This Power of Attorney is a statutory form which means it has been approved by the state legislature. It provides for the appointment of an attorney-in-fact for various matters, which you select, including property, finances, real estate, business, banking, litigation and many more options. Note: Do not alter this statutory form other than to include the optional provisions listed.
Illinois Statutory With Property 2022
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How to fill out Illinois Statutory General Power Of Attorney With Durable Provisions - Short Form Power Of Attorney For Property?
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The agent is authorized to: accept, receipt for, exercise, release, reject, renounce, assign, disclaim, demand, sue for, claim and recover any legacy, bequest, devise, gift or other property interest or payment due or payable to or for the principal; assert any interest in and exercise any power over any trust, estate ...
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.
3-4. Explanation of powers granted in the statutory short form power of attorney for property. This Section defines each category of powers listed in the statutory short form power of attorney for property and the effect of granting powers to an agent, and is incorporated by reference into the statutory short form.
It is a legally binding document that allows an agent that you choose to make decisions for you and in your place. Unlike a basic power of attorney, which is not effective if you are incapacitated, a durable power of attorney contains special language making it effective even if you become incapacitated.
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-making.