What is the legal effect if I add a provision in my power of attorney that my three children must act jointly?
Full Question:
I wanna name my three children in a power of attorney of my estates in New Jersey. Can I execute a multiple power of attorney that gives them all equal power? What will be the legal effect if I add a provision that they have to act jointly?
02/15/2017 |
Category: Power of Attorney |
State: New Jersey |
#32202
Answer:
This is covered in N.J. Stat. § 46:2B-8.7 which reads:
“a. Unless the power of attorney expressly provides otherwise, all authority granted to multiple attorneys-in-fact may be exercised by the one or more who remain after the death, resignation or disability of one or more of the attorneys-in-fact.
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c. The power of attorney may provide that the attorneys-in-fact shall act jointly. If so provided then, subject to subsection a., the concurrence of all appointed attorneys-in-fact is required to exercise any power.
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