Agents Obligations

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There are times when multiple agents are needed. The principle or the person giving the appointment can choose to have their appointed agents act together jointly on issues if they so choose. When this is the case, then this means that any and all decisions that they have been given the authority (power) to make need to be agreed upon together and approved by both agents before any action can take place. However, the appointment can be for the different agents to act individually as well.

Many times it is advised against making a power of attorney form with two or more agents acting on a person's behalf, since this can cause conflicts and difficulties when trying to complete transactions and other problems can arise as well. Also, keep in …show more content…
First and foremost the agent should only be acting in the best interest of the principle. The agents are obligated when appointed to act legally and ethically in the best interest of, as well as in good faith to the principle that appointed them. The authority that the principal can grant to their agent in a power of attorney form can include, but are not limited …show more content…
Also, all money that the principle has must be kept separate from the appointed agent's money too, nor can an acting agent gift themselves money or property from the principle's estate unless it is specifically stated within the power of attorney form. Lastly, the agent can never profit from any transactions that were conducted on behalf of the principle, unless again it is specifically stated within the form. Again, the amount of power that the agent has will solely depend on what authority has been appointed to them and specified within the power of attorney form. This will be an agreement between the principle and the agent or agents that are

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