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An Illinois statutory short form power of attorney,
limited or
general, for property. You may appoint an agent or guardian to represent
you in transactions involving real estate, financial institutions,
stocks and bonds, tangible personal property, safety deposit boxes,
insurance and annuities, retirement plans, taxes, litigation, loans,
social security and employment benefits and all other property powers
and transactions. You can designate when the power of attorney
begins and when it terminates.
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ADDITIONAL INFORMATION ABOUT THIS POWER OF ATTORNEY |
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General Power of Attorney
If this is to be a general power of attorney, do not cross off any of the
powers enumerated. If you are granting a general power of attorney over
your finances your agent must act in your best interest and failure to do
so may result in criminal charges or civil liability.
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Limited Power of Attorney
If this is to be a limited power of attorney then you must
cross off the powers you do not want your agent to have. You may
also specify limitations of your agent while filling out the information
form. For example, if you only want your agent to sell your
automobile you should so specify and identify the automobile your agent is
authorized to sell. If your agent is only authorized to sell real
estate, you should specify and include the legal description of the
property. If your agent is only authorized to sell for a specific
price you must indicate this while filling out the information form.
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Revocation of Power of
Attorney
Unless your power of attorney expires by its terms, you have a right to
revoke your power of attorney at any time by oral or written notice to
your agent. Notice of the revocation should be given to anyone who has
knowledge of the agency that may be adversely affected.
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Compensation of Agent
You may provide that your agent is entitled to reasonable compensation
while acting as your agent.
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Executing and Delivering Your Power of Attorney
After you have printed your
power of attorney you must gather two witnesses over eighteen (18) and
appear before a notary public for signing. Neither witness may be
the agent designated in the power of attorney. You may, but are not
required, to request your agent and successors you name to provide a
specimen signature. You should then
deliver the original to your agent and retain a copy for your files.
This power of attorney is approximately four pages. |
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