There is a common misconception surrounding estate planning that the only document necessary is a will. While this is an imperative foundational document, it’s important to understand that there is a litany of estate planning tools that can help you obtain peace of mind for the future. One such document you should consider establishing is a power of attorney. However, one question many have about this option is whether or not they can appoint multiple power of attorney agents. The following blog explores what you should know about these matters and why working with Tampa power of attorney lawyers is in your best interest.
What Is a Power of Attorney?
A power of attorney is a legal document that allows you to appoint someone to make decisions on your behalf. Generally, a power of attorney is limited as to when they can act, often in the event you become incapacitated or unable to communicate your wishes. Additionally, your power of attorney can act on your behalf should you need to travel or deal with acute health issues.
You can choose to make your power of attorney “durable,” which essentially means it will remain in effect in the event you become incapacitated. This differs from a general power of attorney, which ends if you can no longer make decisions for yourself. However, you can make your power of attorney “springing,” which means that it will only take effect if certain conditions arise, like becoming incapacitated.
It’s important to understand that your power of attorney is not a decision that should be made lightly, as this individual will be able to make financial and medical decisions. As such, you should choose someone trustworthy, reliable, and responsible.
Can I Have Multiple Power of Attorney Agents?
In Florida, it is possible to name two people to serve as your power of attorney. This can offer flexibility in that you may wish to appoint one person for financial decisions and another to make medical decisions. You can specifically point these individuals to these roles. However, it’s important to understand that naming two people to serve the same purpose as your power of attorney is generally not recommended, as it can cause several issues.
When two people are responsible for making legal decisions on behalf of another person, it can result in conflict. For example, if they cannot agree on medical care, it can cause unnecessary delay and you run the risk of potential court battles to resolve these matters.
If you are ready to plan your estate, connecting with an experienced estate planning attorney is critical. At the Tampa Law Group, we understand how difficult these matters can be. That’s why our team is here to guide you through these times to help you make the most informed decisions possible for your future. When you need help, don’t hesitate to contact our experienced team today.
