Power Of Attorney,info???
Q: Both of my Illinois Power of Attorney documents that I signed several years ago are written up to become effective immediately. There is nothing in them to otherwise qualify the effective date, such as incapacitation, etc. They appoints my designated agents "TO ACT FOR ME AND IN MY NAME" with respect to all matters, etc. Does this mean that I thereby relinquished my own rights, or just that the other person is a co-agent with me?
A: In other words, you seem to say, they are drafted to have effect presumptively for the duration of your life unless, as is also presumptively your right, you terminate them earlier by appropriate notice, as the case may be, to your designated agent(s) and, if relevant to the circumstances of termination, in timely manner to a third party who otherwise would act in reliance on the designation's continued effectiveness. Saying as presumably the language of your power of attorney does that you delegated to the designated agent the authority to act on your behalf with respect to the matters covered thereby with the same effect as if you were present and personally doing so yourself does not, without more (i.e., explicit agreement to this additional effect), divest you as principal of the authority to act on your own behalf with respect to those matters (assuming that you are not incompetent to do so at whatever is the time in question).