Can I name more than one agent under a power of attorney?

Question

I have two adult children and am considering naming both of them as agents under my financial power of attorney. I am unsure whether they should be allowed to act independently or whether every transaction should require both of them. What are the advantages and risks of naming coagents compared with one primary agent and one backup?

Soradin · Accepted Answer

You may be able to name joint or independent agents, but the document should avoid conflicting authority and practical delays. For the issue described here, a financial power of attorney authorizes an agent to handle specified financial matters. For the issue described here, a durable document is designed to remain effective during incapacity, while the exact powers, start date, and acceptance rules depend on state law and the document. This is a situation where professional review is particularly useful if the situation involves relatives, real estate, tax issues, or business ownership.

Can I name more than one agent under a power of attorney?

Soradin

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