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1 | AN ACT concerning civil law.
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2 | Be it enacted by the People of the State of Illinois,
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3 | represented in the General Assembly:
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4 | Section 5. The Illinois Power of Attorney Act is amended by | ||||||
5 | changing Sections 2-3, 2-4, 2-5, and 3-3 as follows:
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6 | (755 ILCS 45/2-3) (from Ch. 110 1/2, par. 802-3)
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7 | (Text of Section before amendment by P.A. 96-1195 )
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8 | Sec. 2-3. Definitions. As used in this Act:
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9 | (a) "Agency" means the written power of attorney or other | ||||||
10 | instrument of
agency governing the relationship between the | ||||||
11 | principal and agent or the
relationship, itself, as appropriate | ||||||
12 | to the context, and includes agencies
dealing with personal or | ||||||
13 | health care as well as property. An agency is
subject to this | ||||||
14 | Act to the extent it may be controlled by the principal,
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15 | excluding agencies and powers for the benefit of the agent.
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16 | (b) "Agent" means the attorney-in-fact or other person | ||||||
17 | designated to act
for the principal in the agency.
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18 | (c) "Disabled person" has the same meaning as in the | ||||||
19 | "Probate Act of
1975", as now or hereafter amended. To be under | ||||||
20 | a "disability" or
"disabled" means to be a disabled person.
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21 | (d) "Person" means an individual, corporation, trust, | ||||||
22 | partnership or
other entity, as appropriate to the agency.
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23 | (e) "Principal" means an individual (including, without |
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1 | limitation, an
individual acting as trustee, representative or | ||||||
2 | other fiduciary) who signs
a power of attorney or other | ||||||
3 | instrument of agency granting powers to an agent.
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4 | (Source: P.A. 85-701.)
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5 | (Text of Section after amendment by P.A. 96-1195 )
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6 | Sec. 2-3. Definitions. As used in this Act:
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7 | (a) "Agency" means the written power of attorney or other | ||||||
8 | instrument of
agency governing the relationship between the | ||||||
9 | principal and agent or the
relationship, itself, as appropriate | ||||||
10 | to the context, and includes agencies
dealing with personal or | ||||||
11 | health care as well as property. An agency is
subject to this | ||||||
12 | Act to the extent it may be controlled by the principal,
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13 | excluding agencies and powers for the benefit of the agent.
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14 | (b) "Agent" means the attorney-in-fact or other person | ||||||
15 | designated to act
for the principal in the agency.
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16 | (c) "Disabled person" has the same meaning as in the | ||||||
17 | "Probate Act of
1975", as now or hereafter amended. To be under | ||||||
18 | a "disability" or
"disabled" means to be a disabled person.
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19 | (c-2) "Excluded Power of Attorney" means any one of the | ||||||
20 | following: | ||||||
21 | (1) A power of attorney given primarily for a business | ||||||
22 | or commercial purpose. | ||||||
23 | (2) A power of attorney to the extent it is coupled | ||||||
24 | with an interest in the subject of the power. | ||||||
25 | (3) A power of attorney given to or for the benefit of |
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1 | a creditor in connection with a loan or other credit | ||||||
2 | transaction or a secured party in connection with a secured | ||||||
3 | transaction. | ||||||
4 | (4) A proxy or other delegation to exercise voting | ||||||
5 | rights or management rights with respect to a corporation, | ||||||
6 | partnership (general or limited), limited liability | ||||||
7 | company, condominium, commercial entity, or association. | ||||||
8 | (5) A power of attorney created on a form prescribed by | ||||||
9 | a government or governmental subdivision, agency, or | ||||||
10 | instrumentality for a governmental purpose. | ||||||
11 | (6) A power of attorney given to facilitate a specific | ||||||
12 | transfer or disposition of one or more identified stocks, | ||||||
13 | bonds, or other assets, whether real or personal, tangible | ||||||
14 | or intangible. | ||||||
15 | (7) A power of attorney authorizing a third party to | ||||||
16 | prepare, execute, deliver, submit or file a document or | ||||||
17 | instrument with a government or governmental subdivision, | ||||||
18 | agency, or instrumentality, or other third party. | ||||||
19 | (8) A power of attorney authorizing a financial | ||||||
20 | institution or employee of a financial institution to take | ||||||
21 | action in relation to an account in which the financial | ||||||
22 | institution (i) holds cash, securities, commodities, or | ||||||
23 | other financial assets on behalf of the principal, or (ii) | ||||||
24 | acts as an investment manager with a third-party serving as | ||||||
25 | the custodian of such cash, securities, commodities, or | ||||||
26 | other financial assets on behalf of the principal. |
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1 | (9) A power of attorney given by an individual who is, | ||||||
2 | or is seeking to become, a director, officer, stockholder, | ||||||
3 | employee, partner (general or limited), member, unit | ||||||
4 | owner, equity owner, trustee, manager, or agent of a | ||||||
5 | corporation, a partnership (general or limited), a limited | ||||||
6 | liability company, a condominium, a legal or commercial | ||||||
7 | entity, or an association, in that individual's capacity as | ||||||
8 | such, including a power of attorney contained in a | ||||||
9 | subscription agreement. | ||||||
10 | (10) A power of attorney contained in a certificate of | ||||||
11 | incorporation, bylaws, general or limited partnership | ||||||
12 | agreement, limited liability company agreement, | ||||||
13 | declaration of trust, declaration of condominium, | ||||||
14 | condominium offering plan, or other agreement or | ||||||
15 | instrument governing the internal affairs of an entity or | ||||||
16 | association, authorizing a director, officer, shareholder, | ||||||
17 | employee, partner (general or limited), member, unit | ||||||
18 | owner, equity owner, trustee, manager or other person to | ||||||
19 | take lawful actions relating to such entity or association. | ||||||
20 | (11) A power of attorney given to a licensed real | ||||||
21 | estate broker to take action in connection with a listing | ||||||
22 | of real property, mortgage loan, lease, or management | ||||||
23 | agreement. | ||||||
24 | (12) A power of attorney given to a condominium | ||||||
25 | managing agent to take action in connection with the use, | ||||||
26 | management, and operation of a condominium unit. |
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1 | (13) A power of attorney authorizing the acceptance of | ||||||
2 | the service of process on behalf of the principal. | ||||||
3 | (14) A power of attorney created pursuant to | ||||||
4 | authorization provided by a federal or State statute, other | ||||||
5 | than this Act, that specifically contemplates creation of | ||||||
6 | the power. | ||||||
7 | (c-5) "Incapacitated", when used to describe a principal, | ||||||
8 | means that the principal is under a legal disability as defined | ||||||
9 | in Section 11a-2 of the Probate Act of 1975. A principal shall | ||||||
10 | also be considered incapacitated if: (i) a physician licensed | ||||||
11 | to practice medicine in all of its branches has examined the | ||||||
12 | principal and has determined that the principal lacks decision | ||||||
13 | making capacity; (ii) that physician has made a written record | ||||||
14 | of this determination and has signed the written record within | ||||||
15 | 90 days after the examination; and (iii) the written record has | ||||||
16 | been delivered to the agent. The agent may rely conclusively on | ||||||
17 | the written record. | ||||||
18 | (d) "Person" means an individual, corporation, trust, | ||||||
19 | partnership or
other entity, as appropriate to the agency.
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20 | (e) "Principal" means an individual (including, without | ||||||
21 | limitation, an
individual acting as trustee, representative or | ||||||
22 | other fiduciary) who signs
a power of attorney or other | ||||||
23 | instrument of agency granting powers to an agent.
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24 | (Source: P.A. 96-1195, eff. 7-1-11.)
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25 | (755 ILCS 45/2-4) (from Ch. 110 1/2, par. 802-4)
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1 | Sec. 2-4. Applicability. (a) The principal may specify in | ||||||
2 | the agency
the event or time when the agency will begin and | ||||||
3 | terminate, the mode of
revocation or amendment and the rights, | ||||||
4 | powers, duties, limitations,
immunities and other terms | ||||||
5 | applicable to the agent and to all persons
dealing with the | ||||||
6 | agent, and the provisions of the agency will control
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7 | notwithstanding this Act, except that every health care agency | ||||||
8 | must
comply with Section 4-5 of this Act.
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9 | (b) From and after the effective date of this Act: (1) this | ||||||
10 | Act governs
every agency, whenever and wherever executed, and | ||||||
11 | all acts of the agent to
the extent the provisions of this Act | ||||||
12 | are not inconsistent with the agency;
and (2) this Act applies | ||||||
13 | to all agencies exercised in Illinois and to all
other agencies | ||||||
14 | if the principal is a resident of Illinois at the time the
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15 | agency is signed or at the time of exercise or if the agency | ||||||
16 | indicates that
Illinois law is to apply. Providing forms of | ||||||
17 | statutory property and
health care powers in Articles III and | ||||||
18 | IV does not limit the applicability
of this Act, it being | ||||||
19 | intended that every agency, including, without
limitation, the | ||||||
20 | statutory property and health care power agencies, shall
have | ||||||
21 | the benefit of and be governed by Article II, by Sections 4-1 | ||||||
22 | through
4-9 and Section 4-11 of Article IV, and by all other | ||||||
23 | general provisions of
this Act, except to the extent the terms | ||||||
24 | of the agency are inconsistent with this Act.
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25 | (c) The following portions of this Act shall not apply to | ||||||
26 | an excluded power of attorney: Section 2-7(b), Section |
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1 | 2-7(c)(2), Section 2-7(c)(3), Section 2-7(c)(4), Section | ||||||
2 | 2-7(d), Section 2-7(f), Section 2-8(b), Section 2-10(d), | ||||||
3 | Section 2-10(e), Section 2-10(f), Section 2-10.3(b), Section | ||||||
4 | 2-10.3(c), and Section 2-10.5. | ||||||
5 | (Source: P.A. 86-736.)
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6 | (755 ILCS 45/2-5) (from Ch. 110 1/2, par. 802-5)
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7 | (Text of Section before amendment by P.A. 96-1195 )
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8 | Sec. 2-5. Duration of agency - amendment and revocation. | ||||||
9 | Unless the
agency states an earlier termination date, the | ||||||
10 | agency continues until the
death of the principal, | ||||||
11 | notwithstanding any lapse of time, the principal's
disability | ||||||
12 | or incapacity or appointment of a guardian for the principal
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13 | after the agency is signed. Every agency may be amended or | ||||||
14 | revoked by the
principal at any time and in any manner | ||||||
15 | communicated to the agent or to any
other person related to the | ||||||
16 | subject matter of the agency, except that
revocation and | ||||||
17 | amendment of health care agencies are governed by Section 4-6
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18 | of this Act except to the extent the terms of the agencies are | ||||||
19 | inconsistent
with that Section.
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20 | (Source: P.A. 86-736.)
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21 | (Text of Section after amendment by P.A. 96-1195 )
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22 | Sec. 2-5. Duration of agency - amendment and revocation. | ||||||
23 | (a) Unless the
agency states an earlier termination date, | ||||||
24 | the agency continues until the
death of the principal, |
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1 | notwithstanding any lapse of time, the principal's
disability | ||||||
2 | or incapacity or appointment of a guardian for the principal
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3 | after the agency is signed. Every agency may be amended or | ||||||
4 | revoked by the
principal, if the principal has the capacity to | ||||||
5 | do so, at any time and in any manner communicated to the agent | ||||||
6 | or to any
other person related to the subject matter of the | ||||||
7 | agency, except that
revocation and amendment of health care | ||||||
8 | agencies are governed by Section 4-6
of this Act except to the | ||||||
9 | extent the terms of the agencies are inconsistent
with that | ||||||
10 | Section. The execution of a power of attorney does not revoke a | ||||||
11 | power of attorney previously executed by the principal unless | ||||||
12 | the subsequent power of attorney provides that the previous | ||||||
13 | power of attorney is revoked or that all other powers of | ||||||
14 | attorney are revoked.
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15 | (b) Notwithstanding the provisions of subsection (a), an | ||||||
16 | excluded power of attorney may be revoked only by the mechanism | ||||||
17 | provided in that power of attorney or, if none, by written | ||||||
18 | instrument signed by the principal and the agent making | ||||||
19 | specific reference to the excluded power of attorney in | ||||||
20 | question. An excluded power of attorney is not revoked by a | ||||||
21 | subsequent power of attorney, including but not limited to a | ||||||
22 | subsequent power of attorney that states that all other powers | ||||||
23 | of attorney are revoked. | ||||||
24 | (Source: P.A. 96-1195, eff. 7-1-11.)
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25 | (755 ILCS 45/3-3) (from Ch. 110 1/2, par. 803-3)
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1 | (Text of Section before amendment by P.A. 96-1195 )
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2 | Sec. 3-3. Statutory short form power of attorney for | ||||||
3 | property. The
following form may be known as "statutory | ||||||
4 | property power" and may be used
to grant an agent powers with | ||||||
5 | respect to property and financial matters.
When a power of | ||||||
6 | attorney in substantially the following form is used,
including | ||||||
7 | the "notice" paragraph at the beginning in capital letters and
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8 | the notarized form of acknowledgment at the end, it shall have | ||||||
9 | the meaning
and effect prescribed in this Act. The validity of | ||||||
10 | a power of attorney as
meeting the requirements of a statutory | ||||||
11 | property power shall not be
affected by the fact that one or | ||||||
12 | more of the categories of optional powers
listed in the form | ||||||
13 | are struck out or the form includes specific
limitations on or | ||||||
14 | additions to the agent's powers, as permitted by the
form. | ||||||
15 | Nothing in this Article shall invalidate or bar use by the
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16 | principal of any other or different form of power of attorney | ||||||
17 | for property.
Nonstatutory property powers must be executed by | ||||||
18 | the principal and
designate the agent and the agent's powers, | ||||||
19 | but they need not be acknowledged
or
conform in any other | ||||||
20 | respect to the statutory property power.
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21 | "ILLINOIS STATUTORY SHORT FORM POWER OF ATTORNEY FOR PROPERTY
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22 | (NOTICE: THE PURPOSE OF THIS POWER OF ATTORNEY IS TO GIVE | ||||||
23 | THE PERSON YOU
DESIGNATE (YOUR "AGENT") BROAD POWERS TO HANDLE | ||||||
24 | YOUR PROPERTY, WHICH MAY
INCLUDE POWERS TO PLEDGE, SELL OR | ||||||
25 | OTHERWISE DISPOSE OF ANY REAL OR PERSONAL
PROPERTY WITHOUT | ||||||
26 | ADVANCE NOTICE TO YOU OR APPROVAL BY YOU. THIS FORM DOES
NOT |
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1 | IMPOSE A DUTY ON YOUR AGENT TO EXERCISE GRANTED POWERS; BUT | ||||||
2 | WHEN POWERS
ARE EXERCISED, YOUR AGENT WILL HAVE TO USE DUE CARE | ||||||
3 | TO ACT FOR YOUR
BENEFIT AND IN ACCORDANCE WITH THIS FORM AND | ||||||
4 | KEEP A RECORD OF RECEIPTS,
DISBURSEMENTS AND SIGNIFICANT | ||||||
5 | ACTIONS TAKEN AS AGENT. A COURT CAN TAKE AWAY THE POWERS
OF | ||||||
6 | YOUR AGENT IF IT FINDS THE AGENT IS NOT ACTING PROPERLY. YOU | ||||||
7 | MAY NAME
SUCCESSOR AGENTS UNDER THIS FORM BUT NOT CO-AGENTS. | ||||||
8 | UNLESS YOU EXPRESSLY
LIMIT THE DURATION OF THIS POWER IN THE | ||||||
9 | MANNER PROVIDED BELOW, UNTIL YOU
REVOKE THIS POWER OR A COURT | ||||||
10 | ACTING ON YOUR BEHALF TERMINATES IT, YOUR
AGENT MAY EXERCISE | ||||||
11 | THE POWERS GIVEN HERE THROUGHOUT YOUR LIFETIME, EVEN
AFTER YOU | ||||||
12 | BECOME DISABLED. THE POWERS YOU GIVE YOUR AGENT ARE EXPLAINED
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13 | MORE FULLY IN SECTION 3-4 OF THE ILLINOIS "STATUTORY SHORT FORM | ||||||
14 | POWER OF
ATTORNEY FOR PROPERTY LAW" OF WHICH THIS FORM IS A | ||||||
15 | PART
(SEE THE BACK OF THIS FORM). THAT LAW EXPRESSLY PERMITS | ||||||
16 | THE USE OF ANY
DIFFERENT FORM OF POWER OF ATTORNEY YOU MAY | ||||||
17 | DESIRE. IF THERE IS ANYTHING
ABOUT THIS FORM THAT YOU DO NOT | ||||||
18 | UNDERSTAND, YOU SHOULD ASK A LAWYER TO EXPLAIN
IT TO YOU.)
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19 | POWER OF ATTORNEY made this .... day of ....... (month) | ||||||
20 | ...... (year)
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21 | 1. I, ..............., (insert name and address of | ||||||
22 | principal)
hereby appoint:
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23 | .............................................................
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24 | (insert name and address of agent)
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25 | as my attorney-in-fact (my "agent") to act for me and in my | ||||||
26 | name (in any
way I could act in person) with respect to the |
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1 | following powers, as defined
in Section 3-4 of the "Statutory | ||||||
2 | Short Form Power of Attorney for Property Law"
(including all | ||||||
3 | amendments), but subject to any limitations on or additions
to | ||||||
4 | the specified powers inserted in paragraph 2 or 3 below:
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5 | (YOU MUST STRIKE OUT ANY ONE OR MORE OF THE FOLLOWING | ||||||
6 | CATEGORIES OF
POWERS YOU DO NOT WANT YOUR AGENT TO HAVE. | ||||||
7 | FAILURE TO STRIKE THE TITLE
OF ANY CATEGORY WILL CAUSE THE | ||||||
8 | POWERS DESCRIBED IN THAT CATEGORY TO BE
GRANTED TO THE AGENT. | ||||||
9 | TO STRIKE OUT A CATEGORY YOU MUST DRAW A LINE
THROUGH THE TITLE | ||||||
10 | OF THAT CATEGORY.)
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11 | (a) Real estate transactions.
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12 | (b) Financial institution transactions.
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13 | (c) Stock and bond transactions.
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14 | (d) Tangible personal property transactions.
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15 | (e) Safe deposit box transactions.
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16 | (f) Insurance and annuity transactions.
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17 | (g) Retirement plan transactions.
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18 | (h) Social Security, employment and military service | ||||||
19 | benefits.
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20 | (i) Tax matters.
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21 | (j) Claims and litigation.
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22 | (k) Commodity and option transactions.
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23 | (l) Business operations.
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24 | (m) Borrowing transactions.
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25 | (n) Estate transactions.
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1 | (o) All other property powers and transactions.
| ||||||
2 | (LIMITATIONS ON AND ADDITIONS TO THE AGENT'S POWERS MAY BE | ||||||
3 | INCLUDED IN THIS
POWER OF ATTORNEY IF THEY ARE SPECIFICALLY | ||||||
4 | DESCRIBED BELOW.)
| ||||||
5 | 2. The powers granted above shall not include the following | ||||||
6 | powers or
shall be modified or limited in the following | ||||||
7 | particulars (here you may
include any specific limitations you | ||||||
8 | deem appropriate, such as a
prohibition or conditions on the | ||||||
9 | sale of particular stock or real estate or
special rules on | ||||||
10 | borrowing by the agent):
| ||||||
11 | .............................................................
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12 | .............................................................
| ||||||
13 | .............................................................
| ||||||
14 | .............................................................
| ||||||
15 | .............................................................
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16 | 3. In addition to the powers granted above, I grant my | ||||||
17 | agent the
following powers (here you may add any other | ||||||
18 | delegable powers including,
without limitation, power to make | ||||||
19 | gifts, exercise powers of appointment,
name or change | ||||||
20 | beneficiaries or joint tenants or revoke or amend any trust
| ||||||
21 | specifically referred to below):
| ||||||
22 | .............................................................
| ||||||
23 | .............................................................
| ||||||
24 | .............................................................
| ||||||
25 | .............................................................
| ||||||
26 | .............................................................
|
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1 | (YOUR AGENT WILL HAVE AUTHORITY TO EMPLOY OTHER PERSONS AS | ||||||
2 | NECESSARY TO
ENABLE THE AGENT TO PROPERLY EXERCISE THE POWERS | ||||||
3 | GRANTED IN THIS FORM, BUT
YOUR AGENT WILL HAVE TO MAKE ALL | ||||||
4 | DISCRETIONARY DECISIONS. IF YOU WANT TO
GIVE YOUR AGENT THE | ||||||
5 | RIGHT TO DELEGATE DISCRETIONARY DECISION-MAKING POWERS
TO | ||||||
6 | OTHERS, YOU SHOULD KEEP THE NEXT SENTENCE, OTHERWISE IT SHOULD | ||||||
7 | BE STRUCK OUT.)
| ||||||
8 | 4. My agent shall have the right by written instrument to | ||||||
9 | delegate any
or all of the foregoing powers involving | ||||||
10 | discretionary decision-making to
any person or persons whom my | ||||||
11 | agent may select, but such delegation may be
amended or revoked | ||||||
12 | by any agent (including any successor) named by me who
is | ||||||
13 | acting under this power of attorney at the time of reference.
| ||||||
14 | (YOUR AGENT WILL BE ENTITLED TO REIMBURSEMENT FOR ALL | ||||||
15 | REASONABLE EXPENSES
INCURRED IN ACTING UNDER THIS POWER OF | ||||||
16 | ATTORNEY. STRIKE OUT THE NEXT
SENTENCE IF YOU DO NOT WANT YOUR | ||||||
17 | AGENT TO ALSO BE ENTITLED TO REASONABLE
COMPENSATION FOR | ||||||
18 | SERVICES AS AGENT.)
| ||||||
19 | 5. My agent shall be entitled to reasonable compensation | ||||||
20 | for services
rendered as agent under this power of attorney.
| ||||||
21 | (THIS POWER OF ATTORNEY MAY BE AMENDED OR REVOKED BY YOU AT ANY | ||||||
22 | TIME AND IN
ANY MANNER. ABSENT AMENDMENT OR REVOCATION, THE | ||||||
23 | AUTHORITY GRANTED IN THIS
POWER OF ATTORNEY WILL BECOME | ||||||
24 | EFFECTIVE AT THE TIME THIS POWER IS SIGNED
AND WILL CONTINUE | ||||||
25 | UNTIL YOUR DEATH UNLESS A LIMITATION ON THE BEGINNING
DATE OR | ||||||
26 | DURATION IS MADE BY INITIALING AND COMPLETING EITHER (OR BOTH) |
| |||||||
| |||||||
1 | OF
THE FOLLOWING:)
| ||||||
2 | 6. ( ) This power of attorney shall become effective on
| ||||||
3 | .............................................................
| ||||||
4 | (insert a future date or event during your lifetime, such as | ||||||
5 | court
determination of your disability, when you want this | ||||||
6 | power to first take effect)
| ||||||
7 | 7. ( ) This power of attorney shall terminate on
| ||||||
8 | .............................................................
| ||||||
9 | (insert a future date or event, such as court determination of | ||||||
10 | your
disability, when you want this power to terminate prior to | ||||||
11 | your death)
| ||||||
12 | (IF YOU WISH TO NAME SUCCESSOR AGENTS, INSERT THE NAME(S) AND | ||||||
13 | ADDRESS(ES)
OF SUCH SUCCESSOR(S) IN THE FOLLOWING PARAGRAPH.)
| ||||||
14 | 8. If any agent named by me shall die, become incompetent, | ||||||
15 | resign
or refuse to accept the office of agent, I name the | ||||||
16 | following
(each to act alone and successively,
in the order | ||||||
17 | named) as successor(s) to such agent:
| ||||||
18 | .............................................................
| ||||||
19 | .............................................................
| ||||||
20 | For purposes of this paragraph 8, a person shall be considered | ||||||
21 | to be
incompetent if and while the person is a minor or an | ||||||
22 | adjudicated
incompetent or disabled person or the person is | ||||||
23 | unable to give prompt and
intelligent consideration to business | ||||||
24 | matters, as certified by a licensed physician.
(IF YOU WISH TO | ||||||
25 | NAME YOUR AGENT AS
GUARDIAN OF YOUR ESTATE, IN THE EVENT A | ||||||
26 | COURT DECIDES THAT ONE
SHOULD BE APPOINTED, YOU
MAY, BUT ARE |
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| |||||||
1 | NOT REQUIRED TO, DO SO BY RETAINING THE FOLLOWING PARAGRAPH.
| ||||||
2 | THE COURT
WILL APPOINT YOUR AGENT IF THE COURT FINDS THAT SUCH | ||||||
3 | APPOINTMENT WILL SERVE YOUR
BEST INTERESTS AND WELFARE. STRIKE | ||||||
4 | OUT PARAGRAPH 9 IF YOU DO NOT WANT
YOUR AGENT TO ACT AS | ||||||
5 | GUARDIAN.)
| ||||||
6 | 9. If a guardian of my estate (my property) is to be | ||||||
7 | appointed, I
nominate the agent acting under this power of | ||||||
8 | attorney as such guardian,
to serve without bond or security.
| ||||||
9 | 10. I am fully informed as to all the contents of this form | ||||||
10 | and
understand the full import of this grant of powers to my | ||||||
11 | agent.
| ||||||
12 | Signed ..................................................
| ||||||
13 | (principal)
| ||||||
14 | (YOU MAY, BUT ARE NOT REQUIRED TO, REQUEST YOUR AGENT AND | ||||||
15 | SUCCESSOR
AGENTS TO PROVIDE SPECIMEN SIGNATURES BELOW. IF YOU | ||||||
16 | INCLUDE SPECIMEN
SIGNATURES IN THIS POWER OF ATTORNEY, YOU MUST | ||||||
17 | COMPLETE THE CERTIFICATION
OPPOSITE THE SIGNATURES OF THE | ||||||
18 | AGENTS.)
| ||||||
19 | Specimen signatures of I certify that the signatures
| ||||||
20 | agent (and successors) of my agent (and successors)
| ||||||
21 | are correct.
| ||||||
22 | .......................... .............................
| ||||||
23 | (agent) (principal)
| ||||||
24 | .......................... .............................
| ||||||
25 | (successor agent) (principal)
| ||||||
26 | .......................... .............................
|
| |||||||
| |||||||
1 | (successor agent) (principal)
| ||||||
2 | (THIS POWER OF ATTORNEY WILL NOT BE EFFECTIVE UNLESS IT IS | ||||||
3 | NOTARIZED AND
SIGNED BY AT LEAST ONE ADDITIONAL WITNESS,
USING | ||||||
4 | THE FORM BELOW.)
| ||||||
5 | State of ............)
| ||||||
6 | ) SS.
| ||||||
7 | County of ...........)
| ||||||
8 | The undersigned, a notary public in and for the above | ||||||
9 | county and state,
certifies that ......................., | ||||||
10 | known to me to be the same person
whose name is subscribed as | ||||||
11 | principal to the foregoing power of attorney,
appeared before | ||||||
12 | me and the additional witness in person and acknowledged
| ||||||
13 | signing and delivering the
instrument as the free and voluntary | ||||||
14 | act of the principal, for the uses and
purposes therein set | ||||||
15 | forth (, and certified to the correctness of the
signature(s) | ||||||
16 | of the agent(s)).
| ||||||
17 | Dated: ................ (SEAL)
| ||||||
18 | ..............................
| ||||||
19 | Notary Public
| ||||||
20 | My commission expires .................
| ||||||
21 | The undersigned witness certifies that ................, known | ||||||
22 | to me to be
the same person whose name is subscribed as | ||||||
23 | principal to the foregoing power of
attorney, appeared before | ||||||
24 | me and the notary public and acknowledged signing and
| ||||||
25 | delivering the instrument as the free and voluntary act of the | ||||||
26 | principal, for
the
uses and purposes therein set forth. I |
| |||||||
| |||||||
1 | believe him or her to be of sound mind
and memory.
| ||||||
2 | Dated: ................ (SEAL)
| ||||||
3 | ..............................
| ||||||
4 | Witness
| ||||||
5 | (THE NAME AND ADDRESS OF THE PERSON PREPARING THIS FORM SHOULD | ||||||
6 | BE
INSERTED
IF THE AGENT WILL HAVE POWER TO CONVEY ANY INTEREST | ||||||
7 | IN REAL ESTATE.)
| ||||||
8 | This document was prepared by:
| ||||||
9 | .............................................................
| ||||||
10 | ............................................................."
| ||||||
11 | The requirement of the signature of an additional
witness | ||||||
12 | imposed by this amendatory Act of the 91st General
Assembly | ||||||
13 | applies only to instruments executed on or after
the effective | ||||||
14 | date of this amendatory Act of the 91st
General Assembly.
| ||||||
15 | (Source: P.A. 91-790, eff. 6-9-00 .)
| ||||||
16 | (Text of Section after amendment by P.A. 96-1195 )
| ||||||
17 | Sec. 3-3. Statutory short form power of attorney for | ||||||
18 | property. | ||||||
19 | (a) The
form prescribed in this Section may be known as | ||||||
20 | "statutory property power" and may be used
to grant an agent | ||||||
21 | powers with respect to property and financial matters.
The | ||||||
22 | "statutory property power" consists of the following: (1) | ||||||
23 | Notice to the Individual Signing the Illinois Statutory Short | ||||||
24 | Form Power of Attorney for Property; (2) Illinois Statutory | ||||||
25 | Short Form Power of Attorney for Property; and (3) Notice to |
| |||||||
| |||||||
1 | Agent. When a power of attorney in substantially the form | ||||||
2 | prescribed in this Section is used,
including all 3 items | ||||||
3 | above, with item (1), the Notice to Individual Signing the | ||||||
4 | Illinois Statutory Short Form Power of Attorney for Property, | ||||||
5 | on a separate sheet (coversheet) in 14-point type and
the | ||||||
6 | notarized form of acknowledgment at the end, it shall have the | ||||||
7 | meaning
and effect prescribed in this Act. | ||||||
8 | (b) A power of attorney shall also be deemed to be in | ||||||
9 | substantially the same format as the statutory form if the | ||||||
10 | explanatory language throughout the form (the language | ||||||
11 | following the designation "NOTE:") is distinguished in some way | ||||||
12 | from the legal paragraphs in the form, such as the use of | ||||||
13 | boldface or other difference in typeface and font or point | ||||||
14 | size, even if the "Notice" paragraphs at the beginning are not | ||||||
15 | on a separate sheet of paper or are not in 14-point type, or if | ||||||
16 | the principal's initials do not appear in the acknowledgement | ||||||
17 | at the end of the "Notice" paragraphs. | ||||||
18 | The validity of a power of attorney as
meeting the | ||||||
19 | requirements of a statutory property power shall not be
| ||||||
20 | affected by the fact that one or more of the categories of | ||||||
21 | optional powers
listed in the form are struck out or the form | ||||||
22 | includes specific
limitations on or additions to the agent's | ||||||
23 | powers, as permitted by the
form. Nothing in this Article shall | ||||||
24 | invalidate or bar use by the
principal of any other or | ||||||
25 | different form of power of attorney for property.
Nonstatutory | ||||||
26 | property powers (i) must be executed by the principal, (ii) |
| |||||||
| |||||||
1 | must
designate the agent and the agent's powers, (iii) must be | ||||||
2 | signed by at least one witness to the principal's signature, | ||||||
3 | and (iv) must indicate that the principal has acknowledged his | ||||||
4 | or her signature before a notary public. However, nonstatutory | ||||||
5 | property powers need not
conform in any other respect to the | ||||||
6 | statutory property power.
| ||||||
7 | (c) The Notice to the Individual Signing the Illinois | ||||||
8 | Statutory Short Form Power of Attorney for Property shall be | ||||||
9 | substantially as follows: | ||||||
10 | "NOTICE TO THE INDIVIDUAL SIGNING THE ILLINOIS | ||||||
11 | STATUTORY SHORT FORM POWER OF ATTORNEY FOR PROPERTY. | ||||||
12 | PLEASE READ THIS NOTICE CAREFULLY. The form that you will | ||||||
13 | be signing is a legal document. It is governed by the Illinois | ||||||
14 | Power of Attorney Act. If there is anything about this form | ||||||
15 | that you do not understand, you should ask a lawyer to explain | ||||||
16 | it to you. | ||||||
17 | The purpose of this Power of Attorney is to give your | ||||||
18 | designated "agent" broad powers to handle your financial | ||||||
19 | affairs, which may include the power to pledge, sell, or | ||||||
20 | dispose of any of your real or personal property, even without | ||||||
21 | your consent or any advance notice to you. When using the | ||||||
22 | Statutory Short Form, you may name successor agents, but you | ||||||
23 | may not name co-agents. | ||||||
24 | This form does not impose a duty upon your agent to handle |
| |||||||
| |||||||
1 | your financial affairs, so it is important that you select an | ||||||
2 | agent who will agree to do this for you. It is also important | ||||||
3 | to select an agent whom you trust, since you are giving that | ||||||
4 | agent control over your financial assets and property. Any | ||||||
5 | agent who does act for you has a duty to act in good faith for | ||||||
6 | your benefit and to use due care, competence, and diligence. He | ||||||
7 | or she must also act in accordance with the law and with the | ||||||
8 | directions in this form. Your agent must keep a record of all | ||||||
9 | receipts, disbursements, and significant actions taken as your | ||||||
10 | agent. | ||||||
11 | Unless you specifically limit the period of time that this | ||||||
12 | Power of Attorney will be in effect, your agent may exercise | ||||||
13 | the powers given to him or her throughout your lifetime, both | ||||||
14 | before and after you become incapacitated. A court, however, | ||||||
15 | can take away the powers of your agent if it finds that the | ||||||
16 | agent is not acting properly. You may also revoke this Power of | ||||||
17 | Attorney if you wish. | ||||||
18 | This Power
of Attorney does not authorize your agent to | ||||||
19 | appear in court for you as an attorney-at-law or otherwise to | ||||||
20 | engage in the practice of law unless he or she is a licensed | ||||||
21 | attorney who is authorized to practice law in Illinois. | ||||||
22 | The powers you give your agent are explained more fully in | ||||||
23 | Section 3-4 of the Illinois Power of Attorney Act. This form is | ||||||
24 | a part of that law. The "NOTE" paragraphs throughout this form | ||||||
25 | are instructions. | ||||||
26 | You are not required to sign this Power of Attorney, but it |
| |||||||
| |||||||
1 | will not take effect without your signature. You should not | ||||||
2 | sign this Power of Attorney if you do not understand everything | ||||||
3 | in it, and what your agent will be able to do if you do sign it. | ||||||
4 | Please place your initials on the following line indicating | ||||||
5 | that you have read this Notice: | ||||||
6 | ..................... | ||||||
7 | Principal's initials" | ||||||
8 | (d) The Illinois Statutory Short Form Power of Attorney for | ||||||
9 | Property shall be substantially as follows: | ||||||
10 | "ILLINOIS STATUTORY SHORT FORM | ||||||
11 | POWER OF ATTORNEY FOR PROPERTY
| ||||||
12 | 1. I, ..............., (insert name and address of | ||||||
13 | principal)
hereby revoke all prior powers of attorney for | ||||||
14 | property executed by me , other than excluded powers of attorney | ||||||
15 | as defined in the Illinois Power of Attorney Act, and appoint:
| ||||||
16 | .............................................................
| ||||||
17 | (insert name and address of agent)
| ||||||
18 | (NOTE: You may not name co-agents using this form.) | ||||||
19 | as my attorney-in-fact (my "agent") to act for me and in my | ||||||
20 | name (in any
way I could act in person) with respect to the | ||||||
21 | following powers, as defined
in Section 3-4 of the "Statutory | ||||||
22 | Short Form Power of Attorney for Property Law"
(including all |
| |||||||
| |||||||
1 | amendments), but subject to any limitations on or additions
to | ||||||
2 | the specified powers inserted in paragraph 2 or 3 below:
| ||||||
3 | (NOTE: You must strike out any one or more of the following | ||||||
4 | categories of
powers you do not want your agent to have. | ||||||
5 | Failure to strike the title
of any category will cause the | ||||||
6 | powers described in that category to be
granted to the agent. | ||||||
7 | To strike out a category you must draw a line
through the title | ||||||
8 | of that category.)
| ||||||
9 | (a) Real estate transactions.
| ||||||
10 | (b) Financial institution transactions.
| ||||||
11 | (c) Stock and bond transactions.
| ||||||
12 | (d) Tangible personal property transactions.
| ||||||
13 | (e) Safe deposit box transactions.
| ||||||
14 | (f) Insurance and annuity transactions.
| ||||||
15 | (g) Retirement plan transactions.
| ||||||
16 | (h) Social Security, employment and military service | ||||||
17 | benefits.
| ||||||
18 | (i) Tax matters.
| ||||||
19 | (j) Claims and litigation.
| ||||||
20 | (k) Commodity and option transactions.
| ||||||
21 | (l) Business operations.
| ||||||
22 | (m) Borrowing transactions.
| ||||||
23 | (n) Estate transactions.
| ||||||
24 | (o) All other property transactions.
| ||||||
25 | (NOTE: Limitations on and additions to the agent's powers may |
| |||||||
| |||||||
1 | be included in this power of attorney if they are specifically | ||||||
2 | described below.)
| ||||||
3 | 2. The powers granted above shall not include the following | ||||||
4 | powers or
shall be modified or limited in the following | ||||||
5 | particulars: | ||||||
6 | (NOTE: Here you may
include any specific limitations you deem | ||||||
7 | appropriate, such as a
prohibition or conditions on the sale of | ||||||
8 | particular stock or real estate or
special rules on borrowing | ||||||
9 | by the agent.)
| ||||||
10 | .............................................................
| ||||||
11 | .............................................................
| ||||||
12 | .............................................................
| ||||||
13 | .............................................................
| ||||||
14 | .............................................................
| ||||||
15 | 3. In addition to the powers granted above, I grant my | ||||||
16 | agent the
following powers: | ||||||
17 | (NOTE: Here you may add any other delegable powers including,
| ||||||
18 | without limitation, power to make gifts, exercise powers of | ||||||
19 | appointment,
name or change beneficiaries or joint tenants or | ||||||
20 | revoke or amend any trust
specifically referred to below.)
| ||||||
21 | .............................................................
| ||||||
22 | .............................................................
| ||||||
23 | .............................................................
| ||||||
24 | .............................................................
| ||||||
25 | .............................................................
| ||||||
26 | (NOTE: Your agent will have authority to employ other persons |
| |||||||
| |||||||
1 | as necessary to enable the agent to properly exercise the | ||||||
2 | powers granted in this form, but your agent will have to make | ||||||
3 | all discretionary decisions. If you want to give your agent the | ||||||
4 | right to delegate discretionary decision-making powers to | ||||||
5 | others, you should keep paragraph 4, otherwise it should be | ||||||
6 | struck out.)
| ||||||
7 | 4. My agent shall have the right by written instrument to | ||||||
8 | delegate any
or all of the foregoing powers involving | ||||||
9 | discretionary decision-making to
any person or persons whom my | ||||||
10 | agent may select, but such delegation may be
amended or revoked | ||||||
11 | by any agent (including any successor) named by me who
is | ||||||
12 | acting under this power of attorney at the time of reference.
| ||||||
13 | (NOTE: Your agent will be entitled to reimbursement for all | ||||||
14 | reasonable expenses incurred in acting under this power of | ||||||
15 | attorney. Strike out paragraph 5 if you do not want your agent | ||||||
16 | to also be entitled to reasonable compensation for services as | ||||||
17 | agent.)
| ||||||
18 | 5. My agent shall be entitled to reasonable compensation | ||||||
19 | for services
rendered as agent under this power of attorney.
| ||||||
20 | (NOTE: This power of attorney may be amended or revoked by you | ||||||
21 | at any time and in any manner. Absent amendment or revocation, | ||||||
22 | the authority granted in this power of attorney will become | ||||||
23 | effective at the time this power is signed and will continue | ||||||
24 | until your death, unless a limitation on the beginning date or | ||||||
25 | duration is made by initialing and completing one or both of | ||||||
26 | paragraphs 6 and 7:)
|
| |||||||
| |||||||
1 | 6. ( ) This power of attorney shall become effective on
| ||||||
2 | .............................................................
| ||||||
3 | (NOTE: Insert a future date or event during your lifetime, such | ||||||
4 | as a court
determination of your disability or a written | ||||||
5 | determination by your physician that you are incapacitated, | ||||||
6 | when you want this power to first take effect.)
| ||||||
7 | 7. ( ) This power of attorney shall terminate on
| ||||||
8 | .............................................................
| ||||||
9 | (NOTE: Insert a future date or event, such as a court | ||||||
10 | determination that you are not under a legal disability or a | ||||||
11 | written determination by your physician that you are not | ||||||
12 | incapacitated, if you want this power to terminate prior to | ||||||
13 | your death.)
| ||||||
14 | (NOTE: If you wish to name one or more successor agents, insert | ||||||
15 | the name and address of each successor agent in paragraph 8.)
| ||||||
16 | 8. If any agent named by me shall die, become incompetent, | ||||||
17 | resign
or refuse to accept the office of agent, I name the | ||||||
18 | following
(each to act alone and successively,
in the order | ||||||
19 | named) as successor(s) to such agent:
| ||||||
20 | .............................................................
| ||||||
21 | .............................................................
| ||||||
22 | For purposes of this paragraph 8, a person shall be considered | ||||||
23 | to be
incompetent if and while the person is a minor or an | ||||||
24 | adjudicated
incompetent or disabled person or the person is | ||||||
25 | unable to give prompt and
intelligent consideration to business | ||||||
26 | matters, as certified by a licensed physician.
|
| |||||||
| |||||||
1 | (NOTE: If you wish to, you may name your agent as guardian of | ||||||
2 | your estate if a court decides that one should be appointed. To | ||||||
3 | do this, retain paragraph 9, and the court will appoint your | ||||||
4 | agent if the court finds that this appointment will serve your | ||||||
5 | best interests and welfare. Strike out paragraph 9 if you do | ||||||
6 | not want your agent to act as guardian.)
| ||||||
7 | 9. If a guardian of my estate (my property) is to be | ||||||
8 | appointed, I
nominate the agent acting under this power of | ||||||
9 | attorney as such guardian,
to serve without bond or security.
| ||||||
10 | 10. I am fully informed as to all the contents of this form | ||||||
11 | and
understand the full import of this grant of powers to my | ||||||
12 | agent.
| ||||||
13 | (NOTE: This form does not authorize your agent to appear in | ||||||
14 | court for you as an attorney-at-law or otherwise to engage in | ||||||
15 | the practice of law unless he or she is a licensed attorney who | ||||||
16 | is authorized to practice law in Illinois.) | ||||||
17 | 11. The Notice to Agent is incorporated by reference and | ||||||
18 | included as part of this form. | ||||||
19 | Dated: ................ | ||||||
20 | Signed ..........................................
| ||||||
21 | (principal)
| ||||||
22 | (NOTE: This power of attorney will not be effective unless it | ||||||
23 | is signed by at least one witness and your signature is | ||||||
24 | notarized, using the form below. The notary may not also sign | ||||||
25 | as a witness.)
|
| |||||||
| |||||||
1 | The undersigned witness certifies that ..............., known | ||||||
2 | to me to be
the same person whose name is subscribed as | ||||||
3 | principal to the foregoing power of
attorney, appeared before | ||||||
4 | me and the notary public and acknowledged signing and
| ||||||
5 | delivering the instrument as the free and voluntary act of the | ||||||
6 | principal, for
the
uses and purposes therein set forth. I | ||||||
7 | believe him or her to be of sound mind
and memory. The | ||||||
8 | undersigned witness also certifies that the witness is not: (a) | ||||||
9 | the attending physician or mental health service provider or a | ||||||
10 | relative of the physician or provider; (b) an owner, operator, | ||||||
11 | or relative of an owner or operator of a health care facility | ||||||
12 | in which the principal is a patient or resident; (c) a parent, | ||||||
13 | sibling, descendant, or any spouse of such parent, sibling, or | ||||||
14 | descendant of either the principal or any agent or successor | ||||||
15 | agent under the foregoing power of attorney, whether such | ||||||
16 | relationship is by blood, marriage, or adoption; or (d) an | ||||||
17 | agent or successor agent under the foregoing power of attorney.
| ||||||
18 | Dated: ................
| ||||||
19 | ..............................
| ||||||
20 | Witness | ||||||
21 | (NOTE: Illinois requires only one witness, but other | ||||||
22 | jurisdictions may require more than one witness. If you wish to | ||||||
23 | have a second witness, have him or her certify and sign here:) |
| |||||||
| |||||||
1 | (Second witness) The undersigned witness certifies that | ||||||
2 | ................, known to me to be the same person whose name | ||||||
3 | is subscribed as principal to the foregoing power of attorney, | ||||||
4 | appeared before me and the notary public and acknowledged | ||||||
5 | signing and delivering the instrument as the free and voluntary | ||||||
6 | act of the principal, for the uses and purposes therein set | ||||||
7 | forth. I believe him or her to be of sound mind and memory. The | ||||||
8 | undersigned witness also certifies that the witness is not: (a) | ||||||
9 | the attending physician or mental health service provider or a | ||||||
10 | relative of the physician or provider; (b) an owner, operator, | ||||||
11 | or relative of an owner or operator of a health care facility | ||||||
12 | in which the principal is a patient or resident; (c) a parent, | ||||||
13 | sibling, descendant, or any spouse of such parent, sibling, or | ||||||
14 | descendant of either the principal or any agent or successor | ||||||
15 | agent under the foregoing power of attorney, whether such | ||||||
16 | relationship is by blood, marriage, or adoption; or (d) an | ||||||
17 | agent or successor agent under the foregoing power of attorney. | ||||||
18 | Dated: ....................... | ||||||
19 | .............................. | ||||||
20 | Witness | ||||||
21 | State of ............)
| ||||||
22 | ) SS.
| ||||||
23 | County of ...........)
| ||||||
24 | The undersigned, a notary public in and for the above | ||||||
25 | county and state,
certifies that ......................., |
| |||||||
| |||||||
1 | known to me to be the same person
whose name is subscribed as | ||||||
2 | principal to the foregoing power of attorney,
appeared before | ||||||
3 | me and the witness(es) ............. (and ..............) in | ||||||
4 | person and acknowledged
signing and delivering the
instrument | ||||||
5 | as the free and voluntary act of the principal, for the uses | ||||||
6 | and
purposes therein set forth (, and certified to the | ||||||
7 | correctness of the
signature(s) of the agent(s)).
| ||||||
8 | Dated: ................
| ||||||
9 | ..............................
| ||||||
10 | Notary Public
| ||||||
11 | My commission expires .................
| ||||||
12 | (NOTE: You may, but are not required to, request your agent and | ||||||
13 | successor agents to provide specimen signatures below. If you | ||||||
14 | include specimen signatures in this power of attorney, you must | ||||||
15 | complete the certification opposite the signatures of the | ||||||
16 | agents.)
| ||||||
17 | Specimen signatures of I certify that the signatures
| ||||||
18 | agent (and successors) of my agent (and successors)
| ||||||
19 | are genuine.
| ||||||
20 | .......................... .............................
| ||||||
21 | (agent) (principal)
| ||||||
22 | .......................... .............................
| ||||||
23 | (successor agent) (principal)
| ||||||
24 | .......................... .............................
|
| |||||||
| |||||||
1 | (successor agent) (principal)
| ||||||
2 | (NOTE: The name, address, and phone number of the person | ||||||
3 | preparing this form or who assisted the principal in completing | ||||||
4 | this form should be inserted below.)
| ||||||
5 | Name: ....................... | ||||||
6 | Address: .................... | ||||||
7 | .............................. | ||||||
8 | .............................. | ||||||
9 | Phone: .................... "
| ||||||
10 | (e) Notice to Agent. The following form may be known as | ||||||
11 | "Notice to Agent" and shall be supplied to an agent appointed | ||||||
12 | under a power of attorney for property. | ||||||
13 | "NOTICE TO AGENT | ||||||
14 | When you accept the authority granted under this power of | ||||||
15 | attorney a special legal relationship, known as agency, is | ||||||
16 | created between you and the principal. Agency imposes upon you | ||||||
17 | duties that continue until you resign or the power of attorney | ||||||
18 | is terminated or revoked. | ||||||
19 | As agent you must: | ||||||
20 | (1) do what you know the principal reasonably expects | ||||||
21 | you to do with the principal's property; | ||||||
22 | (2) act in good faith for the best interest of the | ||||||
23 | principal, using due care, competence, and diligence; |
| |||||||
| |||||||
1 | (3) keep a complete and detailed record of all | ||||||
2 | receipts, disbursements, and significant actions conducted | ||||||
3 | for the principal; | ||||||
4 | (4) attempt to preserve the principal's estate plan, to | ||||||
5 | the extent actually known by the agent, if preserving the | ||||||
6 | plan is consistent with the principal's best interest; and | ||||||
7 | (5) cooperate with a person who has authority to make | ||||||
8 | health care decisions for the principal to carry out the | ||||||
9 | principal's reasonable expectations to the extent actually | ||||||
10 | in the principal's best interest. | ||||||
11 | As agent you must not do any of the following: | ||||||
12 | (1) act so as to create a conflict of interest that is | ||||||
13 | inconsistent with the other principles in this Notice to | ||||||
14 | Agent; | ||||||
15 | (2) do any act beyond the authority granted in this | ||||||
16 | power of attorney; | ||||||
17 | (3) commingle the principal's funds with your funds; | ||||||
18 | (4) borrow funds or other property from the principal, | ||||||
19 | unless otherwise authorized; | ||||||
20 | (5) continue acting on behalf of the principal if you | ||||||
21 | learn of any event that terminates this power of attorney | ||||||
22 | or your authority under this power of attorney, such as the | ||||||
23 | death of the principal, your legal separation from the | ||||||
24 | principal, or the dissolution of your marriage to the | ||||||
25 | principal. | ||||||
26 | If you have special skills or expertise, you must use those |
| |||||||
| |||||||
1 | special skills and expertise when acting for the principal. You | ||||||
2 | must disclose your identity as an agent whenever you act for | ||||||
3 | the principal by writing or printing the name of the principal | ||||||
4 | and signing your own name "as Agent" in the following manner: | ||||||
5 | "(Principal's Name) by (Your Name) as Agent" | ||||||
6 | The meaning of the powers granted to you is contained in | ||||||
7 | Section 3-4 of the Illinois Power of Attorney Act, which is | ||||||
8 | incorporated by reference into the body of the power of | ||||||
9 | attorney for property document. | ||||||
10 | If you violate your duties as agent or act outside the | ||||||
11 | authority granted to you, you may be liable for any damages, | ||||||
12 | including attorney's fees and costs, caused by your violation. | ||||||
13 | If there is anything about this document or your duties | ||||||
14 | that you do not understand, you should seek legal advice from | ||||||
15 | an attorney." | ||||||
16 | (f) The requirement of the signature of a witness in | ||||||
17 | addition to the principal and the notary, imposed by Public Act | ||||||
18 | 91-790, applies only to instruments executed on or after June | ||||||
19 | 9, 2000 (the effective date of that Public Act). | ||||||
20 | (NOTE: This amendatory Act of the 96th General Assembly deletes | ||||||
21 | provisions that referred to the one required witness as an | ||||||
22 | "additional witness", and it also provides for the signature of | ||||||
23 | an optional "second witness".)
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24 | (Source: P.A. 96-1195, eff. 7-1-11.)
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1 | Section 95. No acceleration or delay. Where this Act makes | ||||||
2 | changes in a statute that is represented in this Act by text | ||||||
3 | that is not yet or no longer in effect (for example, a Section | ||||||
4 | represented by multiple versions), the use of that text does | ||||||
5 | not accelerate or delay the taking effect of (i) the changes | ||||||
6 | made by this Act or (ii) provisions derived from any other | ||||||
7 | Public Act.
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