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Illinois Durable (Statutory) Power of Attorney Form

An Illinois durable power of attorney is a document that allows a person to appoint someone else to act on their behalf in financial-related decisions. The term "durable" refers to the form remaining valid even if the person who handed over power becomes incapacitated or mentally not able to speak for themselves.
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Signing Requirements

The principal must sign with one witness and a notary public. The agent must sign on the last page located on the Agent’s Certification.[1]

Powers Granted

The principal may grant powers to the agent that include:[2]

  • Real estate transactions;
  • Financial institution transactions;
  • Stock and bond transactions;
  • Tangible personal property transactions;
  • Safe deposit box transactions;
  • Insurance and annuity transactions;
  • Retirement plan transactions;
  • Social Security, employment and military service benefits;
  • Tax matters;
  • Claims and litigation;
  • Commodity and option transactions;
  • Business operations;
  • Borrowing transactions; and
  • Estate transactions.

Additionally, the principal may assign any other delegable powers including, without limitation, power to make gifts, exercise powers of appointment, name or change beneficiaries or joint tenants or revoke or amend any trust specifically referred to in the document.

“Durable” Definition

The Illinois Compiled Statutes do not define “durable,” but refer to enduring through “incapacity” in the Act’s section on Durable Powers of Attorney.

“Power of Attorney” Definition

The Illinois Compiled Statutes do not define “power of attorney,” but refer to an “agency” relationship in the Act’s section on  Durable Powers of Attorney.

Revocation

Unless it is revoked by the principal or contains a description of the conditions under which it terminates, a durable power of attorney only terminates on the death of the agent or when the agent is divorced or legally separated from the principal.[3][4]

Statutory Form

Yes, the State of Illinois has a statutory form.[5]

Sample

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