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Substantially Conform

The 2009 statutory form (with small modifications in 2010) was a major change from prior forms. Among other things, it introduced the "Caution to the Principal" and "Important Information for the Agent" sections to the statutory form, which are intended to warn principals of the consequences of executing a power of attorney and notify agents of their powers, duties, and responsibilities. That version of GOL 5-1505B(1)(d) required that a statutory power of attorney contain the "exact wording" of both the "Caution to the Principal" and "Important Information for the Agent" sections from the concurrent version of GOL 5-1513. As a result, a small typo in either section, or use of a 2009 version of the form instead of the 2010 version of the form, could invalidate the entire power of attorney, a harsh punishment.

The new version of GOL 5-1505B(1)(d) changes the exact wording requirement to instead only require the wording of these sections to "substantially conform" to the statutory wording. GOL 5-1501(n) now specifically states that "insignificant" typos or formatting errors, or the use of a prior version of these sections, may still be considered to substantially conform. This will assist in ease of use, especially by non-attorneys or attorneys not experienced in estate planning.