( check this section for specifics)Īdded Definition of Incapacitated § 755 ILCS 45- 2-3 (c-5) This section lists who may not act as witness. This section restates that all Powers of Attorney must be witnessed and notarized.Limitations on who may witness Property Powers § 755 ILCS 45- 3.3.6 The form now has a Notice to Agent which sets forth the duties and obligations of the Agent. POA must be signed by at least one witness and notarized (notary may not also sign as witness). In the form it prescribes the format of the signature to be " (Principal’s Name) by ( Agent’s Name) as Agent" (also acceptable (Principal’s Name) by ( Agent’s Name) as Attorney-in-Fact"). This section sets forth samples of the forms. A Power of Attorney will be in substantially the prescribe form even if the language in item (1) is not set forth on a separate page but incorporated in the document and is distinguished in some way, such as bold face or different typeface. It also establishes that a power of attorney in substantially the form prescribed with item (1) in 14-point type and notarized as prescribed shall have the same meaning and effect prescribed in the act. It establishes that "statutory property power" prescribed by the Statute consists of (1) Notice to the Individual Signing the Illinois Statutory Short Form Power of Attorney for Property (there is a statement in the notice that informs the Principal that unless the Principal limits the duration of the POA it will be effect for the lifetime of the Principal both before or after the Principal becomes incapacitated) (2) Illinois Statutory Short Form Power of Attorney for Property and (3) Notice to Agent. Statutory Short Form Power of Attorney for Property was amended.Prescribed Form of POA § 755 ILCS 45- 3.3 The form must be signed by the Principal, must designate the agent and agent’s powers, must be witnessed by at least one witness and be notarized.Below are the major highlights of the amendments.Įxecution Requirements § 755 ILCS 45- 3.3 Public Act 096-1195, which amends 755 ILCS 45, became effective July 1, 2011 and amended the Illinois Power of Attorney Act.
0 Comments
Leave a Reply.AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |