There may come a time in your life when you are incapacitated and not able to control your finances or to direct your own health care decisions. In Illinois, there are documents referred to as ‘power of attorney forms’ you can employ to chart the course of your business affairs and your medical needs when you cannot.
By filling out the Financial Power of Attorney document, you designate an individual to act as your Agent, and to direct monetary decisions such as businesses, steward your investments, pay and disburse funds as needed, as well as deal with banks, insurance companies and the government.
Similarly, in this state the Durable Power of Attorney for Health Care performs an analogous function in charting the direction of your health care when you are incapacitated. It comes in two parts. In the Living Will, also known as the Declaration, you leave written instructions as to when and if you are to receive different types of health care. The second part is the Durable Power of Attorney for Health Care through which you name an individual to make day-to-day decisions on your behalf.
Under the Illinois Power of Attorney Act all forms need to be signed with at least one (1) witness in order for it to be considered legal within the State.
Under the Illinois law, the person you name as your Agent does not have to be an actual attorney, but he or she must be a trustworthy person able to grasp the breath and depth of your financial affairs. Local availability is also an important factor in the choice, because much of the job of the Agent is best performed face-to-face with the businesspeople that…
Authorize a general power of attorney form and act for another person’s financial interest by completing this form and signing in front of at least one witness but a notary public is highly recommended. You will have the unrestricted power to handle any type of financial decision on behalf of the other person and in their best interest including; Real estate transactions. Financial institution transactions….
Allows a person to handle a specific monetary action on behalf of another person. An example could be anything from picking up a car to purchasing or selling a home. All decisions made must be in the best interest of the person being represented and the form becomes void directly after the action is complete or at a particular date.
Under Article 4 of the the Illinois Power of Attorney Act, the person you designate as your agent can be any adult. The only person specifically excluded from the choice is your physician. Your agent should share you views as to medical care or end of life treatment, and he or she should be strong willed, calm, and capable of steadfastly defending your views and choices…
It is common for a property owner to elect someone to handle a real estate closing on their behalf. A real estate transaction can usually take up to 3 to 4 hours and allot of the forms being signed are difficult to understand for the average person. Therefore, it is a good idea to hire a qualified real estate attorney to step in and act…
Illinois tax power of attorney lets a person be able to choose or hire a professional to figure and file State taxes with the Department of Revenue. It is highly recommended that you choose someone that is trustworthy as it is ultimately the Principal’s responsibility if there are any mistakes on the filed return.
Form provided by the Illinois Secretary of State, allows a person to be selected to handle any type of vehicle related matter with your local Illinois office. Unlike other power of attorney documents in Illinois, this does not need to be witnessed or notarized, the owner needs to sign and the document is legal for immediate use.
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