In Illinois, a power of attorney is a legal tool that provides someone with the authority to make decisions on behalf of another person. The one who is given that authority is referred to as an attorney-in-fact or agent.
The principal is the person on behalf of whom an agent is allowed to act. Someone’s attorney-in-fact or agent does not have to actually be a lawyer.
For more information about Illinois powers of attorney, the types that may be available, and how they may be beneficial for someone, it can be helpful to have a lawyer consultation.
What Are the Requirements for a Power of Attorney in Illinois?
An Illinois power of attorney has to be in writing. The agent who is granted rights in the document is allowed to exercise all of the rights they are given. The agent or attorney-in-fact is not allowed to act outside the scope of the rights that they were provided.
A power of attorney must usually be dated and signed by the principal. As with other types of legal documents, principals have to have the required mental capacity to enter into the power of attorney.
Other requirements may apply to create a valid power of attorney, for example, the principal being required to sign the power of attorney itself before a notary public. The agent may also have to sign the document before an Illinois notary public.
Illinois lawyers can help potential clients and clients alike with Illinois power of attorney drafting to ensure that their client’s documents are valid and enforceable under Illinois law.
What Types of Powers of Attorneys Exist?
Different powers of attorney are available for individuals to create, depending on their needs and situation. Common examples are general powers of attorney, medical powers of attorney, and financial powers of attorney.
General powers of attorney give an agent broad authority to act on behalf of the principal in most of their legal and financial matters, such as paying bills and filing taxes. This can be used when a principal wants to give their agent the right to handle numerous tasks.
Medical powers of attorney give agents the right to make decisions about treatments for the principal, such as pain management, end-of-life care, and other issues. These can be limited to specific situations or issues or can be general to all medical issues.
Financial powers of attorney allow agents to make financial decisions on the principal’s behalf. These can also be limited to certain financial transactions or general for all financial issues.
Powers of attorney with gifting clauses provide agents with the right to give gifts on behalf of principals. A power of attorney can be a durable power of attorney or a non-durable power of attorney.
A durable POA will last beyond the incapacity of the grantor. It will, however, end when the principal dies.
A non-durable power of attorney, in contrast, ends by operation of law if the principal becomes incapacitated or dies.
What Types of Decisions May a Power of Attorney Be Used For?
A power of attorney can be used for a variety of decisions, both specific and general. General powers of attorney provide agents with more comprehensive rights.
An agent will usually have the same rights and powers as the principal, including paying bills, signing documents, and making decisions related to real and personal property. A general power of attorney may be used even if the principal becomes incapacitated, as noted above.
It will, however, terminate when the principal passes away. It can also end if the principal themselves revokes the document.
Powers of attorney can also be granted for specific transactions or issues. These types of powers of attorney are referred to as limited powers of attorney. They allow the agent to act on behalf of the principal for specifically named issues.
When Does a Power of Attorney Go Into Effect in Illinois?
Many people wonder, when does power of attorney kick in in Illinois. This will depend on the language of the document.
It can go into effect immediately when it is signed, on a future date, or when a future event occurs. They can also go into effect based on verbal instructions or when someone cannot sign a document because they are out of the country.
Every power of attorney will have its own language that outlines when it goes into effect. Because of these many possibilities, it is important to reach out to an Illinois lawyer for more information.
What Are Two Common Scenarios Where Powers of Attorneys Are Used?
One of the common scenarios when powers of attorney are used include health care proxies. These are used when a principal appoints an agent to make their healthcare decisions.
This will not go into effect until the principal becomes incapacitated. In order to be a valid document, the health care proxy must be drafted and signed by the principal.
In the State of Illinois, the principal has to be an adult, of sound mind, sign the document, and also have two adult witnesses sign the document. It is not required to notarize the document.
Powers of attorney are also often used for estate planning. These documents give agents the right to manage assets that may be part of the principal’s estate when they pass away.
What Are Power of Attorney Scams?
Power of attorney scams happen when someone deceives a principal into letting them act as their agent. These scams are commonly used on elderly individuals.
They can also be perpetrated between family members and friends. These can be avoided by giving clear instructions in the power of attorney about when it goes into effect and what it is for.
These scams are often successful when principals are not clear about how the agent relationship begins. When this happens, agents can engage in conduct that the principal did not intend.
Do I Need an Illinois Lawyer for Help With Power of Attorney Arrangements?
If you are thinking of creating an Illinois power of attorney, have concerns about an existing power of attorney, or have been named an agent, an Illinois estate lawyer can help. An estate attorney can help make sure that the power of attorney is legally valid and clearly written.
A lawyer can also explain your obligations if you are the agent in a power of attorney. If disputes arise, your Illinois lawyer can help you resolve them as efficiently as possible.
Use LegalMatch’s no cost lawyer matching services in as little as 15 minutes today to find an Illinois estate attorney in your area who can help you with your power of attorney needs. Once you have submitted your power of attorney question or issue, you will receive responses from Illinois member attorneys who are able to help.
These responses will include each lawyer’s fee information, background, and reviews from their former clients. You can communicate with as many responding lawyers as you like for free and decide the best fit for your needs.
Having a lawyer draft your power attorney can save you money and time in the future by avoiding disputes and providing clear instructions to your agent.
