How to sign a power of attorney in Illinois?

How to sign a power of attorney in Illinois?

1 A designation of an agent and a written description of their powers 2 A properly signed power of attorney document (signed by the principal) 3 A properly witnessed and signed power of attorney document (by an individual at least 18 years old)

What are the general Poa requirements in Illinois?

What are the general POA requirements? 1 Designate the agent and the agent’s powers. 2 Be properly signed (executed) by the principal. 3 Be signed by at least one witness to the principal’s signature. 4 Indicate that the principal has acknowledged his or her signature before a notary public (the notary public may not also be the witness)

How old do you have to be to sign power of attorney?

A properly signed power of attorney document (signed by the principal) A properly witnessed and signed power of attorney document (by an individual at least 18 years old) The principal must acknowledge and identify their own signature and have the document notarized (the notary public may also be a witness)

Who is the principal in a power of attorney?

The person granting the authority to act on their behalf is referred to as the “principal”, and the person being given the authority is referred to as the “agent” (or sometimes the “attorney-in-fact”). The agent does not have to be a lawyer, and is oftentimes a close friend or family member.

What are the requirements for a power of attorney in Illinois?

The basic requirements for a power of attorney in Illinois for financial matters are that it must: Designate the agent and the agent’s powers Be properly signed (executed) by the principal Be signed by at least one witness to the principal’s signature

When is drafting a power of attorney illegal?

A person must be competent in order to appoint an agent to legally act on their behalf. Drafting a POA when a principal is not capable of understanding its function and meaning is illegal.

How old do you have to be to get a POA in Illinois?

For both financial and healthcare POAs, agents and witnesses must be at least 18 years of age. There are limitations as to who may be a witness. Does Illinois have a financial power of attorney form?

What happens when you sign a power of attorney?

As an attorney-in-fact, you must act in the principal’s best interest, and adhere to their wishes when signing documents for them. This means doing what the principal would want you to do, no matter what. A durable power of attorney form remains effective if you become incapacitated and unable to communicate your wishes.