Get Help From a Chicago Power of Attorney Lawyer 

In simple terms, a Power of Attorney (POA) is a formal legal document wherein you, as the principal, give another person or entity (known as the agent) the power to make decisions on your behalf. POAs are typically prepared in anticipation of a future situation or event. It is essential that when you prepare a POA that it complies with Illinois laws so that when the time comes, the POA can serve its intended purpose. 

Types of POAs

There are four different types of POAs for property available in Illinois. Our Chicago Power of Attorney Lawyer explains:

General
A General POA is the most common type of POA. The principal gives the agent the right to carry out daily functions such as paying bills and filing taxes.The power given by the POA, however, ends when the principal becomes inapacitated or dies. 

Limited
Limited POA only grants the agent the authority to make decisions for the principal in certain situations and for a specified amount of time. Their scope is more limited than a General POA.

Durable
A Durable POA remains in effect even after the principal becomes incapacitated. A Durable POA will end if the principal dies, or if they are no longer considered to be incapacitated. There are Durable POAs for property and finances and well as for Healthcare. 

Springing
A Springing POA is like a Durable POA except that it only comes into effect when the principal becomes incapacitated. Until this happens, the Springing POA does not grant any power to the agent.

POA Agent Considerations 

When deciding who to appoint as your POA, there are certain matters you need to consider. First, the agent must be 18 years of age or older. They also need to be someone that you trust to make the best decisions on your behalf. While you are free to choose a family member, it is not necessary that your POA be a part of your family. It is also a good idea to speak with the person you are considering to be your agent to ensure it is a responsibility they are willing to take on. 

Resignation of Agent

The agent, or person appointed by the principal to act on their behalf, sometimes decides that they no longer wish to serve as the agent. They are able to resign for any reason by creating a notarized letter of resignation. An attorney at our firm can help with this process. 

Let A Chicago Power of Attorney Lawyer at the Law Office of Alexis Hart McDowell Assist You

A POA is a multi-faceted document which must comply with governing laws in order to be valid. At the Law Office of Alexis Hart McDowell, we prepare POAs for our Illinois clients so that they are prepared for whatever life throws their way. You can purchase a Power of Attorney by clicking here POA service. Book a consultation to discuss your needs with a Chicago Power of Attorney lawyer at Enterprise Esquire. 

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