I went to his bank to have the POA put on file but the bank says only one person can be POA so we have to have a lawyer create a new POA with only one of us listed. This seems unreasonable. I think my father is no longer competent enough to sign another POA not to mention the expense to pay an attorney to redo it. Thoughts?
Frankly, for myself, I've had to push back against banks, usually by sending a letter outlining the law in that state as to their refusal to accept a POA or imposing hoops to jump through and the penalties associated if they continue to refuse and force me to go to court to get them to accept the POA. And I'm the primary POA - it shouldn't be that hard! It's a big pile of "ugh" all the way around. I can't imagine what others must go through as most people don't regularly review POA laws for all states and territories and know what they can do to get the POA recorded.
All that aside, I'm glad you are going to take this matter back to the attorney for assistance. He/she should be able to help get it recorded with the bank, I would hope!
Best of luck, and I hope you'll come back and update us!
Often, when a person decides to complicate matters in this way - by having more than one person acting for him - it is for the sound practical reason that he wants two pairs of eyes on what is going on. So for the bank loftily to dictate that they'll only accept a single agent is nonsense. Your father is their client, his instructions stand, and if they wish to retain his account they will need to adapt to his requirements. You have the legal power to act for him.
As Barb says, get in there and sort them out.
Are they saying that THE BANK can only have one person on file as POA? That would make sense. Or are they saying that they need their own POA form completed and witnessed? That is pretty common these days.
Go in person and speak with a bank officer. Find out if bringing your dad in will suffice for them to get the document they want.