» » » Illinois Durable (Financial) Power of Attorney Form

Illinois Durable (Financial) Power of Attorney Form

Create a high quality document online now!

Durable Power of Attorney in Illinois allows an individual, or principal, to delegate a friend or relative to take care of their financial matters for a period of time, or indefinitely. Usually, when using a durable power, the principal is anticipating a time when they may need someone to make decisions for them due to some form of incapacity. In addition, this form can be used when the principal anticipates being away for a period of time and needs someone to act on his or her behalf.

Laws – 

How to Write

1 – Prepare To Document The Principal’s Declarations

An individual wishing to grant another individual broad and sweeping powers will need to document such intent then sign such paperwork and submit it to relevant entities accordingly. To begin, obtain the document utilizing the buttons below the preview picture. Make sure the Principal reads the first two pages then, submits his or her initials at the end of this disclosure on the space provided.

2 – Record The Identity And location Of The Principal

The first set of lines will make up the First Statement (labeled “1”). Here, report the Complete Name of the Principal and the Address for his or her current residence.

3 – Document The Identity And location Of The Attorney-in-Fact

The next set of blank lines in the First Statement (labeled “1”) require the Full Name of the Attorney-in-Fact and his or her Residential Address.

4 – Solidify Any Restrictions That Will Apply To The Attorney-in-Fact

The next set of items requiring attention in the First Statement will be a short list labeled A through O. This will be a set of matters or categories in the Principal’s life that will occasionally or often require attention. By default, the Attorney-in-Fact will be able to wield Principal Authority in all of these categories or subdivisions. If the Principal wishes to restrain the Attorney-in-Fact from wielding one of these powers, he or she must strike through that Item with a horizontal line.

The Principal may restrain the Attorney-in-Fact from acting with Principal Power in his or her Real Estate Transactions by crossing out all the words in Item (a).

The Attorney-in-Fact will not be able to act with any Authority in the Principal’s Financial Institution Transactions, once the Principal crosses out Item (b).

If the Principal does not wish to grant the Attorney-in-Fact any Principal Powers in his or her Stock and Bond Transactions, then he or she must strike through Item (c).

Item (d) should be crossed out if the Principal does not want to grant the Attorney-in-Fact the Authority to act upon his or her Tangible Personal Property Transactions

If Item (e) is crossed out by the Principal, the Attorney-in-Fact will not be able to access or exert Principal Authority on the Principal’s Safe Deposit Box Transactions

In order to refrain from giving the Attorney-in-Fact Principal Power in the Principal’s Insurance and Annuity Transactions, Item (f) must have a horizontal line drawn through the subject.

Make sure the Principal strikes through Item (g) if he or she does not intend to grant the Attorney-in-Fact

The Principal should strike through Item (h), if he or she does not wish to grant the Attorney-in-Fact Authority to deal in Social Security, Employment, and Military Service Benefits the Principal receives or is entitled to.

The Attorney-in-Fact will be restricted from acting with Principal Power in respect to the Principal’s Tax Matters, if the Principal crosses out Item (i).

Should the Principal wish to prevent the Attorney-in-Fact from exerting any power over his or her Claims and Litigation, then Item (j) must be crossed out.

Item (k) will allow the Attorney-in-Fact to use Principal Authority in the Principal’s Commodity and Option Transactions. If the Principal does not wish to grant the Attorney-in-Fact this power, he or she must cross out Item (k).

The Principal can restrict the Attorney-in-Fact from exerting Principal Authority in his or her Business Operations by striking through Item (l).

If Item (m) is crossed out, the Attorney-in-Fact will not be able to perform Borrowing Transactions on behalf of the Principal.

The Attorney-in-Fact will be unable to perform Estate Transactions, on behalf of the Principal, if the Principal crosses out Item (n).

If Item (o) is crossed out, then all other Property Transactions will be considered outside the Attorney-in-Fact’s Principal Authority. That is, only the subjects left unmarked in this list will be within the bounds of the Attorney-in-Fact’s Principal Authority.

5 – Report Additional Limitations To The Attorney-in-Fact

The Second Statement (labeled “2”) will provide several blank lines. If the Principal wishes to modify or limit any Powers granted to the Attorney-in-Fact, this must be documented on the blank lines in this section.

6 – Specify Any Additional Powers To The Attorney-in-Fact

The Third Statement (labeled “3”) also provides several blank lines. If the Principal wishes to extend any powers or place include any provisions, this may be done on the blank lines provided in this section.

7 – Declare The Period Of Effect

The next Statements requiring attention will serve to define when the Attorney-in-Fact will have Principal Authority in the matters discussed on this form. To begin locate the Sixth Statement (labeled “6”) then report the exact Date or Event that will cause the Powers defined in this document to be granted to the Attorney-in-Fact.

Then, in the Seventh Statement (labeled “7”), use the blank space provided to enter the exact Date or Event that will cause the termination of the Attorney-in-Facts Principal Powers as defined in this document.

8 – Determine If There Will Be A Successor Agent

This form will not allow for Co-Agents to be named however, the Principal may elect to have a Successor Agent and Second Successor Agent. Each one will be eligible, through this form, to act on behalf of the Principal by assuming the Powers assigned in this document, if the Attorney-in-Fact cannot fulfill his or her role. Enter the Name and Address of each Successor Agent, in the order in which they would be expected to assume Power.

9 – Verify The Principal’s Intent To Appoint Power

This form should be reviewed by the Principal and the Attorney-in-Fact that it concerns. These parties will need to sign this document in the presence of two Witnesses and a Notary Public. The Principal will need to begin by entering the Date of Signature on the blank space after the word “Dated.” Next to the Signature Date just entered, the Principal must sign his or her Name on the blank space after “Signed.”

10 – Substantiate Principal Signature

The next three sections will serve to verify the Principal Signing of this form. To begin, there will be two Witness Statements provided. Each Witness viewing the Signing must fill in the Name of the Principal on the blank space in the first line with the Principal’s Name. Then, each Witness must enter a Signature Date and sign his or her Name on the spaces below the Witness Testimony. One Witness may only sign one Testimony.

Below the Witness Testimony, starting with the term “State of,” will be Notarization portion of this form. No other party may satisfy the requirements here but a Notary Public assigned to this document’s execution.

11 – Obtain Attorney-in-Fact Acknowledgement (Conditional)

Some cases require the Attorney-in-Fact to acknowledge the granting of Principal Power by way of a signature. Generally, this is recommended, however, not necessarily required. If this Acknowledgment Signature is available, the Attorney-in-Fact must sign the blank space labeled “(agent)” in the section following the Notary Public’s area. If Successor Agents have been named, there will be two additional lines below the Agent Signature for each Successor Agent to sign his or her Name.

Next, to each Agent Signature, the Principal must sign his or her Name on the blank line labeled “(principal).”

12 – Preparer Identity

The Preparer of this form must locate the blank lines labeled “Name of Preparer,” “Address,” and “Phone” then self-report this information. These lines must contain the Full Name, Complete Address, and Current Phone Number of the Preparer.



Related pages


sample resignation letter personalusaa rputing numberexample of an eviction noticeunclaimed property oklahomapromisary note template3rd party credit card authorization formlease termination letter templatedo not resuscitate form indianasocial security form 3288mn poanys lease agreementcalifornia rental lease agreement pdforegon durable power of attorney formcalifornia warranty deedhow to write an eviction noticenm renters rightskansas durable power of attorney formhow to write a notice to vacate letterboat registration arkansasfree quit claim deed form michiganarizona corporation commission llc formssample letter to terminate lease from landlordmissouri vehicle registrationtn lease agreementhow to evict a tenant in illinoisunlawful detainer washington stateoperating agreement llc georgiastatutory warranty deed oregoneviction notice wisconsineviction notice north carolinacommercial tenancy agreement template freesample lease termination letter from landlordlandlord notice to tenant to vacate lettertexas legal guardianship formwarranty deed form georgiavirginia fillable tax formsnotice of intent to evictarkansas ucciowa lease agreementquick claim deed washington statenys guardianship formscontract for roommatesample general warranty deedstandard rental agreement texasllc membership certificate examplelandscaping invoice template freecolorado affidavitblank invoice pdfhow to register a boat in louisianaaccident waiver and release of liability form templateeviction notice processhair salon space for leasereal estate lien releasequit claim deed kentuckyadvance directives ohioohio real estate purchase contract formgeneral warranty deed ohioplumbing templatesusaa routing numverssa3288hennepin county register of deeds3 day notice to pay or quit california formconditional lien release formeviction forms californiatemplate for promissory note for personal loanwhere can i get an eviction notice formnys residential lease agreementnew jersey notice to quitflorida laws on evictionquit claim deed form canadamedimpact medication prior authorization formconsent to background check form tenant30 day notice to vacate letter templateprime therapeutics prior authorization fax formrental agreement addendum templatedurable power of attorney form californiasample roommate lease agreementoffice rental contract templatemassachusetts llc operating agreementca 30 day notice to vacateroommate rules templatetn lease agreement30 day notice to landlord template california