Taxation & Estate Planning

Illinois HB6477: Changes to Illinois Powers of Attorney

By Joel A. Schoenmeyer

HB6477, which would amend the Illinois Power of Attorney Act, has now passed both houses of the Illinois legislature. If I remember anything from civics, it now goes to the governor for signing into law. Here is the full text (it has an effective date of 7/1/11).

To hit a few of the high points of the bill -- it:

1. defines "incapacitated" as well as "incurable or irreversible condition," "permanent unconsciousness" and "terminal condition";

2. details how agents under powers of attorney have to keep records;

3. establishes a procedure for the agent to certify that he or she has accepted the position of agent;

4. expands on the mechanism for court review of a power of attorney;

5. discusses successor agents and co-agents in more depth. (Note that HB6477 is consistent with current law in not allowing co-agents under the statutory forms for powers of attorney for health care and property);

6. addresses the validity of powers of attorney executed in another state; and

7. adds provisions allowing for an agent under a health care power of attorney to dispose of remains

Full post as published by Death and Taxes Blog on May 04, 2010 (boomark / email).