Illinois power of attorney provide various ways for one person to allow another person to stand in his or her stead and act on his or her behalf. Thessv-servis24.ru are used in a variety of situations including for assistance with taxes or motor vehicles or children, or with assistance in broader matters such as healthcare and financial matters. If thsv-servis24.ru are used properly, they provide a legally binding way for one person to act on behalf of another. Because of that, it is very important that the person appointing a representative always pick a representative who they can trust and who is reliable.
Durable Power of Attorney – Generally confers broad financial powers on a representative and it continues even if the person creating the power is adjudged incapacitated.
General Power of Attorney – Also generally confers broad financial powers on the representative, but it is non-durable, meaning it becomes void if and when the principal is adjudged incapacitated.
Health Care Power of Attorney – Allows you to appoint someone to act on your behalf with health care decisions when you are unable to.
Limited Power of Attorney – This type is limited to a specific transaction or to a specific time period and becomes void once the transaction or time period is complete.
Minor Child Power of Attorney – Allows you to appoint someone to make decisions on behalf of your minor child in the event you are not going to be available for a period of time.
Power of Attorney Revocation – Cancel any power of attorney that you may have created in the past.
Tax Power of Attorney (IL-2848) – Can be used to appoint someone to act on your behalf with tax issues.
Vehicle Power of Attorney – Allows you to appoint someone to act on your behalf with regard to registering and titling vehicles.
How to Write
1 – Set Up The Short Form
The first step in developing a power of attorney short form is to obtain a workable copy. This may be done using the buttons underneath the preview image. Open or download the document type you prefer. The Principal must read the first two pages then provide his or her initials on the space provided.
2 – Indicate Who is Granting Power
Locate Statement 1 below the title of this form on the third page. Several blank lines have been provided so the Name and Residential Address of the Principal may be recorded. The Principal is the party who will grant power to a separate individual through this form.
3 – Declare Who is Being Granted Power
Locate the parentheses with the words “insert name and address of agent.” In this area, report the Full Name and Address of Residence on the blank lines that have been provided. The Agent is the individual whom the Principal will grant the same Authority he or she wields to in the form of broad powers. The Illinois Power of Attorney Act will define broad powers and this form will remain compliant within this statute.
4 – Further Define The Power Being Granted
The next area will give the Principal an opportunity to strike out or eliminate any powers that should not be granted to the Principal’s Agent through this form. In order to restrict an Agent from having Authority in a specific Principal Matter, the list labeled A through O will require attention. The Principal must cross out the subject matter(s) in this list he or she does not want to grant the Agent (if any). If an item on this list is not crossed out, Authority over that category will be granted to the Agent.
If the Agent should not be granted Power over the Principal’s Real Estate Transactions, the Principal will need to draw a line through Item (a).
The Principal may refrain from granting the Agent power over his or her Financial Institution Transactions by crossing out all the words in Item (b).
The Agent will be restricted from having any Power regarding the Principal’s Stock and Bond Transactions, once the Principal crosses out Item (c).
The Power to act in the Principal’s Tangible Personal Property Transactions will be restricted from the Agent when the Principal strikes a line through all the words in Item (d).
If the Principal does not wish to grant the Agent the Authority to deal in his or her Safe Deposit Box Transactions, he or she must cross out Item (e).
The Agent will not be able to act with Authority regarding the Principal’s Insurance and Annuity Transactions, if the Principal crosses out the contents of Item (f).
If the Agent is not to be granted Power in the Principal’s Plan Transactions, the Principal must strike through the words in Item (g).
The Principal must cross out Item (h) if he or she does not wish to grant the Agent power over his or her Social Security, Employment, and/or Military Service Benefits.
If Item (i) is crossed out the Agent will not have Principal Power regarding the Principal’s Tax Matters.
If the Principal wishes to restrict the Agent from acting with Authority regarding his or her Claims and Litigation, then Item (j) must be struck through.
The Principal may restrict the Agent’s Power by not granting him or her Authority over Principal Commodity and Option Transactions. This may be done by crossing out Item (k).
The Agent will not have Authority regarding the Principal’s Business Operations if the Principal draws a line through the contents of Item (l).
If the Principal does not wish to give the Agent the Authority to perform Borrowing Transactions, then all the words in Item (m) must be crossed out.
The Principal is able to prevent the Agent from having Power over his or her Estate Transactions by striking a line through Item (n).
All other Property Transactions will be outside of the Agent’s Power when Item (o) is crossed out.
4 – Dictate Any Additional Provisions Applying To The Power Granted.
Locate Statement 2 (starting with the words “The powers granted above…”), then use the blank lines below to further define or limit any Powers being granted to the Agent.
Locate Statement 3 (beginning with the words “In addition to the powers granted…”), then report any additional delegable Powers the Agent should have.
5 – Determine When the Agent Will Have Power
The next statement requiring attention will be Statement 6. Here, the Principal will need to define the Calendar Date, Life Event, or Catalyst that will cause the Agent to have the Principal Powers defined in this form. Use the blank lines in Statement 6 to report how or when the Agent will be granted Principal Power.
6 – Determine When the Agent’s Principal Power Will Terminate
Locate Statement 7 then report how or when the Agent’s Principal Power will Terminate. If this is a specific Date, then enter the last Date the Agent will have Principal Power. If this will be an event then, report the Event that will cause the Agent’s Principal Power to Terminate.
7 – The Successor Agent Option
Statement 8 (beginning with the phrase “If any agent…”) will give the Principal the option of naming an individual(s) to assume the Powers granted to the Primary Agent if he or she cannot fulfill the responsibilities that come with Principal Power. Use the blank lines in this area to enter the Full Name and Complete Address of any Successors the Principal may choose to Name. This Statement is optional and may be left blank.
8 – Legally Executing The Short Form
This form will not become a document that demands recognition until the determined action of the Principal. To begin, the Principal must enter the Date of Signature on the line following the word “Dated.” (below Item 11).
The Principal must then sign the blank line labeled “Principal” (following the word “Signed”).
9 – Obligatory Witness Testimony
The Witnesses viewing the Principal Signing will also have to provide some information and Sign their Names to this form. There will be two paragraphs beginning with the words “The undersigned witness…” Two Witnesses will have a separate area where they may verify the Principal’s Signing. To begin, the Name of the Principal must be entered on the blank line following the wording “…certifies that.”
Below each Statement, will be an area where one Witness must Date and Sign his or her Name. Each Witness Statement must contain the Signature of a unique Witness.
10 – Notarizing This Short Form
The segment below the Witness Testimony has been provided for the use of the Notary Public who is providing the notarization of this Signing. Here the Notary Public must enter the information requested, then supply his or her credentials in the appropriate areas.
11 – Agent Acknowledgment
Some cases may require the Agent to physically acknowledge his or her responsibilities as the Principal’s Agent by way of a Signature from that Agent. This will apply to any Successor Agents Named as well. Locate the section at the top of the next page (after the Notarization area). The Agent must sign his or her Name on the first blank space. The two spaces below this have been provided so that any Successor Agents named will have a place to provide their Signature.
The Principal must sign his or her name on the blank space on the right. The Principal must sign his or her name on the blank space next to an Agent’s Signature.
12 – Preparer Information
The Preparer is the individual who has caused this form to be physically filled out and submitted. Locate the line labeled “Name of Preparer.” Use the lines in this area to record the Name of the Preparer along with his or her current Address.