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What are some issues we should watch out for when a customer brings in a self-prepared power of attorney? – IBA Compliance Connection

IBA Compliance Connection

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What are some issues we should watch out for when a customer brings in a self-prepared power of attorney?

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If a customer brings in a self-prepared power of attorney, some things to watch out for would be:

  • Use of the most up-to-date form. In most cases, the form from the Illinois Power of Attorney Act should be used. The form for property powers can be found in 755 ILCS 45/3-3. 
  • Also check that the customer is using the correct form — the statute also has a form Power of Attorney for healthcare, which would cover healthcare and end-of-life decisions (755 ILCS 45/4-10).
  • The Illinois law requires that the form be signed by at least one witness. As the form notes, other jurisdictions may require more than one witness.
  • The signature of the principal and of any witnesses must also be notarized.
  • The notary cannot sign as a witness.