Power of attorney can you have two

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.

This will help in the event either parent is incapacitated and needs help through the durable power of attorney. An example is as follows:. Mom and dad are age 90 and having a few health issues and memory problems. They are both acting independently and are in charge of all decisionmaking. We also granted independent signature powers so they can act alone. Our planning in this situation is far preferable to the parents just naming each other because of a possible downturn at or around the same time.

This can help prevent crisis situations and stress for the family, to say the least. Consultation with a good attorney may help you figure the right way for your own situation, of course. If your children travel and are all trustworthy, for instance, then naming children and co-attorneys-in-fact with independent signature power can be just fine.

Durable Power of Attorney - Durable power of attorney remains in place before and after you become incapacitated.

Durable PoA is the most common type of power of attorney for estate planning purposes. It allows the person you name as PoA to make decisions without court intervention immediately, should you become incapacitated.

General Power of Attorney - This type of PoA gives the appointed individual near complete authority to make all decisions in your stead. It is most often employed with durable power of attorney in estate planning so that a medical or financial decision is made quickly. What Is A Competent Principal? Some other options to avoid conflicts between agents include: Having one person act as financial PoA and the other as health care PoA; Having one person act as both financial PoA and health care PoA; Assigning specific duties to each agent; Assigning a third party to be the deciding factor should the co-agents disagree; or Resolve the issue through mediation instead of the courtroom.

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Learn More About Our Firm. Similar Articles Heading. Kevin O'Flaherty. Meet the Owner. Open Hours Mon - Fri. The following are some examples of common scenarios where this issue arises. For the purposes of these examples, Jane Smith is a mentally competent year old woman who lives in Florida. If Jane drafted a POA having stated that she would like to appoint her daughter Mary as her agent, then Mary is the primary agent in this instance.

However, if Jane includes verbiage in the document having indicated that she wants her son David to service if Mary passes away, becomes incompetent, or is otherwise unable to serve, then David is the successor agent. This is true whether or not the document uses the term "successor agent. As long she can do so, however, David has no power to act on his mother's behalf.

If, instead of naming David as a successor agent , Jane names him as a co-agent, then David and Mary both have authority at the same time. A common issue in this scenario is whether David and Mary can act independently or if they must always act together. What the document says controls. If it is silent on the issue, state laws provide a default rule. The attorney listings on this site are paid attorney advertising. In some states, the information on this website may be considered a lawyer referral service.

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