how to grant power of attorney to multiple people

Most power of attorney agreements include just one principal and one agent. If a principal decides to elect two agents, however, this is certainly possible--provided that the powers granted to each agent do not overlap. Joint Power of Attorney The principal can name two people as agents, called joint power of attorney.

Full Answer

What are the three types of power of attorney?

Types of Power of Attorney

• General Power of Attorney (GPA)
• Special Power of Attorney (SPA)
• Durable Power of Attorney

Who should get a power of attorney?

A power of attorney (POA) can be an important element of planning for your elderly parent’s future. It allows another person to take action on your parent’s behalf, ensuring bills get paid and medical decisions can be made in the unfortunate circumstance that your elderly parent is unable to do those things on their own or merely needs help with such tasks.

What is power of attorney and how does it work?

A power of attorney allows a person you appoint -- your "attorney-in-fact" or agent -- to act in your place for financial or other purposes when and if you ever become incapacitated or if you can't act on your own behalf. The power of attorney document specifies what powers the agent has, which may include the power to open bank accounts ...

Can a power of attorney have more than one agent?

While these documents are very useful, there are some practical limitations you should know about before you make a decision about the agent you choose through your power of attorney. It’s ok to choose more than one agent when you create multiple powers of attorney as long as you realize that each agent should have a particular responsibility.

What is a co-surrogate power of attorney?

Remember, your power of attorney is for financial and legal decision making while your health care decisions are subject to your advance directives.

Why do we advise more than one?

The reason why we do advise more than one is in the event of a conflict. With multiple named attorneys-in-fact, there is always the ability for people to conflict on decisions. Conflicts may mean paralysis as each decisionmaker can overrule the other and the only way out would typically be a guardianship proceeding.

Can you name more than one person on a power of attorney?

Yes, you can name more than one person on your durable power of attorney, but our law firm generally advise against it under most circumstances. First, there is no legal reason why you cannot name more than one person as your power of attorney - you can name 10 people if you want.

Can you name one person at a time?

Answer: no one (or everyone)! We prefer to name one person at a time in descending order - i.e., start at your spouse and move to children in order of priority or what have you. There is, however, a great exception to this rule: when you have an aging couple, it may be best to name your spouse and a responsible child as attorneys-in-fact. ...

Can a power of attorney prevent guardianship?

If you do not do things the right way, the power of attorney may not be able to prevent a guardianship, so think about things thoroughly!

Question

Can you have a shared power of attorney? My aunt named her son as agent and he misused funds. Then she appointed her nephew and he let her credit rating slip because he did not pay bills in a timely fashion.

Answer

When you make or change a durable power of attorney for finances, you are allowed to name more than one agent (or "attorney-in-fact," as this person is known in some states). If your aunt wants to name both niece and nephew, she may do so, but she will have to decide how they should carry out their duties.

Who Can Serve as a Power of Attorney

In Florida, any competent adult can be designated as a power of attorney. A financial institution with trust powers can also serve as a power of attorney if it has a place of business in Florida and is authorized to conduct trust business in Florida.

Florida Estate Planning Attorney

If you are in Florida and are interested in discussing estate planning, contact us today. If you are ready to get started on your Florida estate plan, you can do so here.

How to name two agents?

When naming two agents, the principal should include both agents in the same power of attorney agreement. All three parties should sign the document at the same time in the presence of two witnesses, and both agents will need their own copy of the signed agreement.

Can a principal name two people as agents?

The principal can name two people as agents, called joint power of attorney. It is imperative, however, that a principal does not make this decision simply to appease relatives. The decision should be the principal’s, and should be made because the principal believes it is the best decision for her care.

Can two people have the same power of attorney?

Can Two People Have the Power of Attorney for the Same Person? Most power of attorney agreements include just one principal and one agent . If a principal decides to elect two agents, however, this is certainly possible--provided that the powers granted to each agent do not overlap.

Can you draft separate power of attorney agreements for each agent?

Do not draft separate power of attorney agreements for each agent. Otherwise, the agreement created last will be the agreement that prevails, and only one agent will have power of attorney for the principal.

Can a husband and wife have a power of attorney?

Power of Attorney Between a Husband & Wife. Most power of attorney agreements include just one principal and one agent. If a principal decides to elect two agents, however, this is certainly possible--provided that the powers granted to each agent do not overlap.

What is a dual power of attorney?

A dual power of attorney or joint power of attorney is a legal document that gives rights and power to two named persons. These persons are referred to as agents or attorneys-in-fact, and they have the right to manage the financial affairs ...

What is a joint agent power of attorney?

Joint agents of a dual power of attorney are jointly responsible for carrying out their duties. When they are allowed to act independently, they are jointly and severally responsible.

What are dual agents?

Dual agents often have the same powers as those named in a single power of attorney. They may be authorized to convey legal title to property, negotiate and enter into contracts, and make payments to creditors.

Can a third agent break a tie?

There is no third agent to break the tie and choose one decision over another. As a result, a dual power of attorney can be written to allow agents to act independently. The principal has to expressly state that the agents can act on their own, and it may involve delineating specific powers for each agent.

Can a dual power of attorney make medical decisions?

Agents of a dual power of attorney may make medical decisions, including ending life support, for the principal. The requirement that both agents agree to all decisions made on behalf of the principal can be problematic. There is no third agent to break the tie and choose one decision over another. As a result, a dual power ...

What is an alternate agent in a power of attorney?

A replacement agent will take over the original agent’s responsibilities if the original agent is no longer able or willing to serve.

How to lessen problems with co-agents?

One way to lessen problems with co-agents is to allow each of them to act independently. However, this decision should not be made lightly. Created properly and with care, powers of attorneys can be useful and cost-effective planning tools.

Can a power of attorney have co-agents?

Co-Agents. Co-agents under a power of attorney have equal responsibilities. While this might seem like a good idea, it is usually not. The practical necessity of having each agent coordinate and come to an agreement on each decision they make means that appointing co-agents could backfire on you.

Do estate plans have powers of attorney?

A lot of estate plans include different types of powers of attorney. While these documents are very useful, there are some practical limitations you should know about before you make a decision about the agent you choose through your power of attorney.

Can you have more than one power of attorney?

It’s ok to choose more than one agent when you create multiple powers of attorney as long as you realize that each agent should have a particular responsibility. For example, if you create healthcare and financial powers of attorney, naming a different agent under each is fine. In fact, it’s probably a good idea in some situations because different people may be better at, for example, making financial decisions than others.

What is a joint and severally power of attorney?

What is a ‘jointly and severally’ power of attorney? In a lasting power of attorney, ‘jointly and severally’ means that your attorneys can make decisions together or act by themselves if they need to.

What is a power of attorney?

A power of attorney gives someone you trust the power to make decisions for you if you’re not able to make them. On the form to apply, you’re known as the ‘donor’. The person you’ve chosen to act for you is called your ‘attorney’.

What are some examples of decisions that all attorneys must agree on?

Typically, you choose certain decisions that all attorneys must agree on. For example, buying or selling property, or managing investments. For anything else, you let them act independently. Pros: Gives your attorneys flexibility on most things while ringfencing key assets.

What happens if a power of attorney doesn't make a new one?

If the person who made the power of attorney can’t make a new one, you’re in an awkward position. If the power of attorney says you need to make one or all decisions jointly… you won’t be able to act as attorney on those decisions without them. The replacement attorneys can step in, if the LPA names any.

What happens if one of your attorneys drops out?

It’s more flexible. And if one of your attorneys drops out, the remaining attorneys can still act. Your replacement attorneys, if you have them, will simply work alongside them.

What to do if you think an attorney is abusing their position?

If you think an attorney is abusing their position. If you think the person is in immediate danger, apply for an emergency or urgent court order. For example, if they need emergency medical treatment they cannot consent to. If the situation isn’t urgent, contact the Office of the Public Guardian. The details are here.

What is an example of an attorney acting independently?

Typically, you choose certain decisions that all attorneys must agree on. For example, buying or selling property, or managing investments. For anything else, you let them act independently.

Why is it important to name one child on a power of attorney?

It is also important that there be communication and trust among the agent (s) and other family members. Lack of communication with other family members may lead to suspicions and accusations of misconduct, even if there isn’t any. Sometimes clients are concerned that if they name one child on a power of attorney it may look like favoritism ...

What age can you have a durable power of attorney?

Although everyone over the age of eighteen should have a durable power of attorney, having someone you trust to act on your behalf is paramount.

Why is a durable power of attorney important?

A durable power of attorney is one of the most important estate planning documents and can save your family (and you) from problems and expenses if you become unable to handle your own affairs as a result of illness or accident.

Can you name more than one child as an agent?

So they may ask about naming more than one child as agent. This can solve some of the communication issues since all agents will have access to financial accounts and information. It’s also less likely that the appointed agent will abuse her power if she knows there’s oversight from others.

Should an agent be allowed to act separately?

Unless the client has real concerns about his agents acting without consulting one another, we typically recommend that the agents be permitted to act separately which allows for more flexibility. It will be much more efficient if either agent can write checks, deal with financial institutions and sign contracts.

What happens if a power of attorney co-agent disagrees with a principal?

If power of attorney co-agents disagree on a financial decision and the principal is mentally competent and not physically incapacitated, then the principal’s decision supersedes the representatives. The principal also has the authority to revoke an agent’s authority.

What is a principal in a power of attorney?

The principal is the individual who appoints a power of attorney. Another way to think of the principal is as the person a power of attorney is making the decisions for. A competent principal is still coherent and mentally able to make his or her own decisions. If power of attorney co-agents disagree on a financial decision and ...

Can you have two power of attorney?

The simplest option is to not give two people power of attorney. Or, if you must appoint two people, name one as the primary representative and the other as the secondary representative in case the primary becomes incapacitated. If you’re still concerned about the decisions of the primary representative, then you probably need to take another look ...

Can you name two daughters as co-agents for power of attorney?

Naturally, it may seem like a good idea to spread that authority to more than one person. You decide to name your two daughters as co-agents for power of attorney; they can share the burden.

Can a co-agent petition the court?

If two people are named as co-agents on a durable power of attorney and they are faced with a financial or health care decision that they can’t agree on, then the co-agents can petition the court to decide. In most case, this will be the probate court. The court will attempt to discern the principal’s wishes through any estate planning documents ...