Powers of Attorney after Act 95 (Part I)

House Bill 1429, which makes a number of changes to the form and effect of powers of attorney, was signed by Governor Corbett on July 2, becoming Act 95 of 2014. The more important changes made by Act 95 include new requirements for witnesses and notarized acknowledgements, changes to the notice to the principal and the required acknowledgements by agents, new limits on the liability of third parties in order to reverse the reasoning of the Supreme Court in the Vine decision, new limits on the power of agents to make gifts and other estate planning actions, and a revision and restatement of the duties and liabilities of agents.

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