Successor Agent For Attorney
Description
How to fill out Illinois Successor Agent's Certification And Acceptance Of Authority?
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FAQ
Change a power of attorney Put your decision in writing. If you want to make changes to your existing power of attorney document, there are certain rules you must follow. ... Give notice to your attorney(s) You must give written notice of the amendment to each attorney. ... Give notice to anyone you gave the power of attorney.
In general, the principal's money or property cannot be transferred to themselves by either type of power of attorney. Note that this restriction applies regardless of whether the principal is alive or dead at the time they sign their power of attorney document.
That means they cannot make financial decisions or take actions with your money or accounts that aren't in your best interest. They are supposed to be careful not to waste or lose your money. A fiduciary duty would mean that a POA can't just move your money to their own accounts.
As well, an attorney cannot make a gift to themselves without the authorization of the court. The court may also authorize an attorney to make a gift that is not otherwise authorized under the act if the court is satisfied that it would be appropriate for the attorney to make the gift.
A representation agreement is similar to power of attorney, but with some crucial differences. A power of attorney only allows you to have someone make financial and legal decisions for you. A representation agreement allows someone to help you make personal and healthcare decisions.
