LEGAL GUIDE
Written by attorney Elaine Siegmund

Power of Attorney and Statutory Gifts Rider

The first step to answer this question is to review the Power of Attorney document. A Power of Attorney is only as good as the specific powers listed within the document. Additionally, in New York, in order to make gifts in excess of $500 the principal must grant the agent the authority to make such gifts. This includes the execution of a Statutory Gifts Rider which supplements the Power of Attorney document. Therefore, in reviewing the Power of Attorney document your mother signed there must be this grant of authority to make gifts through a Statutory Gifts Rider. Your mother must have also granted your sister, as agent, the authority to gift to herself.

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