Illinois Limited Power of Attorney Form
An Illinois limited power of attorney is a form completed by a resident of Illinois to give someone they know and trust the ability to carry out tasks in their place. The person writing the document is called the “principal”, whereas the person who is assigned the tasks is called the “agent” or “attorney-in-fact.” The agent must perform the duties exactly as stated in the form. It is short-lasting as it ends once the duties have been completed. A principal can set bounds on the time that an agent has power by setting a start and end date. If the agent exceeds the limits of the document, the principal is able to take away their authority by filling out an Illinois revocation form.
This document is used for very specific duties, such as when a principal needs an agent to cash a check for them. A general power of attorney is better suited for financial duties that are long-lasting. A medical or durable power of attorney is used when a principal wants an agent to make decisions for them indefinitely. This means that the form lasts even if the principal is unable to make decisions for themselves, such as if they suffer from Alzheimer’s or a serious brain injury. However, a limited power of attorney ends under these circumstances.
A principal could complete this form in the following situations: 1.) A business owner needs their partner to sign a check on their behalf. 2.) An investment advisor has requested this document to manage a client’s portfolio. 3.) A husband needs his wife to sign a legal document for him because he cannot physically be there.
Signing requirements (755 ILCS 45/3-3(b)): The form must be signed by one (1) witness and notarized.