Zukowski Law Office
Zukowski Law Office

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Recent Power of Attorney Case

This is a potential problem for many people.  I hope you find it useful.

Collins v. Noltensmeier, 2018 IL App (4th) 170443  Plaintiffs had sued Defendant for a breach of fiduciary duty and conversion.  A financial power of attorney (POA) is a document which gives another individual person authority to make decisions on your behalf. Frequently, an elderly parent will give this authority to an adult child. In this particular case the language in POA did not grant Defendant the authority to change beneficiary on decedent’s IRA to herself, and thus Defendant engaged in fraudulent self-dealing by doing so. Any conveyance of principal’s property that materially benefits the agent or is for the agent’s own use is presumed to be fraudulent.

 

Posted 5-21-18

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Zukowski Law Office

817 Peoria St

PO Box 484

Peru, IL 61354

 

Phone: 815-223-3434

Fax: 815-223-3489

Email: walt@zukowskilaw.com

 

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