Do you support this bill?

Senate Bill S4549

2025-2026 Legislative Session

Relates to requiring principals to notify co-trustees and co-beneficiaries of the signing of a power of attorney

download bill text pdf

Sponsored By

Current Bill Status - In Senate Committee Rules Committee

Please enter your contact information

Home address is used to determine the senate district in which you reside. Your support or opposition to this bill is then shared immediately with the senator who represents you.

Optional services from the NY State Senate:

Create an account. An account allows you to officially support or oppose key legislation, sign petitions with a single click, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.

Include a custom message for your Senator? (Optional)

Enter a message to your senator. Many New Yorkers use this to share the reasoning behind their support or opposition to the bill. Others might share a personal anecdote about how the bill would affect them or people they care about.

Actions

Votes

2025-S4549 (ACTIVE) - Details

See Assembly Version of this Bill:
A8430
Current Committee:
Senate Rules
Law Section:
General Obligations Law
Laws Affected:
Add §5-1515, Gen Ob L
Versions Introduced in Other Legislative Sessions:
2021-2022: S8892, A4601
2023-2024: S3503, A7708

2025-S4549 (ACTIVE) - Summary

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.

2025-S4549 (ACTIVE) - Sponsor Memo

2025-S4549 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   4549
 
                        2025-2026 Regular Sessions
 
                             I N  S E N A T E
 
                             February 6, 2025
                                ___________
 
 Introduced  by  Sen. SKOUFIS -- read twice and ordered printed, and when
   printed to be committed to the Committee on Judiciary
 
 AN ACT to amend the general obligations law, in  relation  to  requiring
   principals  and beneficiaries to notify co-trustees and co-beneficiar-
   ies of the signing of a power of attorney

   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  The  general  obligations  law is amended by adding a new
 section 5-1515 to read as follows:
   § 5-1515. DUTY TO NOTIFY OTHER TRUSTEES AND BENEFICIARIES. 1.  WHEN  A
 PRINCIPAL,  WHO IS A TRUSTEE OF A TRUST, SIGNS A POWER OF ATTORNEY WHICH
 ALLOWS THE AGENT TO AFFECT SUCH TRUST AND THE AGENT IS NOT A  CO-TRUSTEE
 OF  SUCH TRUST, THE PRINCIPAL SHALL MAKE A GOOD FAITH EFFORT TO IDENTIFY
 AND NOTIFY IN WRITING ALL OTHER CO-TRUSTEES OF THE SIGNING OF A POWER OF
 ATTORNEY AND IDENTIFY THE PERSON ASSIGNED AS THE PRINCIPAL'S AGENT.
   2. WHEN A PRINCIPAL, WHO IS A BENEFICIARY OF A TRUST, SIGNS A POWER OF
 ATTORNEY AND THE AGENT IS NOT A CO-BENEFICIARY OF SUCH TRUST, THE  PRIN-
 CIPAL  SHALL NOTIFY IN WRITING ALL OTHER CO-BENEFICIARIES OF THE SIGNING
 OF A POWER OF ATTORNEY AND IDENTIFY THE PERSON ASSIGNED AS  THE  PRINCI-
 PAL'S AGENT.  IF THE PRINCIPAL CANNOT IDENTIFY OR CONTACT A CO-BENEFICI-
 ARY AFTER GOOD FAITH EFFORTS WERE MADE, THE PRINCIPAL MUST ATTEST TO THE
 EFFORTS MADE TO IDENTIFY AND/OR CONTACT CO-BENEFICIARIES.
   §  2.  This  act shall take effect on the thirtieth day after it shall
 have become a law.
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD08773-01-5

Comments

Open Legislation is a forum for New York State legislation. All comments are subject to review and community moderation is encouraged.

Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity, hate or toxic speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Attempts to intimidate and silence contributors or deliberately deceive the public, including excessive or extraneous posting/posts, or coordinated activity, are prohibited and may result in the temporary or permanent banning of the user. Comment moderation is generally performed Monday through Friday. By contributing or voting you agree to the Terms of Participation and verify you are over 13.

Create an account. An account allows you to sign petitions with a single click, officially support or oppose key legislation, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.