Can you give powers of attorney to multiple individuals?

Monday, May 25 2015 02:44 PM

Q :

Is it possible to give powers of attorney to multiple individuals?

A : Can you give powers of attorney to multiple individuals?

The simple answer is yes. However, how you handle it will depend on what you are trying to accomplish.

It’s possible for a principal to name multiple attorneys-in-fact in one power of attorney document. The document can require the attorneys-in-fact to act together or authorize them to act independently. Naming multiple individuals might be appropriate when the principal has multiple children that assist them from time to time.Can you give powers of attorney to multiple individuals?

However, if the goal is to give each of the attorneys-in-fact different functions, multiple limited powers of attorney may be in order. For example one limited power of attorney can authorize someone to write checks from a specific checking account and another limited power of attorney can appoint a person to handle issues relating to an IRA or 401k. Each attorneys-in-fact powers are limited to the specific powers granted in the limited power-of-attorney.

 Christopher Yugo, 25 May 2015

 

 




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