What Is the Verdict—Can You Have More Than One Power of Attorney?
Giving away the power over your assets and decisions to someone is risky and can be overwhelming. Selecting the right person for such a task is of utmost importance. What if you want your daughter to handle your medical decisions and your business partner to take care of financial matters? Can you have more than one power of attorney (POA)? You can find all the answers in this article!
Powers of attorney are difficult to create. That’s why you should register for DoNotPay and let us make it for you!
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. 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.
A power of attorney can be:
The authority of a power of attorney is in effect as long as the person who granted the authority is alive.
The short answer is yes. You can have two, three, or ten people as your agents if that’s what you want. The real question is—should you? The more agents you have, the more reasons for feuds and disputes. This could lead to severed relationships between the agents and conflicts when making important decisions.
Yes. It is common for two siblings to have shared power of attorney. Parents usually do this to be fair to all of their children and avoid conflicts between them, which can sometimes backfire. You should consider the relationship between the siblings before deciding whether to make one or all of them agents.
Here are a couple of important aspects of selecting only one child as an agent:
- The sibling named as the attorney-in-fact should understand the amount of responsibility they have now
- Other siblings must respect the arrangement
Powers of attorney can vary significantly depending on the type, granted powers, the governing state, and other specifics. Determining who has the most power in multiple-agent POAs is not simple. Not every POA with multiple agents is the same because the relationships between the agents aren’t. Here are the most common multiple-agents relationships, based on their roles in the POA:
- Agent and successor agent
- Joint agents vs. co-agents
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 of handling their responsibilities.
You can choose two or more agents to act together on your behalf. They can act jointly or independently. Joint agents have to agree on everything and make decisions together to act in the principal’s best interest. Unlike them, co-agents or concurrent agents have the right to make decisions and act separately on any of the powers from the POA document.
If you’re not sure if you should grant the power to more than one agent, take a look at the pros and cons table below:
|Pros of Having More Than One Attorney-in-Fact||Cons of Having More Than One Attorney-in-Fact|
Writing a power of attorney letter can cost you a fortune if you hire a lawyer to do it. Another way to make POAs is by using online templates, which are often free but too general and not so reliable. You don’t have to go through all that trouble to make a POA document—DoNotPay will help you!
Our Power of Attorney product is convenient and easy on the budget. We can generate a rock-solid POA document for you in three steps! After you access DoNotPay, follow these steps:
- Locate the Power of Attorney tool
- Answer our chatbot’s questions
- Choose if you want to get your POA notarized in our app
You will receive a personalized power of attorney document and two notices.
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