HB6477 – Summary and Questions Amendment To The Power Of Attorney Act 755 ILCS 45/2-1 et. seq

more+
less-

1. Status: Passed by both houses of General Assembly. Bill has not yet arrived at Governor’s Office (as of May 17, 2010). Re-writes the entire act, except for the enactment clause.

2. Effective Date: July 1, 2011. Makes it clear that the changes to the statute made by the 96th General Assembly do not affect the legality of prior instruments.

• Many questions. Should we start using the new forms now? Why not?

• What do we do about existing POAs. Now, don’t have to change them. But, are the changes better for the client?

• Strictly from the marketing perspective, it might be a good idea to contact clients to come in to the office for counseling about updating their POA.

Please see full summary below for more information.

LOADING PDF: If there are any problems, click here to download the file.

Published In: Health Updates, Wills, Trusts, & Estate Planning Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Kaufman Law Group | Attorney Advertising

Don't miss a thing! Build a custom news brief:

Read fresh new writing on compliance, cybersecurity, Dodd-Frank, whistleblowers, social media, hiring & firing, patent reform, the NLRB, Obamacare, the SEC…

…or whatever matters the most to you. Follow authors, firms, and topics on JD Supra.

Create your news brief now - it's free and easy »