Can there be co-agents on a power of attorney such as sisters?

Full Question:

Can there be co-agents on a power of attorney or can there only be one named?
02/05/2007   |   Category: Power of Attorney   |   State: Illinois   |   #436

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).

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