what states offer dual power if attorney

Every state requires the principal to sign a POA, but California, New York, and Vermont demand that the agent signs as well. The following states also need the agent to sign an acknowledgment form that signifies their understanding of their responsibilities: Delaware

Full Answer

Do I need a power of attorney for multiple states?

A power of attorney which does not provide for a successor attorney-in-fact to be appointed will terminate at the death of the attorney-in-fact. The person making the power of attorney appointment is called the principal. A power of attorney can be general, durable or limited. Some states have adopted a statutory power of attorney.

Which states require the principal to sign a power of attorney?

Signing. Every state requires the principal to sign a POA, but California, New York, and Vermont demand that the agent signs as well. The following states also need the agent to sign an acknowledgment form that signifies their understanding of …

Can a power of attorney have two replacement agents?

Jun 29, 2011 · 4121. A power of attorney is legally sufficient if all of the following requirements are satisfied: (a) The power of attorney contains the date of its execution. (b) The power of attorney is signed either (1) by the principal or (2) in the principal's name by another adult in the principal's presence and at the principal's direction.

How is a power of attorney governed by state law?

A power of attorney gives one or more persons the power to act on your behalf as your agent. The power may be limited to a particular activity, such as closing the sale of your home, or be general in its application. The power may give temporary or permanent authority to act on your behalf. The power may take effect immediately, or only upon ...

2 attorney answers

States generally honor an out of state POA. If you will use a California one, the requirements in California are:#N#4121. A power of attorney is legally sufficient if all of the following requirements are satisfied:...

Eliz C A Johnson

States generally honor an out of state POA. If you will use a California one, the requirements in California are:#N#4121. A power of attorney is legally sufficient if all of the following requirements are satisfied:...

What is a power of attorney?

A power of attorney gives one or more persons the power to act on your behalf as your agent. The power may be limited to a particular activity, such as closing the sale of your home, or be general in its application. The power may give temporary or permanent authority to act on your behalf. The power may take effect immediately, or only upon ...

What is a springing power of attorney?

The power may take effect immediately, or only upon the occurrence of a future event, usually a determination that you are unable to act for yourself due to mental or physical disability. The latter is called a "springing" power of attorney.

Can a power of attorney be revoked?

A power of attorney may be revoked, but most states require written notice of revocation to the person named to act for you. The person named in a power of attorney to act on your behalf is commonly referred to as your "agent" or "attorney-in-fact.". With a valid power of attorney, your agent can take any action permitted in the document.

Can an attorney in fact make gifts?

Gifts are an important tool for many estate plans, and your attorney-in-fact can make gifts on your behalf, subject to guidelines that you set forth in your power of attorney. For example, you may wish to permit your attorney-in-fact to make "annual exclusion" gifts (up to $14,000 in value per recipient per year in 2013) on your behalf ...

How long does a power of attorney last?

Today, most states permit a "durable" power of attorney that remains valid once signed until you die or revoke the document.

Who is Michael Douglas' wife?

Assume Michael Douglas appoints his wife, Catherine Zeta-Jones, as his agent in a written power of attorney. Catherine, as agent, must sign as follows: Michael Douglas, by Catherine Zeta-Jones under POA or Catherine Zeta-Jones, attorney-in-fact for Michael Douglas. If you are ever called upon to take action as someone’s agent, ...

Who is Jennifer Mueller?

Jennifer Mueller is an in-house legal expert at wikiHow. Jennifer reviews, fact-checks, and evaluates wikiHow's legal content to ensure thoroughness and accuracy. She received her JD from Indiana University Maurer School of Law in 2006.

What is an attorney in fact?

In the United States, when someone becomes unable to handle their own finances and other legal obligations, they may appoint someone as their agent or attorney-in-fact. Just as an attorney-at-law acts as your agent in a legal case, an attorney-in-fact acts as your agent in everyday matters. In some cases, two people may be appointed, creating dual ...

What is a mediator?

A mediator is an objective, neutral third party that assists in helping you and the other agent understand each other's positions and reach common ground. Let the other agent know that participation in mediation is voluntary, and the mediator isn't there to pick sides or decide who is right and who is wrong.

Why is mediation important?

Additionally, the mediator can help you find the peace and understanding you need to continue working together .

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.

Can you name alternate agents in a power of attorney?

It’s also a very good idea to name alternate or replacement agents in each power of attorney you create. A replacement agent will take over the original agent’s responsibilities if the original agent is no longer able or willing to serve. In fact, choosing two or more replacement agents is something you’ll probably want to do for each power of attorney you create .

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.

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.

What is a durable power of attorney?

A durable power of attorney, or POA, names another person to be your agent. This person can make decisions on your behalf if you become incapacitated, such as paying your bills and managing your investments. You can name a single person, two agents who must work jointly or two agents who can work separately. You may also name alternate agents ...

Can a guardian be appointed without a power of attorney?

Without a power of attorney document or court-appointed guardian or conservator, no one has the ability to act for you once you become incapacitated. The appointment process is governed by your state’s laws, but guardians typically look after your physical needs and conservators typically look after your financial decisions.

What is a power of attorney?

A power of attorney is a substantial legal document that allows you—as a principal—to appoint an agent (attorney-in-fact) to make certain decisions on your behalf. Whether it’s out of convenience or mental or physical illness, an agent has a responsibility to handle your medical, financial, or personal matters.

Can a principal be a power of attorney?

A principal can select one person to be their power of attorney agent and the other one to be that agent’s successor. Having a successor agent provides security in case the POA agent dies, resigns, or becomes incapacitated. The successor doesn’t have any authority over the principal’s assets and decisions if the agent is alive and capable ...

Can an agent act on your behalf?

One agent can always act on your behalf if the other one is out of town. Agents can divide the responsibility in the selling process. Agents can split duties. Possibility of disputes is always present. It can trigger fraud concerns with third parties (banks or credit card companies) It can cause logistical problems.

What is an attorney in fact?

The attorney-in-fact is expected to put your interests before their own and act in good faith and according to your expectations. The given powers, duration of the agreement, and other specifics of a power of attorney depend on your preferences and the POA type.