Does power of attorney require you to have co-agents?
A power of attorney does not require you to have co-agents, but you should have two or three alternate agent choices.
Attorney Tom Olsen: Shirley, you are on News 965 go ahead.
Shirley: Yes, I would like to know if the Florida law requires two agents or two persons to be on a power of attorney working together.
Attorney Tom Olsen: No. It does not require it. It can be done, but it is not required by law. So usually in a power of attorney somebody appoints-- Has a first choice, if that first choice can't do it, they have a second choice. If the second choice can't do it they have a third choice. Occasionally, somebody will have co-agents. Where they'll have two people as their agent in their power of attorney. When we have two people, we need to know we ask the client question--This. Does it require both of their signatures to transact business or can either one of them alone transact business? So co-agents potentially has two definitions, Shirley. Does that answer your question for you?
Shirley: Almost, if I have may name with another person on a power of attorney, we have to interact about decisions and then to make that decision we would have to both agree and then sign something. Is this correct?
Attorney Tom Olsen: That would be true, unless there's language otherwise it says either one of you alone can transact business, if there's no language then it would require both of your signatures to transact business. If you disagree then no business will be done.
Shirley: Okay. Good. Thank you for clarifying that.
Attorney Tom Olsen: Okay. Shirley. You're very welcome.