Instant Karma
Now that the Illinois Supreme Court in Estate of Coffman determined that the fiduciary relationship between the principal and their agent begins at the time the power of attorney is signed, attorneys should be cautious when advising clients in naming agents under property powers of attorney, explains Robert S. Held in his April Illinois Bar Journal article, “Instant Karma.”
He adds that the ruling “has enormous consequences for both estate planners and litigators alike.”
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