Legal Question in Wills and Trusts in Illinois

Re: Power of Attorney

I agree with the response sent by Mr. Scher. His analysis is good.

In Arizona we have Power of Attorney statutes that are very tricky. Most "store-bought" forms do not follow the law or give notice of pitfalls. Be very careful with a POA. Do not use it lightly. Many people have given one to an agent and then been taken advantage of or it has been used in a manner not contemplated. See an estate attorney for advice.

Good luck,

James D. Jenkins

Good luck.

Re: Power of Attorney

In Illinois the power of attorney for property must be very specific or it's invalid. The person who grants power of attorney can revoke it at any time, unless they are mentally incompetent. I hope this isn't one of those general powers of attorney gotten from the internet. People who use those generally get screwed. You need a lawyer. Please call for an appointment. This is not to be construed as legal advice.

Re: Power of Attorney

A "power of attorney" is in actuality an AGENCY agreement, where the principal gives authority to an agent to act on his/her behalf. This authority can be revoked at any time for any reason. Anyone acting as an agent under a POA owes a fiduciary duty to the principal and must only act on behalf of and in the best interests of the principal. The principal always has authority over his/her own accounts and can act for him/herself. The agent has no overiding power and the principal is not excluded in any way.

A POA may be "special" and limit the authority of the agent to a specific purpose or account, and in that case the agent has no authority to do anything but to act under the authority specified.

You must only give such authority to a person you can TRUST WITHOUT QUESTION to carry out your wishes and to only act on your behalf. If you do not have complete confidence in the person to act honestly, DO NOT give that person POA.