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The person you give the power of attorney to is the agent and you are the principal. The agent is usually a spouse, a close friend, or a trusted relative. The document does not have to be notarized.
The POA cannot transfer the responsibility to another Agent at any time. The POA cannot make any legal or financial decisions after the death of the Principal, at which point the Executor of the Estate would take over. The POA cannot distribute inheritances or transfer assets after the death of the Principal.
Healthcare POAs make medical decisions on the principal's behalf. Interested principals can find this form in the Illinois Compiled Statutes, Chapter 755, Article 45, Section 4?10. The principal and one witness must sign the form. However, no one has to notarize a medical POA form in Illinois.
For most people, the best option is to have a general durable power of attorney because it gives your agent broad powers that will remain in effect if you lose the ability to handle your own finances. An attorney can customize a general POA to limit powers even more?or add powers, Berkley says.
A medical or health care power of attorney is a type of advance directive in which you name a person to make decisions for you when you are unable to do so. In some states this directive may also be called a durable power of attorney for health care or a health care proxy.