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(c) Can Stock Photo The Illinois Power of Attorney Act was recently amended. The Act requires an agent to maintain an accounting of everything the agent does with the assets and the funds over which the agent has control, and the new amendment puts some teeth in that...
(c) Can Stock Photo A Power of Attorney is a document by which one person (the principal) can appoint another person (the agent) to act on the principal’s behalf in regard to financial and property matters (Property Power of Attorney) and health care and personal...
THE EXECUTOR I had a friend who died and he, On earth so loved and trusted me, That ere he quit this earthly shore, He made me his executor. He tasked me through my natural life, To guard the interests of his wife, To see that everything was done, Both for his...
Legal Q & A: Estate planning “My mother made me her agent on her health care power of attorney. Now my brother is showing me a power of attorney making him the agent. Is that legal?” It all depends on whether your mother, by her choice, executed a new power of...
An agent pursuant to a power of attorney owes a fiduciary duty to the creator of the power of attorney (the “principal”) and is obligated to carry out the terms of the power of attorney with the highest degree of fidelity and good faith according to Illinois law....