The Illinois Statutory Short Form Power Of Attorney For Property printable pdf download

OTICE TO THE

NDIVIDUAL

IGNING

THE

LLINOIS

TATUTORY

HORT

ORM

OWER OF

TTORNEY FOR

ROPERTY

PLEASE READ THIS NOTICE CAREFULLY. The form that you will be

signing is a legal document. It is governed by the Illinois Power of Attorney Act.

If there is anything about this form that you do not understand, you should ask a

lawyer to explain it to you.

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. When using the Statutory Short Form, you

may name successor agents, but you may not name co-agents.

This form does not impose a duty upon your agent to handle your financial

affairs, so it is important that you select an agent who will agree to do this for you.

It is also important to select an agent whom you trust, since you are giving that

agent control over your financial assets and property. Any agent who does act for

you has a duty to act in good faith for your benefit and to use due care,

competence, and diligence. He or she must also act in accordance with the law and

with the directions in this form. Your agent must keep a record of all receipts,

disbursements, and significant actions taken as your agent.

Unless you specifically limit the period of time that this Power of Attorney

will be in effect, your agent may exercise the powers given to him or her

throughout your lifetime, both before and after you become incapacitated. A court,

however, can take away the powers of your agent if it finds that the agent is not

acting properly. You may also revoke this Power of Attorney if you wish.

This Power of Attorney does not authorize your agent to appear in court for

you as an attorney-at-law or otherwise to engage in the practice of law unless he or

she is a licensed attorney who is authorized to practice law in Illinois.

The powers you give your agent are explained more fully in Section 3-4 of

the Illinois Power of Attorney Act. This form is a part of that law. The "NOTE"

paragraphs throughout this form are instructions.

You are not required to sign this Power of Attorney, but it will not take

effect without your signature. You should not sign this Power of Attorney if you do

not understand everything in it, and what your agent will be able to do if you do

sign it.

Please place your initials on the following line indicating that you have

read this Notice:

________________________

Principal’s Initials

The Illinois Statutory Short Form Power Of Attorney For Property

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