Topic: Transfer Agents
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We have a customer who wants to add an agent under a power of attorney to an already established revocable trust account. Does Illinois allow this?
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Yes, Illinois law does allow an agent under a power of attorney (POA) to exercise a trust settlor’s powers “with respect to revocation, amendment, or distribution of trust property,” provided that the power of attorney expressly authorizes the agent to exercise such powers, and provided that the trust instrument does not prohibit the agent from…