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NY A08430
Bill
Status
5/15/2025
Primary Sponsor
Patrick Carroll
Click for details
AI Summary
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Requires principals who are trustees of a trust to make a good faith effort to identify and notify in writing all co-trustees when signing a power of attorney that affects the trust, if the agent is not a co-trustee
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Requires principals who are beneficiaries of a trust to notify in writing all co-beneficiaries when signing a power of attorney, if the agent is not a co-beneficiary
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Notifications must include identification of the person designated as the principal's agent
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If a principal cannot identify or contact co-beneficiaries after good faith efforts, they must attest to the efforts made to locate them
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Takes effect 30 days after becoming law
Legislative Description
Requires principals to make a good faith effort to identify and notify co-trustees and co-beneficiaries of the signing of a power of attorney including the identity of the agent where the agent is not a co-trustee or co-beneficiary.
Last Action
referred to judiciary
1/7/2026