Full question:
I wanna name my three children in a power of attorney of my estates in New Jersey. Can I execute a multiple power of attorney that gives them all equal power? What will be the legal effect if I add a provision that they have to act jointly?
- Category: Power of Attorney
- Date:
- State: New Jersey
Answer:
In New Jersey, a person can execute a multiple power of attorney that allows multiple attorneys-in-fact to exercise the power conferred by it. If the power of attorney has a provision that the attorneys-in-fact must act jointly, then the concurrence of all appointed attorneys-in-fact is required to exercise any power.This is covered in N.J. Stat. § 46:2B-8.7 which reads:
“a. Unless the power of attorney expressly provides otherwise, all authority granted to multiple attorneys-in-fact may be exercised by the one or more who remain after the death, resignation or disability of one or more of the attorneys-in-fact.
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c. The power of attorney may provide that the attorneys-in-fact shall act jointly. If so provided then, subject to subsection a., the concurrence of all appointed attorneys-in-fact is required to exercise any power.
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This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.
