Il Power Of Attorney For Property (Page 6 of 7) in pdf

NOTICE TO AGENT

When you accept the authority granted under this power of attorney a special legal relationship, known as agency,

is created between you and the principal. Agency imposes upon you duties that continue until you resign or the

power of attorney is terminated.

As agent you must (unless otherwise separately agreed in writing):

(1) do what you know the principal reasonably expects you to do with the principal's property;

(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 actions conducted

for the principal;

(4) attempt to preserve the principal's estate plan, to the extent actually known by the agent, if preserving

the plan is consistent with the principal's best interest; and

(5) cooperate with a person who has authority to make health care decisions for the principal to carry out

the principal's reasonable expectations to the extent actually in the principal's best interest.

As agent you must not do any of the following (unless otherwise separately agreed in writing):

(1) act so as to create a conflict of interest that is inconsistent with the other principles in this Notice to

Agent;

(2) do any act beyond the authority granted in this power of attorney;

(3) commingle the principal's funds with your funds;

(4) borrow funds or other property from the principal;

(5) continue acting on behalf of the principal if you learn of any event that terminates this power of attorney

or your authority under this power of attorney, such as the death of the principal or your legal separation

from the principal.

If you have special skills or expertise, you must use those special skills and expertise when acting for the principal.

You must disclose your identity as an agent whenever you act for the principal by writing or printing the name of

the principal and signing your own name “as Agent” in the following manner:

“(Principal's Name) by (Your Name) as Agent”

The meaning of the powers granted to you is contained in Section 3‑4 of the Illinois Power of Attorney Act,

which is incorporated by reference into the body of the power of attorney for property document.

If you violate your duties as agent or act outside the authority granted to you, you may be liable for any damages,

including attorney's fees and costs, caused by your violation.

If there is anything about this document or your duties that you do not understand, you should seek legal advice

from an attorney.

Page 6 of 7

Il Power Of Attorney For Property Page 6