Fillable Printable Statutory Short Form Power of Attorney for Property - Illinois

Statutory Short Form Power of Attorney for Property - Illinois

ILLINOIS STATUTORY

SHORT FORM

POWER OF ATTORNEY FOR PROPERTY

Prepared by:

Mail to:

NOTICE TO THE INDIVIDUAL SIGNING THE ILLINOIS

STATUTORY SHORT FORM POWER OF ATTORNEY FOR PROPERTY.

PLEASE READ THIS NOTICE CAREFULLY. The form that you will be signing is a legal

document. It is governed by the Illinois Power of Attorney Act. If there is anything about this form

that you do not understand, you should ask a lawyer to explain it to you.

The purpose of this Power of Attorney is to give your designated "agent" broad powers

to handle your financial affairs, which may include the power to pledge, sell, or dispose of

any of your real or personal property, even without your consent or any advance notice to

you. When using the Statutory Short Form, you may name successor agents, but you may

not name co-agents.

This form does not impose a duty upon your agent to handle your financial affairs, so it

is important that you select an agent who will agree to do this for you. It is also important

to select an agent whom you trust, since you are giving that agent control over your

financial assets and property. Any agent who does act for you has a duty to act in good

faith for your benefit and to use due care, competence, and diligence. He or she must also

act in accordance with the law and with the directions in this form. Your agent must keep a

record of all receipts, disbursements, and significant actions taken as your agent.

Unless you specifically limit the period of time that this Power of Attorney will be in

effect, your agent may exercise the powers given to him or her throughout your lifetime,

both before and after you become incapacitated. A court, however, can take away the

powers of your agent if it finds that the agent is not acting properly. You may also revoke

this Power of Attorney if you wish.

This Power of Attorney does not authorize your agent to appear in court for you as an

attorney-at-law or otherwise to engage in the practice of law unless he or she is a licensed

attorney who is authorized to practice law in Illinois.

The powers you give your agent are explained more fully in Section 3-4 of the Illinois

Power of Attorney Act. This form is a part of that law. The "NOTE" paragraphs throughout

this form are instructions.

You are not required to sign this Power of Attorney, but it will not take effect without

your signature. You should not sign this Power of Attorney if you do not understand

everything in it, and what your agent will be able to do if you do sign it.

Please place your initials on the following line indicating that you have read this Notice:

………………....................

Principal's initials

ILLINOIS STATUTORY SHORT FORM

POWER OF ATTORNEY FOR PROPERTY

1. I, ......................................................................................................................................, (insert name

and address of principal) hereby revoke all prior powers of attorn ey for property executed by me and

appoint: ...............................................................……………………………………………………… ……….

(insert name and address of agent)

(NOTE: You may not nam e co-agents using this form .)

as my attorney-in-fa ct (my "agent") to act for me and in my name (in any way I could act in person) with

respect to the following powers, a s defined in Sectio n 3-4 of the "Statutory Short Form Power of Attorney for

Property Law" (including all amendments), but subjec t to any limitations on or additions to the spe cified

powers inserted in paragraph 2 or 3 below:

(NOTE: You must strike out any one or more of the following categories of powers you do not want your

agent to have. Failure to strike the title of any category will cause the powers described in that categ ory to

be granted to the agent. To strike out a category you must draw a line through th e title of that category.)

(a) Real estate transactions.

(b) Financial institution transaction s.

(d) Tangible personal property transaction s.

(e) Safe deposit box transactions.

(f) Insurance and annuity transactions.

(g) Retirement plan transactions.

(h) Social Security, employment and military service benefits.

(i) Tax matters.

(j) Claims and litigation.

(k) Commodity and option transactions.

(l) Business operations.

(m) Borrowing transactions.

(n) Estate transactions.

(o) All other property transactions.

(NOTE: Limitations o n and additions to the agent's po wers may be included in this power of attorney if they

are specifically de scribed below.)

2. The powers granted above shall not include the following powers or shall be modified or limited in the

following particulars:

(NOTE: Here you may include any specific limitations you deem app ropriate, such as a prohibition or

conditions on the sale of particular stock or real estate or special rules on borro wing by the agent.)

........................................................................................................................................................................

............................................................................................................................................................................

................................................................................................................................................................

3. In addition to the powers granted above, I grant my agent the following powers:

(NOTE: Here you may add any other delegable powers includin g, without limitation, powe r to make gifts,

exercise powers of appointment, name or change beneficiaries o r joint tenants or revoke or a m end any trust

specifically referred to below.)

............................................................................................................................................................................

............................................................................................................................................................

(NOTE: Your agent will have authority to employ other persons as necessary to enable the agent to properly

exercise the powers granted in this form, but your agent will have to make all discretionary decisions. If you

want to give your agent the right to delegate discretionary deci sion-making powers to others, you should

keep paragra ph 4, otherwise it should b e struck out.)

4. My agent shall have the right by written instrument to delegate any or all of the foregoing powers

involving discretionary decision-ma kin g to any person or persons whom my agen t may select, but such

delegation may be amended or revoked by any agent (including any successor) named by me who is a cting

under this power of attorney at the time of reference.

(NOTE: Your agent will be entitled to reimbursement for all reasonable expenses incurred in acting under

this power of attorney. Strike out paragr aph 5 if you do not want your agent to also be entitled to reasonable

compensation for services as agent.)

5. My agent shall be entitled to reason able compensation for services rendere d as ag ent under this powe r

of attorney.

(NOTE: This power of attorney may be amended or re voked b y you at any time and in any manner. Absent

amendm ent or revocation, the autho rity granted in this power of attorney will become effective at the time

this power i s sign ed and will continue until your death, unless a limitation on the beginning date or duration

is made by ini t ialing and completing one or both of paragraphs 6 an d 7.)

6. ( ) This power of attorney shall become effective on

..............................................................

(NOTE: Insert a future date or event during your lifetime, such as a court determination of your disabilit y or a

written determination by your physician that you are incapacitated, when you want this power to first take

effect.)

7. ( ) This power of attorney shall terminate on

..............................................................

(NOTE: Insert a future date or event, such as a court determination that you are not under a legal disability

or a written determination by your physi cian that you are not in capacitated, if you want this power to

terminate prio r to your death.)

(NOTE: If you wish to name one or more successor agent s, insert the name and address of each successor

agent in paragraph 8.)

8. If any agent named by me shall die, become incompetent, resign or refuse to accept the office of agent,

I name the following (each to act alone and su ccessiv ely, in the order named) as successor(s) to such

agent:

............................................................................................................................................................................

....................................................................................................................................................................For

purposes of paragraph 8, a person shall be co nsidered to be incompetent if and while the person is a minor

or an adjudi cated incompetent or disa bled person or the person is unable to give prompt and intelligent

consideration to busine s s matters, as certified by a license d physician.

(NOTE: If you wish to, you m ay name your agent as guardian of your estate if a court decides that one

should be ap pointed. To do this, retain para graph 9, and the court will appoint your agent if the court finds

that this appointment will serve your best interests and welfare. Strike out paragraph 9 if you do not want

your agent to act as g uardian.)

9. If a guardian of my estate (my property) is to be appointed, I nominate the agent actin g under this

power of attorney as such guardian, to serve without bond or security.

10. I am fully informed as to all the contents of this form and understand the full import of this grant of

powers to my agent.

(NOTE: This form does not authorize your agent to appear in court for you as an attorne y-at-law or

otherwise to engage in the practice of law unle s s he or she is a licensed attorne y who is authorize d to

practice law in Illinois.)

11. The Notice to Agent is incorporated by reference and included as part of this form.

Dated: .................................

Signed ..........................................................

(principal)

(NOTE: This power of attorney will not be effective unless it is signed by at lea st one witnes s and your

signature is n otarized, using the form below. The notary may not also sign as a witness.)

The undersigned witness certifies that ........................................................................., known to me to be the

same person whose name is subscribed as principal to the foregoing power of attorney, appeared before me

and the notary public and acknowle dged signing and delivering the instrument as the free and voluntary act

of the principal, for the uses and purposes therein set forth. I believe him or her to be of sou nd mind and

memory. The undersigned witness also certifies that the witness is not: (a) the attending physician or mental

health service provider or a relative of the physician or provider; (b) an owner, operator, or relative of an

owner or operator of a health care facility in which the principal is a patient or resident; (c) a parent, siblin g,

descendant, or any spouse of such parent, sibling, or descendant of either the p rincipal or any agent or

successor agent under the foregoing power of attorney , whether such relationship is by blood, marriage, or

adoption; or (d) an agent or successor a gent under the foregoing power of attorney.

Dated: ......................................

…………..............................

Witness

(NOTE: Illinois requires only one witness, but other jurisdictions may require more than one witness. If you

wish to have a second witness, have him or her ce rtify and sign here:)

(Second witness) The undersigned witness ce rtifies that .................................................., known to me to be

the same person whose name is subscribed as principal to the foregoing power of attorney, appeared before

me and the notary publi c a nd acknowledged signing and delivering the instrumen t as the free and voluntary

act of the principal, for the uses and purposes therein set forth. I believe him or her to be of sound mind a nd

memory. The undersigned witness also certifies that the witness is not: (a) the attending physician or mental

health service provider or a relative of the physician or provider; (b) an owner, operator, or relative of an

owner or operator of a health care facility in which the principal is a patient or resident; (c) a parent, siblin g,

descendant, or any spouse of such parent, sibling, or descendant of either the p rincipal or any agent or

successor agent under the foregoing power of attorney , whether such relationship is by blood, marriage, or

adoption; or (d) an agent or successor a gent under the foregoing power of attorney.

Dated: ..................................

…………………..............................

Witness

State of …………………)

) SS.

County of ......................)

The undersigned, a not ary public in and for the above co unty and state, certifies that

.........................................., known to me to be the same person whose nam e is subscribed as principal to

the foregoing power of attorney, appeared before m e and the witness(es) ..................................................

(and .....................................................) in person and acknowledged signing and delivering the instrument

as the free and voluntary a ct of the prin cipal, for the uses and purposes therein set forth (, and certified to

the correctness of the signature(s) of the agent(s)).

Dated: .......................................

..............................

Notary Public

My commission expires .................

(NOTE: You may, but are not requi red to, request your agent and successor agents to provid e specimen

signatures below. If you include specimen sign atures in this power of attorney, you m ust complete the

certification opposite the signatures of the agents.)

Specimen si gnatures of I certify that the signatures

agent (and successors) of my agent (and successors)

are genuine.

........................................... ..............................................

(agent) (princi pal)

........................................... ..............................................

(successor agent) (princi pal)

........................................... ..............................................

(successor agent) (princi pal)

(NOTE: The name, addres s, and phone number of the person preparing this form or who assisted the

principal in completing this form should b e inserted below.)

Name: ..........................................

Address: ......................................

......................................................

Phone: .............................

"NOTICE TO AGENT

When you accept the authority granted unde r this power of attorney a special legal relationship, known a s

agency, is created bet ween you and the princi pal. Agency imposes upon you dut ies that continue until you

resign or the power of attorney is termin ated or revoked.

As agent you must:

(1) do what you know the principal reasonably expects you to do with the principal's pro perty;

(2) act in good faith for the best interest of the principal, using due care, compet ence, and diligence;

(3) keep a complete and detailed record of all receipts, disbursements, and significant actions

conducted for the principal;

(4) attempt to preserve the principal's estate plan, to the extent actually known by the agent, if

preserving the plan is consistent with the principal's best interest; an d

(5) cooperate with a person who has authority to make health care decisions for the principal t o

carry out the principal's reasonable expectations to the extent actually in the principal's best i ntere st As

agent you must not do any of the following:

(1) act so as to create a conflict of interest that is inconsistent with the other principles in this Notice to

Agent;

(2) do any act beyond the authority granted in this power of attorney;

(3) commingle the principal's funds wit h your funds;

(4) borrow funds or ot her property from the principal, unless otherwise authorized;

(5) continue acting on behalf of the principal if you learn of any event that terminates this power of

attorney or your authority under this power of attorney, such as the death of the principal, your legal

separation fro m the principal, or the dissolution of your marriage to the principal.

If you have special skill s or expertise, you must use those spe cial skills and expertise when acting for the

principal. You must disclose your identity as an agent whenever you act for the principal by wri t ing or printing

the name of the principal a nd signing your own name "as Agent" in the following manner:

"(Principal's Name) by (Your Name) as Agent"

The meaning of the powers granted to you is contained in Section 3-4 of the Illinois Power of Attorney Act,

which is inco rporated by referen ce into the body of the power of attorney for property document.

If you violate your duties as agent or act outside the authority granted to you, you may be liable for any

damages, including attorney's fees and costs, caused by your violation.

If there is anything about this document or your duties that you do not understand, you sho uld seek legal

advice from an attorney."