Legal Word of the Day
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agent
an agent means a person granted authority to act as attorney-in-fact for the principal under a power of attorney, and includes the original agent and any co-agent or successor agent. Unless the context indicates otherwise, an "agent" designated in a power of attorney shall mean "attorney-in-fact". An agent acting under a power of attorney has a … Full Definition »

Power Of Attorney Legal Terms and Legal Words. Trusts & Estate Planning Terminology

agent
an agent means a person granted authority to act as attorney-in-fact for the principal under a power of attorney, and includes the original agent and any co-agent or successor agent. Unless the context indicates otherwise, an "agent" designated in a power of attorney shall mean "attorney-in-fact". An agent acting under a power of attorney has a … Full Definition »
Law topic: Power Of Attorney << Legal issue: Trusts & Estate Planning
capacity
'Capacity' means ability to comprehend the nature and consequences of the act of executing and granting, revoking, amending or modifying a power of attorney, any provision in a power of attorney, or the authority of any person to act as agent under a power of attorney. … Full Definition »
Law topic: Power Of Attorney << Legal issue: Trusts & Estate Planning
Monitor
Monitor is a new term approved by the NY legislature in 2008 in connection with the new Power of attorney laws of NY. The purpose of appointing a monitor is to prevent elder abuse and abuse of a power of attorney. A monitor can be appointed by the principal in the Power of attorney and is given the authority to request, receive, and seek to compel the … Full Definition »
Law topic: Power Of Attorney << Legal issue: Trusts & Estate Planning
power of attorney
Power of attorney means a written document by which a principal with capacity designates an agent to act on his or her behalf. … Full Definition »
Law topic: Power Of Attorney << Legal issue: Trusts & Estate Planning
SMGR
SMGR stands for a Statutory Major Gifts Rider. Statutory major gifts rider is a new term adopted by the NY Legislature in 2008. The Statutory major gifts rider (SMGR) must be a part of a valid NY Statutory Short Form of a Power of attorney. It means a document by which the principal (a person executing a Power of attorney) may supplement a statutory short … Full Definition »
Law topic: Power Of Attorney << Legal issue: Trusts & Estate Planning
Statutory major gifts rider
Statutory major gifts rider is a new term adopted by the NY Legislature in 2008. The Statutory major gifts rider (SMGR) must be a part of a valid NY Statutory Short Form of a Power of attorney. It means a document by which the principal (a person executing a Power of attorney) may supplement a statutory short form power of attorney to authorize an agent … Full Definition »
Law topic: Power Of Attorney << Legal issue: Trusts & Estate Planning
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Money MarketingCompliance practitioners have to mumble “conspiracy to defraud” every so often when an IFA ignores the interests and property rights of a vulnerable customer in favour of a family member with a power of attorney. Using such relatives' money to place in ... more »
Linex Legal (press release) (registration)Schiff Hardin partner Robert M. Freedman will present "The New York State Statutory Power of Attorney Short Form," a topic during this year's New York State Bar Association (NYSBA) Bridging the Gap program. Program faculty will speak from the New York ... more »
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