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Yes, it is called co-powers of attorney or joint powers of attorney.
It is possible to execute a joint power of attorney where you can name more than one person as your agent. You must decide if the power will be shared, whereby they must act together, or if it will be independent, whereby each has full power to act independently of the other. Shared powers work best when the agents have a good relationship and compliment each other. You can also split the authority where each has power over a certain aspect of your affairs. Independent agents work well when each has particular skills. Whatever scheme you choose should be discussed with your proposed agents and with your attorney and should be clearly set forth in the power of attorney document.
A POA grants sweeping powers and should be drafted by an attorney. Your agent(s) will have complete access to your assets and will need to be capable of keeping a good record of their actions, especially of all the money coming in and all the money going out. They must be trustworthy, organized, intelligent, reliable and act in a professional manner where your finances and property are concerned.
What else can I help you with?
The 3 types of Powers of Attorney are?
There are two main types of powers of attorney, durable and nondurable, and two subclasses within those types (immediate and "springing").
Can a person have two powers of attorney in Indiana?
A person can grant as many power of attorneys as they wish. However, it can get confusing and cause problems if they are trying to accomplish different things.
What are the consequences if a person named as Power of Attorney abuses the scope of the powers?
Question?
What is power of attorney and does it remain in place after the death of the person for which it was obtained?
The power of attorney represents a living person in business matters. The power of attorney will always end with the death of the grantor.
What are the different types of Power of Attorney?
There are two main types of powers of attorney, durable and nondurable, and two subclasses within those types (immediate and "springing").
What court oks a power of attorney?
Powers of Attorney do not need to be approved by a court. Any person can execute a Power of Attorney to appoint a personal agent. Courts appoint guardians.
CAN YOU HAVE TWO PEOPLE AS HEALTH CARE POWER OF ATTORNEY?
A general Durable Power of Attorney provides the attorney-in-fact with broad powers. However, a person can execute a Power of Attorney that specifically limits the powers and duties of the attorney-in-fact. It can be tailored to exactly meet the needs of the principal and it should be drafted by an attorney. A separate health care proxy that names a different individual could be drafted at the same time by the same attorney who can make certain the desires of the principal have been properly expressed and addressed and the powers of the two agents do not overlap.
Can someone with powers of attorney sign another power of attorney on behalf of the person the original power of attorney is for after they have died?
No. A POA can only be executed by the principal and it ends upon the death of the principal.
Do a husband and wife have to have separate powers of attorney?
It would be smart to have a separate person for each. There may be times when a single person might not represent them equally.
Can a husband who is 71 give his lady friend power of attorney over his wife even though she already has a power of attorney made out when they made their wills together?
A living person can change their power of attorney at any time. Previous powers of attorney will become void.
What kind of power of attorneys are they?
There are two main types of powers of attorney, durable and nondurable, and two subclasses within those types (immediate and "springing").
How do you give someone power of attorney?
To give someone power of attorney, you must complete a legal document called a power of attorney form. This form specifies the powers you are granting to the person, known as the agent or attorney-in-fact, to act on your behalf. The form must be signed and notarized to make it legally binding. It is important to carefully consider who you choose as your agent and to clearly outline their powers and responsibilities in the document.
