 | Illinois General Financial Power of Attorney Form |
The Illinois general financial power of attorney form is a legal and binding document that permits the Principal to grant unlimited financial powers to an Attorney In Fact/Agent of their choice. With this comes permission for the Agent to handle all financial decisions on behalf of the Principal. This being the case, it’s also clearly stated that the Principal never loses their right to attend to their own affairs, further, it does not remain in effect if the Principal becomes incapacitated or disabled.
This document will require at least one (1) witness and a notary acknowledgment. The Agents also must sign in acceptance of the duties described. The Principal must read this document carefully. If the Principal is unsure of any of the language contained within the document, they may consider speaking with an attorney to assist in the translation of the language.
How to Write
Step 1 – Information for the Principal – The Principal should carefully read the information at the beginning of the document as follows:
- Notice
- Incapacitation
- Revocation
- Witness and Notary
Step 2 – Principal’s Information –
- Name of Principal
- Physical Address
- City
- State
Step 3 – Attorney In Fact/Agent’s Information –
- Name of Attorney In Fact./Agent
- Physical Address
- City
- State
Step 4 – Successor Attorney In Fact (Optional) – In the event the original Attorney In Fact/Agent becomes unable or unwilling to serve, the Principal may wish to name a successor agent to take over in this event – Provide the following:
- Name of Successor Agent(s)
- Physical Address(es)
- City(s)
- State(s)
Step 5 – Principal must read the following Titled Sections –
- Terms and Conditions
- Third Parties
- Compensation
- Disclosure
Step 6 – Principal’s Signature – Once the Principal has read the Titled Sections, they must provide the following:
- Printed Name of the Principal
- Date the signature in dd/mm format
- Principal must read the remainder of the paragraph and then provide the Principal’s Signature
Step 7 – Attorney In Fact and Successor Agent –
- Enter the printed names of the Attorney In Fact/Agent and Successors in the applicable paragraphs
- Read the information in the respective paragraphs
- Each must enter their signatures
- Enter the date of the signatures in dd/mm/yyyy format
Step 8 – Notary Acknowledgement –
- The notary will collect and record information from each person’s identification (driver’s license or State ID) – The notary will then witness all signatures and enter their required notary information.
Step 8 – Acknowledgement and Acceptance of Appointment of Attorney In Fact/Agent:
- Read the paragraph
- Enter the printed name of the Agent
- Enter the Agent’s Signature
- Date the signature in mm/dd/yyyy format
Step 9 – Acceptance of Appointment as successor Attorney-in-Fact:
- Read the paragraph
- Enter the printed name of the successor Agent
- Enter the successor Agent’s Signature
- Date the successor’s Signature in mm/dd/yyyy format
Step 10 – Witness Attestation –
- The witness(es) must review the paragraph
- The witness(es) must enter their printed names in the same paragraph
- The witness(es) must enter their respective signatures
- The witness(es) must date their signatures
