Illinois Statutory With Property
Description
How to fill out Illinois Statutory General Power Of Attorney With Durable Provisions - Short Form Power Of Attorney For Property?
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FAQ
The agent is authorized to: accept, receipt for, exercise, release, reject, renounce, assign, disclaim, demand, sue for, claim and recover any legacy, bequest, devise, gift or other property interest or payment due or payable to or for the principal; assert any interest in and exercise any power over any trust, estate ...
As agent you must: (1) do what you know the principal reasonably expects you to do with the principal's property; Page 10 (2) act in good faith for the best interest of the principal, using due care, competence, and diligence; (3) keep a complete and detailed record of all receipts, disbursements, and significant ...
An Illinois durable power of attorney is a statutory form that allows a person to select someone else to act in their benefit for financial-related decision-making.
3-4. Explanation of powers granted in the statutory short form power of attorney for property. This Section defines each category of powers listed in the statutory short form power of attorney for property and the effect of granting powers to an agent, and is incorporated by reference into the statutory short form.
The purpose of this Power of Attorney is to give your designated ?agent? broad powers to handle your financial affairs, which may include the power to pledge, sell, or dispose of any of your real or personal property, even without your consent or any advance notice to you.