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91_SB1567enr SB1567 Enrolled LRB9111460STcs 1 AN ACT to amend the Illinois Power of Attorney Act by 2 adding Section 2-7.5 and by changing Section 3-3. 3 Be it enacted by the People of the State of Illinois, 4 represented in the General Assembly: 5 Section 5. The Illinois Power of Attorney Act is amended 6 by adding Section 2-7.5 and changing Section 3-3 as follows: 7 (755 ILCS 45/2-7.5 new) 8 Sec. 2-7.5. Incapacitated principal. 9 (a) This Section shall apply only to an agent acting for 10 a principal who is incapacitated. A principal shall be 11 considered incapacitated if that individual is under a legal 12 disability as defined in Section 11a-2 of the Probate Act of 13 1975. A principal shall also be considered incapacitated if: 14 (i) a physician licensed to practice medicine in all its 15 branches has examined the principal and has determined that 16 the principal lacks decision making capacity; and (ii) that 17 physician has made a written record of this determination and 18 has signed the written record within 90 days after the 19 examination; and (iii) the written record has been delivered 20 to the agent. The agent may rely conclusively on that written 21 record. 22 (b) An agent shall provide a record of all receipts, 23 disbursements, and significant actions taken under the 24 authority of the agency when requested to do so: (i) by a 25 representative of a provider agency, as defined in Section 2 26 of the Elder Abuse and Neglect Act, acting in the course of 27 an assessment of a complaint of elder abuse or neglect under 28 that Act; or (ii) by a representative of the Office of the 29 State Long Term Care Ombudsman acting in the course of an 30 investigation of a complaint of financial exploitation of a 31 nursing home resident under Section 4.04 of the Illinois Act SB1567 Enrolled -2- LRB9111460STcs 1 on the Aging. 2 (755 ILCS 45/3-3) (from Ch. 110 1/2, par. 803-3) 3 Sec. 3-3. Statutory short form power of attorney for 4 property. The following form may be known as "statutory 5 property power" and may be used to grant an agent powers with 6 respect to property and financial matters. When a power of 7 attorney in substantially the following form is used, 8 including the "notice" paragraph at the beginning in capital 9 letters and the notarized form of acknowledgment at the end, 10 it shall have the meaning and effect prescribed in this Act. 11 The validity of a power of attorney as meeting the 12 requirements of a statutory property power shall not be 13 affected by the fact that one or more of the categories of 14 optional powers listed in the form are struck out or the form 15 includes specific limitations on or additions to the agent's 16 powers, as permitted by the form. Nothing in this Article 17 shall invalidate or bar use by the principal of any other or 18 different form of power of attorney for property. 19 Nonstatutory property powers must be executed by the 20 principal and designate the agent and the agent's powers, but 21 they need not be acknowledged or conform in any other respect 22 to the statutory property power. 23 "ILLINOIS STATUTORY SHORT FORM POWER OF ATTORNEY FOR PROPERTY 24 (NOTICE: THE PURPOSE OF THIS POWER OF ATTORNEY IS TO 25 GIVE THE PERSON YOU DESIGNATE (YOUR "AGENT") BROAD POWERS TO 26 HANDLE YOUR PROPERTY, WHICH MAY INCLUDE POWERS TO PLEDGE, 27 SELL OR OTHERWISE DISPOSE OF ANY REAL OR PERSONAL PROPERTY 28 WITHOUT ADVANCE NOTICE TO YOU OR APPROVAL BY YOU. THIS FORM 29 DOES NOT IMPOSE A DUTY ON YOUR AGENT TO EXERCISE GRANTED 30 POWERS; BUT WHEN POWERS ARE EXERCISED, YOUR AGENT WILL HAVE 31 TO USE DUE CARE TO ACT FOR YOUR BENEFIT AND IN ACCORDANCE 32 WITH THIS FORM AND KEEP A RECORD OF RECEIPTS, DISBURSEMENTS 33 AND SIGNIFICANT ACTIONS TAKEN AS AGENT. A COURT CAN TAKE SB1567 Enrolled -3- LRB9111460STcs 1 AWAY THE POWERS OF YOUR AGENT IF IT FINDS THE AGENT IS NOT 2 ACTING PROPERLY. YOU MAY NAME SUCCESSOR AGENTS UNDER THIS 3 FORM BUT NOT CO-AGENTS. UNLESS YOU EXPRESSLY LIMIT THE 4 DURATION OF THIS POWER IN THE MANNER PROVIDED BELOW, UNTIL 5 YOU REVOKE THIS POWER OR A COURT ACTING ON YOUR BEHALF 6 TERMINATES IT, YOUR AGENT MAY EXERCISE THE POWERS GIVEN HERE 7 THROUGHOUT YOUR LIFETIME, EVEN AFTER YOU BECOME DISABLED. 8 THE POWERS YOU GIVE YOUR AGENT ARE EXPLAINED MORE FULLY IN 9 SECTION 3-4 OF THE ILLINOIS "STATUTORY SHORT FORM POWER OF 10 ATTORNEY FOR PROPERTY LAW" OF WHICH THIS FORM IS A PART (SEE 11 THE BACK OF THIS FORM). THAT LAW EXPRESSLY PERMITS THE USE 12 OF ANY DIFFERENT FORM OF POWER OF ATTORNEY YOU MAY DESIRE. 13 IF THERE IS ANYTHING ABOUT THIS FORM THAT YOU DO NOT 14 UNDERSTAND, YOU SHOULD ASK A LAWYER TO EXPLAIN IT TO YOU.) 15 POWER OF ATTORNEY made this .... day of ....... (month) 16 ...... (year) 17 1. I, ..............., (insert name and address of 18 principal) hereby appoint: 19 ............................................................. 20 (insert name and address of agent) 21 as my attorney-in-fact (my "agent") to act for me and in my 22 name (in any way I could act in person) with respect to the 23 following powers, as defined in Section 3-4 of the "Statutory 24 Short Form Power of Attorney for Property Law" (including all 25 amendments), but subject to any limitations on or additions 26 to the specified powers inserted in paragraph 2 or 3 below: 27 (YOU MUST STRIKE OUT ANY ONE OR MORE OF THE FOLLOWING 28 CATEGORIES OF POWERS YOU DO NOT WANT YOUR AGENT TO HAVE. 29 FAILURE TO STRIKE THE TITLE OF ANY CATEGORY WILL CAUSE THE 30 POWERS DESCRIBED IN THAT CATEGORY TO BE GRANTED TO THE AGENT. 31 TO STRIKE OUT A CATEGORY YOU MUST DRAW A LINE THROUGH THE 32 TITLE OF THAT CATEGORY.) 33 (a) Real estate transactions. 34 (b) Financial institution transactions. SB1567 Enrolled -4- LRB9111460STcs 1 (c) Stock and bond transactions. 2 (d) Tangible personal property transactions. 3 (e) Safe deposit box transactions. 4 (f) Insurance and annuity transactions. 5 (g) Retirement plan transactions. 6 (h) Social Security, employment and military service 7 benefits. 8 (i) Tax matters. 9 (j) Claims and litigation. 10 (k) Commodity and option transactions. 11 (l) Business operations. 12 (m) Borrowing transactions. 13 (n) Estate transactions. 14 (o) All other property powers and transactions. 15 (LIMITATIONS ON AND ADDITIONS TO THE AGENT'S POWERS MAY BE 16 INCLUDED IN THIS POWER OF ATTORNEY IF THEY ARE SPECIFICALLY 17 DESCRIBED BELOW.) 18 2. The powers granted above shall not include the 19 following powers or shall be modified or limited in the 20 following particulars (here you may include any specific 21 limitations you deem appropriate, such as a prohibition or 22 conditions on the sale of particular stock or real estate or 23 special rules on borrowing by the agent): 24 ............................................................. 25 ............................................................. 26 ............................................................. 27 ............................................................. 28 ............................................................. 29 3. In addition to the powers granted above, I grant my 30 agent the following powers (here you may add any other 31 delegable powers including, without limitation, power to make 32 gifts, exercise powers of appointment, name or change 33 beneficiaries or joint tenants or revoke or amend any trust 34 specifically referred to below): SB1567 Enrolled -5- LRB9111460STcs 1 ............................................................. 2 ............................................................. 3 ............................................................. 4 ............................................................. 5 ............................................................. 6 (YOUR AGENT WILL HAVE AUTHORITY TO EMPLOY OTHER PERSONS AS 7 NECESSARY TO ENABLE THE AGENT TO PROPERLY EXERCISE THE POWERS 8 GRANTED IN THIS FORM, BUT YOUR AGENT WILL HAVE TO MAKE ALL 9 DISCRETIONARY DECISIONS. IF YOU WANT TO GIVE YOUR AGENT THE 10 RIGHT TO DELEGATE DISCRETIONARY DECISION-MAKING POWERS TO 11 OTHERS, YOU SHOULD KEEP THE NEXT SENTENCE, OTHERWISE IT 12 SHOULD BE STRUCK OUT.) 13 4. My agent shall have the right by written instrument 14 to delegate any or all of the foregoing powers involving 15 discretionary decision-making to any person or persons whom 16 my agent may select, but such delegation may be amended or 17 revoked by any agent (including any successor) named by me 18 who is acting under this power of attorney at the time of 19 reference. 20 (YOUR AGENT WILL BE ENTITLED TO REIMBURSEMENT FOR ALL 21 REASONABLE EXPENSES INCURRED IN ACTING UNDER THIS POWER OF 22 ATTORNEY. STRIKE OUT THE NEXT SENTENCE IF YOU DO NOT WANT 23 YOUR AGENT TO ALSO BE ENTITLED TO REASONABLE COMPENSATION FOR 24 SERVICES AS AGENT.) 25 5. My agent shall be entitled to reasonable compensation 26 for services rendered as agent under this power of attorney. 27 (THIS POWER OF ATTORNEY MAY BE AMENDED OR REVOKED BY YOU AT 28 ANY TIME AND IN ANY MANNER. ABSENT AMENDMENT OR REVOCATION, 29 THE AUTHORITY GRANTED IN THIS POWER OF ATTORNEY WILL BECOME 30 EFFECTIVE AT THE TIME THIS POWER IS SIGNED AND WILL CONTINUE 31 UNTIL YOUR DEATH UNLESS A LIMITATION ON THE BEGINNING DATE OR 32 DURATION IS MADE BY INITIALING AND COMPLETING EITHER (OR 33 BOTH) OF THE FOLLOWING:) 34 6. ( ) This power of attorney shall become effective on SB1567 Enrolled -6- LRB9111460STcs 1 ............................................................. 2 (insert a future date or event during your lifetime, such as 3 court determination of your disability, when you want this 4 power to first take effect) 5 7. ( ) This power of attorney shall terminate on 6 ............................................................. 7 (insert a future date or event, such as court determination 8 of your disability, when you want this power to terminate 9 prior to your death) 10 (IF YOU WISH TO NAME SUCCESSOR AGENTS, INSERT THE NAME(S) AND 11 ADDRESS(ES) OF SUCH SUCCESSOR(S) IN THE FOLLOWING PARAGRAPH.) 12 8. If any agent named by me shall die, become 13 incompetent, resign or refuse to accept the office of agent, 14 I name the following (each to act alone and successively, in 15 the order named) as successor(s) to such agent: 16 ............................................................. 17 ............................................................. 18 For purposes of this paragraph 8, a person shall be 19 considered to be incompetent if and while the person is a 20 minor or an adjudicated incompetent or disabled person or the 21 person is unable to give prompt and intelligent consideration 22 to business matters, as certified by a licensed physician. 23 (IF YOU WISH TO NAME YOUR AGENT AS GUARDIAN OF YOUR ESTATE, 24 IN THE EVENT A COURT DECIDES THAT ONE SHOULD BE APPOINTED, 25 YOU MAY, BUT ARE NOT REQUIRED TO, DO SO BY RETAINING THE 26 FOLLOWING PARAGRAPH. THE COURT WILL APPOINT YOUR AGENT IF 27 THE COURT FINDS THAT SUCH APPOINTMENT WILL SERVE YOUR BEST 28 INTERESTS AND WELFARE. STRIKE OUT PARAGRAPH 9 IF YOU DO NOT 29 WANT YOUR AGENT TO ACT AS GUARDIAN.) 30 9. If a guardian of my estate (my property) is to be 31 appointed, I nominate the agent acting under this power of 32 attorney as such guardian, to serve without bond or security. 33 10. I am fully informed as to all the contents of this 34 form and understand the full import of this grant of powers SB1567 Enrolled -7- LRB9111460STcs 1 to my agent. 2 Signed .................................................. 3 (principal) 4 (YOU MAY, BUT ARE NOT REQUIRED TO, REQUEST YOUR AGENT AND 5 SUCCESSOR AGENTS TO PROVIDE SPECIMEN SIGNATURES BELOW. IF 6 YOU INCLUDE SPECIMEN SIGNATURES IN THIS POWER OF ATTORNEY, 7 YOU MUST COMPLETE THE CERTIFICATION OPPOSITE THE SIGNATURES 8 OF THE AGENTS.) 9 Specimen signatures of I certify that the signatures 10 agent (and successors) of my agent (and successors) 11 are correct. 12 .......................... ............................. 13 (agent) (principal) 14 .......................... ............................. 15 (successor agent) (principal) 16 .......................... ............................. 17 (successor agent) (principal) 18 (THIS POWER OF ATTORNEY WILL NOT BE EFFECTIVE UNLESS IT IS 19 NOTARIZED AND SIGNED BY AT LEAST ONE ADDITIONAL WITNESS, 20 USING THE FORM BELOW.) 21 State of ............) 22 ) SS. 23 County of ...........) 24 The undersigned, a notary public in and for the above 25 county and state, certifies that ......................., 26 known to me to be the same person whose name is subscribed as 27 principal to the foregoing power of attorney, appeared before 28 me and the additional witness in person and acknowledged 29 signing and delivering the instrument as the free and 30 voluntary act of the principal, for the uses and purposes 31 therein set forth (, and certified to the correctness of the 32 signature(s) of the agent(s)). 33 Dated: ................ (SEAL) 34 .............................. SB1567 Enrolled -8- LRB9111460STcs 1 Notary Public 2 My commission expires ................. 3 The undersigned witness certifies that ................, 4 known to me to be the same person whose name is subscribed as 5 principal to the foregoing power of attorney, appeared before 6 me and the notary public and acknowledged signing and 7 delivering the instrument as the free and voluntary act of 8 the principal, for the uses and purposes therein set forth. 9 I believe him or her to be of sound mind and memory. 10 Dated: ................ (SEAL) 11 .............................. 12 Witness 13 (THE NAME AND ADDRESS OF THE PERSON PREPARING THIS FORM 14 SHOULD BE INSERTED IF THE AGENT WILL HAVE POWER TO CONVEY ANY 15 INTEREST IN REAL ESTATE.) 16 This document was prepared by: 17 ............................................................. 18 ............................................................" 19 The requirement of the signature of an additional witness 20 imposed by this amendatory Act of the 91st General Assembly 21 applies only to instruments executed on or after the 22 effective date of this amendatory Act of the 91st General 23 Assembly. 24 (Source: P.A. 86-736.) 25 Section 99. Effective date. This Act takes effect upon 26 becoming law.