Illinois durable power of attorney form is a powerful document that permits you to choose another entity to manage your financial affairs in your name. Usually, it can be for an extended period or until a particular situation occurs, such as physical or mental incapacitation. The principal is the individual granting powers, and the agent accepts to exercise the mandate to make critical decisions. Most people create a power of attorney form agreements for various reasons. For instance, when a husband intends to travel overseas, he can delegate all the financial affairs to his wife through a POA form.
Since a durable power of attorney form remains valid even when the principal suffers incapacitation, the agent must be a trusted and responsible individual.
Illinois power of attorney forms – this page can help you find out more about other powers of attorney used in Illinois.
Each power of attorney agreement has requirements that creators must follow to validate the document. According to Illinois state laws (755 ILCS 45/2-4), the principal can state the agreement’s duration and the when the agent can begin and stop to execute directives.
Moreover, the principal must be an adult of legal age and a sound mind. They should act freely without pressure from external influence.
The document needs at least one witness to be present and append their signature to validate the agreement.
The attorney creator’s power must also include notary public evidence that a certified legal officer notarized the document.
Filling out the Illinois Durable POA
Completing an Illinois durable power of attorney form is a simple process that requires the principal to fill out particular details. You need to read the document first to know what is expected of you before writing in the spaces provided. Follow the steps below to complete your power of attorney document:
Write Declarations and Get the Form
Any person who wants to create a POA agreement in Illinois must first write their declarations on paper, sign it, and send it to all the entities concerned. For instance, the attorney-in-fact and the witness. You can then obtain the form and carefully read through it before you enter any details.
This section must include the particulars of the principal, such as full name and physical address. It is a vital section showing the identity and location of the POA creator.
Before you enter the agent’s details, ensure that you inform the individual earlier. Since a durable POA is a crucial document, you must also select a reliable and financially disciplined person who can execute your directives without doubts.
Fill out the name and physical address of your private attorney on the spaces provided.
List of Powers
This section is critical since it contains a list of directives that the principal assigns the agent to exercise in their name. You must read through carefully to make sure the default powers align with your wishes. If not, the form allows you to cross out any statement with a horizontal line.
For instance, it contains instructions to carry out bank transactions, real estate management, stocks and bonds, among other crucial financial items.
Here, the principal can modify any powers mentioned in the document. If you have any specific limitations, ensure that you capture them in this section. For example, you can prohibit your agent on the sale of a specific property or stock.
As the principal, you have the mandate to add other powers that you want your private attorney to exercise. For instance, if you have a business, you can assign authority to fire and hire employees or change or cancel any trust under the principal’s name.
Date of Effectiveness
The principal must indicate in this section the period of the POA effect. When the agent can start exercising the listed powers and when the agreement will end.
Adding alternate agents is a precautionary measure because the initial agent might fail to serve in their role for various reasons. Maybe due to illness or mental incapacitation. Ensure that you include the full name, physical address, and working telephone numbers of all the agents.
Signatures of Principal and Witness
This section entails the signing of the form by the principal and the witness overseeing the POA creation. Include the state, county, current date, and signature.
Agent Acknowledgement (Optional)
This section is optional for the principal since it requires him/her to provide specimen signatures of all the agents named in the document. If you complete this section, you must also certify that the signatures are correct by signing on the opposite side.
Notary Public information
Finally, notarize your power of attorney agreement to validate it and prove that all parties participated in the creation. The legal officer will also sign the document and imprint a certified seal on the form.
Other Illinois Forms By Type
Other Durable Power of Attorney Forms By State
- AZ durable power of attorney
- California durable power of attorney
- CO durable power of attorney
- Florida durable power of attorney
- Georgia durable POA
- Indiana durable power of attorney
- Kansas durable POA for financial matters
- Maryland durable POA form
- MA durable power of attorney
- Michigan durable power of attorney
- Missouri durable POA form
- NJ durable power of attorney
- NY durable power of attorney
- NC durable power of attorney
- Ohio durable POA for financial matters
- Oklahoma durable POA form
- Oregon durable power of attorney
- Pennsylvania durable POA form
- SC durable POA for financial matters
- Tennessee durable power of attorney
- Texas durable power of attorney
- Virginia durable POA form
- WA State durable power of attorney