![]() A GPOA is non-durable, which means that if the principal becomes mentally incompetent (incapacitated), the agent’s designation terminates immediately. Signing Requirements – Acknowledgment of at least one (1) witness (second witness optional) and a notary public ( 755 ILCS 45/3-3(f)). An Illinois durable power of attorney is a statutory form that allows a person to select someone else to act in their benefit for financial-related decision-. A general power of attorney (GPOA) form allows a person (principal) to give an agent broad or specific powers over their financial matters. If you are too sick or injured to make these decisions, a. ![]() A power of attorney for property makes sure that your financial decisions are handled properly if you can't handle them on your own. Failure to provide information could result in a penalty. Disclosure of this information is REQUIRED. The term durable refers to the form remaining valid even if the principal becomes incapacitated (e.g., Dementia, Alzheimer’s disease, etc.). A power of attorney (POA) for property is a form that lets you give someone else the ability to: Handle your money, and. Power of Attorney Signature Date Power of Attorney Printed Name Jurisdiction This form is authorized by various acts found in Illinois Compiled Statutes. An agency is subject to this Act to the extent it may be controlled by the principal, excluding agencies and powers for the benefit of the agent ( 755 ILCS 45/2-3(a)). A durable power of attorney (DPOA) form allows an individual (principal) to select someone else (agent) to handle their financial affairs while they are alive. Statutes – Durable Powers of Attorney ( 755 ILCS 45/2)ĭefinition – “Agency” means the written power of attorney or other instrument of agency governing the relationship between the principal and agent or the relationship, itself, as appropriate to the context, and includes agencies dealing with personal or health care as well as property. What Types of Power of Attorneys Are Available in Illinois a financial POA (also called a POA for property in Illinois), which allows someone to handle your.
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