Legal Question in Wills and Trusts in Illinois

When you are designated power of Attorney can you put your name on an account that belongs to the client? Even with thier knowledge, can you use funds for your own personal use? What I am asking I guess is what kind of limitations or what can you do or can not due when you are power of attorney and also an heir to an estate you are managing? Like when paying a persons bills investing thier money, what legal responcibility do you have? Like if 4 people are on a Deed so when owner passes the house is split evenly can power of attorney sell house for his own personal gain? Example say person he has power for needs 24/7 care, instaed of putting them in a professional facility the power of attorney decides that they think elder would be better off at his home so he decides to sell real estate and add on to his own home to care for elder. Then reeping the benefite of haveing bigger home and increased value and the heirs that were to recieve a share of real estate get nothing, after elder passes? Is that legal?


Asked on 7/13/10, 6:49 pm

1 Answer from Attorneys
Tom Olofsson Law Office of Thomas J. Olofsson

The agent under a power of attorney holds an, almost sacred, position of trust. They are referred to as a fiduciary. This means that they have an obligation to do what is right for the person who appointed them.

If the agent cheats the real owner there can be civil and criminal penalties.

I hope this answers your question.

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Answered on 7/13/10, 9:58 pm


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