What Is POA Share?
Power of attorney (POA) declares an individual or group of individuals to have all decision-making abilities for another person at such a time that they can no longer decide for themselves.
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What is POA Share?
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When power of attorney is shared among two of more individuals, each individual maintains a share. POA share refers to each individual's part of the responsibility in the decision-making process within the power of attorney. It can designate specific decision-making areas per individual as well.
How Does POA Share Work?
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POA share divides the responsibilities among the individuals within the group. Responsibilities include everyday care, medical decisions and financial obligations. These responsibilities can be divided on an individual basis. In rare cases, POA share will determine the amount of weight or percentage each individual within the POA group has toward making decisions. All POA shares must be approved by the courts.
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Who Can Share POA?
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As part of a living will, the individual can select those who will retain POA share. Usually, this will be assigned to family members. If there isn't a predetermined POA, the family can work together to reach an agreement on who will share POA and what each individual's responsibilities shall be, then file the POA documents to the courts within the county of residence for approval. At times, groups of attorneys, organizations or other trusted individuals can be designated to share POA.
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