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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.
Which is a key disadvantage of a power of attorney?
One major downfall of a POA is the agent may act in ways or do things that the principal had not intended. There is no direct oversight of the agents activities by anyone other than you, the principal.
What is a power of attorney for child care and custody in Illinois?
An Illinois minor (child) power of attorney form allows parents to grant a representative the authority to make decisions and perform actions to ensure the proper care of a child. The person accepting the parental powers may be asked to provide care in the form of transportation, shelter, clothing, and food.
What are the risks of being a power of attorney?
Potential Disadvantages of Being a Power of Attorney The POA must be able to make serious choices that could involve the persons health and estate. If you bdocHub your duty, you could owe the principal compensation for damages. The principal could sue you if you did not act in their best interest.
What three decisions Cannot be made by a legal power of attorney?
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.
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What is a minor child power of attorney in Illinois?
An Illinois minor (child) power of attorney ensures that if a parent or legal guardian is indisposed or absent for an indefinite period of time, the parent can grant temporary legal authority to a trusted party to care for their child.
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This consent form should be taken with the child to the hospital or physicians office when the child is taken for treatment. This additional information
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