Can I Name Multiple People as My Power of Attorney?

A durable power of attorney is an important part of your estate plan. Under a durable power of attorney, you (the principal) appoint a third party (your agent) to act on your behalf in financial matters. A power of attorney can grant wide powers or can be made to grant only a specific power or set of powers. You decide how much power you want to grant to your agent(s).

In the state of Florida, you can name multiple people to act as your agent under your durable power of attorney. Unless the power of attorney provides otherwise, each co-agent can exercise authority independently and does not need to consult with the other.

However, if a power of attorney requires that the two or more agents act together as co-agents, they must do so. One of the main issues with such a requirement is if both agents are not available.

Who Can Serve as a Power of Attorney

In Florida, any competent adult can be designated as a power of attorney. A financial institution with trust powers can also serve as a power of attorney if it has a place of business in Florida and is authorized to conduct trust business in Florida. Because of the sensitive nature of the power of attorney, it is important that you select someone who you trust. You will also want to have open lines of communication with your appointed agent(s) so they are able to act in your best interest.

Your appointed agent(s) will have full authority to carry out the purpose of the power of attorney. While an agent may be liable if they breach the fiduciary duty for acting outside the scope of the power of attorney, you want to try to prevent that from happening.

Florida Estate Planning Attorney

If you are in Florida and are interested in discussing estate planning, contact us today. If you are ready to get started on your Florida estate plan, you can do so here.