An Illinois limited power of attorney form provides a resident with the opportunity to transfer limited financial powers to another individual (referred to as an attorney-in-fact or agent). The selected representative will be able to act on behalf of the resident for the completion of a singular, agreed upon act. Once the act has been completed, the agreement becomes void.
The individual creating the power of attorney can also revoke it through the creation of a new document or through a power of attorney revocation form.
Signing requirements – The limited power of attorney must be signed before a witness and acknowledged by a notary public (755 ILCS 45/3-3(b)).
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