In Illinois, a “Durable” Power of Attorney is one that survives your mental incompetency. This differs from a non-durable Power of Attorney, which becomes ineffective if you become mentally incompetent. While there might be a few instances when an individual would want a non-durable Power of Attorney, it is generally a much better option to have a Durable Power of Attorney in Illinois.
Also, Durable Powers of Attorney, because they remain in effect even if you become incompetent, can oftentimes enable your estate to avoid a formal guardianship court process if you lose your mental capacity. Thus, Durable Powers of Attorney are frequently used in the estate planning process in Illinois. However, because Durable Powers of Attorney survive your mental incompetency, it is critical that you take time to consider who to name as your Agent to ensure that you choose the right individual.
In addition, it is important for a Power of Attorney form to be honored by banks, hospitals, etc., if you become mentally incompetent. Sometimes attorneys use non-standard Durable Power of Attorney forms that are subsequently rejected at critical times by financial and medical institutions. Because of this, it is recommended to use the “statutory short form” Powers of Attorney in Illinois.
The Law Office of Kevin Williams, 2295 Bannister Lane, Aurora, IL 60504, (630) 898-4789