luvflyin
Touchdown! Greaser!
Can two agents be named. Like Tom OR Harry?
Power of Attorney
- Thread starter luvflyin
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midlifeflyer
Touchdown! Greaser!
I have no idea of the rules in California but I'm not aware of any states that would prevent that. You may want to think about the best way to word the authority - what if they disagree? The most typical is either acting jointly or one a primary and the other when No. 1 is unable to act.
midlifeflyer
Touchdown! Greaser!
Out of curiosity, I looked at the statutory form power of attorney in California.
Sac Arrow
Touchdown! Greaser!
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How about a third. Dick?
luvflyin
Touchdown! Greaser!
It’s in Oregon. Here’s the situation. My sister is Agent. If she’s unable/unwilling to act then I become Agent. It goes on to say anyone MAY accept my saying she is unable/unwilling without further inquiry. Problem is it appears no Financial Institution like banks will do it. I wonder if changing ‘may’ to ‘shall’ would work. But I think that a better way might be just drop all that stuff and do the ‘or’ thang.
luvflyin
Touchdown! Greaser!
I knew that was coming. Hey, I see the Hurricanes are doing pretty good in the playoffs
midlifeflyer
Touchdown! Greaser!
I guess the bank wants more evidence of “unable or unwilling” that the substitute claiming so.
luvflyin
Touchdown! Greaser!
Yeah. If I was Bank I would to. Anyway, as far as you know, naming two Agents with ‘or’ is a legal thing to do, correct?
Lindberg
Final Approach
Specify that the have the power to act separately. And Bob's your uncle.
Most banks will not accpet a general POA anyways. They’ll want a specific POA for banking or financial transaction purposes.
midlifeflyer
Touchdown! Greaser!
I do not know whether or not there are specific rules in Oregon to cover the question.
luvflyin
Touchdown! Greaser!
The one we have is everything. Banking, buy and sell property, stocks, medical care It's about 3 pages long
luvflyin
Touchdown! Greaser!
Yeah. I suppose that could be added in. But the word 'or' should have that covered.
Clip4
Final Approach
Called a contingent agent.
With a contingent POA you can choose when it will come into effect. For example, you could have it come into effect only when you can no longer make your own decisions. You can give someone the authority to decide whether you are still able to make your own decisions
Give the bank the original, have them make a copy, and have the bank officer that copied it initial their copy, and give you a statement that they have a copy.
Then you do not have to bring the original every time you wish to do a transaction.
They will not be happy to do this. Ask what their standard compromise is, and they will grudgingly give their workaround for not having the original for every visit.
Banks can be a pain, and have way too many silly rules, so be persistent for the workaround solution.
Then you do not have to bring the original every time you wish to do a transaction.
They will not be happy to do this. Ask what their standard compromise is, and they will grudgingly give their workaround for not having the original for every visit.
Banks can be a pain, and have way too many silly rules, so be persistent for the workaround solution.
Lindberg
Final Approach
The best answer is to speak with an attorney licensed in Oregon. Any decent estates attorney would be able to answer this quickly.