Yes, but I would only attempt that if the sisters have a very good and supportive relationship and no issues with communication. Sometimes these arrangements work well as the many responsibilities can be shared, other times it is a disaster with constant power struggles. It puts siblings in a position that they HAVE to work together and concentrate on what is best for the parent.
I don't know if this holds true in the US, but in the UK there are two ways to do it:
1. Joint POA, where the two or more POAs are required to do everything together. This doubles the amount of work, but means that everyone knows what everyone else is doing and one can't do anything without the other's agreement.
2. Joint and several, where the POAs can act individually as well as together. So, for example, only one signature is required for contracts or checks. It makes it more practical for everyday office tasks, but does mean that theoretically one Evil POA could run off with all the money.
You, er, don't sound keen on the idea. What are your reservations?
My sis and I are able to act "jointly and severally" as healthcare POA, my brother and I were the same as financial POA (he has since passed away). The reality for us is that sibs were comfortable to let me decide everything, but were able to jump in immediately if needed. As CM says, it can only work well if you are both on the same page.
Oo, actually - your brother's sadly having passed away does raise another important point.
If the POA is joint, as opposed to than joint-and-several, and one of the holders of it dies, then I *think* the whole instrument fails and your parent is left with no valid POA at all. Check this with your legal adviser.
I don't know if this holds true in the US, but in the UK there are two ways to do it:
1. Joint POA, where the two or more POAs are required to do everything together. This doubles the amount of work, but means that everyone knows what everyone else is doing and one can't do anything without the other's agreement.
2. Joint and several, where the POAs can act individually as well as together. So, for example, only one signature is required for contracts or checks. It makes it more practical for everyday office tasks, but does mean that theoretically one Evil POA could run off with all the money.
You, er, don't sound keen on the idea. What are your reservations?
If the POA is joint, as opposed to than joint-and-several, and one of the holders of it dies, then I *think* the whole instrument fails and your parent is left with no valid POA at all. Check this with your legal adviser.