New York Power of Attorney POA-1 is a type of durable power of attorney document that grants an individual the authority to manage another person's financial affairs. This type of document is typically used when the granter (the person granting the power of attorney) is unable to manage their financial affairs themselves. The two types of New York Power of Attorney POA-1 are General Power of Attorney and Limited Power of Attorney. A General Power of Attorney allows the attorney-in-fact (the person appointed to handle the granter's financial affairs) to manage all the granter's financial transactions, including banking, taxes, investments, contracts, real estate, and insurance. A Limited Power of Attorney, on the other hand, only allows the attorney-in-fact to manage specific financial transactions as outlined in the document. New York Power of Attorney POA-1 must be signed by the granter in the presence of two witnesses and a notary public in order to be valid. It is important to note that the document must be updated regularly in order for it to remain valid.