Can I Name Two Agents in a Power of Attorney?
Full Question:
Can I list both of my sons as agents on a POA, not one first then the second, but the two as one son or the other son?
07/12/2009 |
Category: Power of Attorney |
State: New Mexico |
#17500
Answer:
Yes, but when two people are appointed by the principal to act as attorney in fact, it is important to determine if both have to act together or if either can operate independently of the other. This should be set forth in the instrument itself.
An agency conferred on two or more persons, in the absence of a clear showing of a contrary intent, must be exercised only by the unanimous action of the designated agents. However, the presumption will give way to a clearly expressed intention that the agents will have the authority to act independently (i.e., both severally and jointly).