Illinois Limited Power of Attorney
An Illinois limited power of attorney (POA) 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 complete the duties exactly as stated in the form. If a principal feels that the agent is exceeding the limits of the POA, they can take away their power by filling out an Illinois revocation form.
Signing requirements (ILCS 45/3-3(b)): The form must be signed by one (1) witness and notarized.
How Long Does a Limited Power of Attorney Last?
A limited POA is not long-lasting as the tasks must be carried out by the agent by a certain date. Once the duties have been completed, the form is no longer valid.
This document is used for specific duties, unlike a general POA, which assigns broader power. For instance, if a principal needs someone to cash a check for them, they fill out a limited POA. However, if they want to give someone full access to their finances, they use a general POA.
A medical POA and durable POA are different from the limited type, as well. Medical and durable forms remain in effect even if the principal is unable to make decisions for themselves (i.e. Alzheimer’s, serious accident, disease, etc.). However, a limited POA ends under these circumstances.
Examples of when to use this document are as follows:
- A business owner needs their partner to sign a check on their behalf.
- An investment advisor has requested this document to manage a client’s portfolio.
- A husband needs his wife to sign a legal document for him because he cannot physically be there.