Can you name more that one child as your health care or financial agent on a power of attorney?

 

Transcript: Greg: I've got a mother, she's 95 years old, healthy as a horse, and she's got a durable power of attorney that she's had for 40 years. She's got three sons, the oldest son is named on the power of attorney. I guess that must have been the way it was that they named one and named the oldest. Attorney Tom Olsen: Okay. Greg: She asked whether she could add the other two sons to her power of attorney just because she'd like the three sons to vote if there's anything- Attorney Tom Olsen: I Got you. Greg-- Greg: -paramount. I'm not sure if that's an easy process or tough process. Attorney Tom Olsen: Greg, thank you for calling today. First of all, let's say this, a good financial, durable power of attorney is a critical document that everybody should have as part of their estate plan, so you're right. She's on the right track. She's got one now. Next of all, banks and other financial institutions, don't like old financial powers of attorney. Your moms is 40 years old, absolutely positively, she should redo that now especially while she's still competent and able to. Now, when it comes to naming her surrogates, her agent, Greg, she can name all three of her sons to be her agent on her financial power of attorney, and she could set it up either one of two ways. One way would say that to do business under this financial power of attorney, it requires a signature of all three of my sons or a majority, two of the three of my sons to transact business. She could also set it up to say that any one of my sons alone by themselves with just their signature can transact business. Greg, you are on the right track. Depending what your mom