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Power of Attorneys and Divorce
If a person is competent and if there is no duress or undue influence, a person can freely execute a Power of Attorney identifying another person or entity to act on his or her behalf.
A valid Power of Attorney can be effective immediately, when executed, or it can be effective upon the occurrence of certain events such as, but not limited to, confirmation of an attended physician that the maker is no longer competent to act on their own behalf.
In dividing property, the Illinois court considers all relevant factors including the contribution of each party to the value of the property, particularly the contribution of a spouse as a homemaker, the value of the property distributed to each spouse, the length of the marriage, the financial situation of each spouse when the property is divided, (such as the need to give the family home to the spouse who has custody of the children), any obligations and rights arising from a prior marriage of either party, the age, health, station, occupation, income, vocational skills, employability, estate, liabilities, and needs of each of the parties, the custody of any children, and the reasonable opportunity of each spouse for future acquisition of capital assets and income.
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