• FreeAdvice has a new Terms of Service and Privacy Policy, effective May 25, 2018.
    By continuing to use this site, you are consenting to our Terms of Service and use of cookies.

Durable power of attorney

Accident - Bankruptcy - Criminal Law / DUI - Business - Consumer - Employment - Family - Immigration - Real Estate - Tax - Traffic - Wills   Please click a topic or scroll down for more.

B

boatnick

Guest
i live in illinois and have durable power of attorney over my mother's affairs and health decisions. can i get compensated for my services and if so, how do i determine how much?
Thank you
 


dmode101

Member
It all depends on what the document says. An unchanged Illinois statutory power of attorney for property says that the agent is entitled to "reasonable compensation" for his services. What is "reasonable" depends on many factors, including actual time spent, nature of the work, skill of the agent, what the agent if foregoing, etc. What I would usually recommend is to keep diligent track of all time spent and then apply a reasonable hourly rate to that. Remember that any compensation is taxable income to the agent.
 

Find the Right Lawyer for Your Legal Issue!

Fast, Free, and Confidential
data-ad-format="auto">
Top