent the authority to take actions which

could significantly reduce your property or change how your property is distributed at your

death. "Major gifts or other transfers" are described in section 5-1514 of the General Obligations

Law. This Major Gifts Rider does not require your agent to exercise granted authority, but when

he or she exercises this authority, he or she must act according to any instructions you provide, or

otherwise in your best interest.

This Major Gifts Rider and the Power of Attorney it supplements must be read together as a single

instrument.

Before signing this document authorizing your agent to make major gifts and other transfers, you

should seek legal advice to ensure that your intentions are clearly and properly expressed.

(a) GRANT OF LIMITED AUTHORITY TO MAKE GIFTS

Granting gifting authority to your agent gives your agent the authority to take actions which could

significantly reduce your property. If you wish to allow your agent to make gifts to himself or

herself, you must separately grant that authority in subdivision (c) below.

To grant your agent the gifting authority provided below, initial the bracket to the left of the

authority.

(____) I grant authority to my agent to make gifts to my spouse, children and more remote descendants,

and parents, not to exceed, for each donee, the annual federal gift tax exclusion amount pursuant to the

Internal Revenue Code. For gifts to my children and more remote descendants, and parents, the maximum

amount of the gift to each donee shall not exceed twice the gift tax exclusion amount, if my spouse agrees

to split gift treatment pursuant to the Internal Revenue Code. This authority must be exercised pursuant

to my instructions, or otherwise for purposes which the agent reasonably deems to be in my best interest.

(b) MODIFICATIONS:

Use this section if you wish to authorize gifts in excess of the above amount, gifts to other

beneficiaries or other types of transfers.

Granting such authority to your agent gives your agent the authority to take actions which could

significantly reduce your property and/or change how your property is distributed at your death.

If you wish to authorize your agent to make gifts or transfers to himself or herself, you must

separately grant that authority in subdivision (c) below.

(WLTIC Edition 8/13/09)

Power Of Attorney - Authorization To Make Major Gifts Or Other Transfers