Successor Agent For Acceptance Of Authority
Description
How to fill out Illinois Successor Agent's Certification And Acceptance Of Authority?
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FAQ
Order 3 Rule 2 of C.P.C specifies the Power-of-Attorney holder as recognized agents for the Party. Therefore Rule 2 empowers the power-of-Attorney holder who is authorized to act on behalf of the principal can appear, file application, engage advocates and act on behalf of parties.
A trustee, who can either be the trustor or another responsible party, may be appointed while the trustor is still alive; a successor trustee is charged with administering a trust after the trustor or the appointed trustee (if they are different from the trustor) becomes incapacitated or dies.
The successor trustee has control over all assets included in your trust. The power of attorney agent is similar, however, not identical. You may still appoint the power of attorney agent as you appointed your trustee and successor trustee, but the power of attorney agent has slightly more power.
A successor agent is a person named to serve as a backup agent if the first person named as agent cannot serve due to death, incapacity, resignation or refusal to act.
The POA cannot transfer the responsibility to another Agent at any time. The POA cannot make any legal or financial decisions after the death of the Principal, at which point the Executor of the Estate would take over. The POA cannot distribute inheritances or transfer assets after the death of the Principal.
