- The witnesses and notary must have audio and visual communication throughout the entire ceremony.
- The signatory must attest that they are physically located in Illinois.
- The video interaction must be recorded and the record must be preserved for three years.
- The signatory must transmit the document to the notary the same day (within 24 hours).
- Witnesses may sign original within 30 days of the execution of the document.
Friday, March 27, 2020
In an unprecedented action, Governor Pritzker signed Executive Order 2020-14 changing the way lawyers can offer assistance to those most vulnerable to Coronavirus. The virus is making in person “Execution Ceremonies” (signing the document) counter productive to the CDC’s recommendation of social distancing. The Executive Order states that during the Gubernatorial Disaster Proclamation, remote notarization and witnessing shall be allowed with the following stipulations:
If you have not completed your estate planning documents, most especially your powers of attorney, please contact The Law Office of Jonathan W. Cole at (708) 529-7794 to ensure you are protected.
Wednesday, March 4, 2020
Over the years, I have some clients tell me that their bank didn’t honor their Power of Attorney and they don’t know what to do. The stories are consistent, an adult child was named the primary agent for their elderly Mom, since Dad had recently passed. Mom has become immobile so that the adult child must manage mom’s financial affairs and fulfil their agent role under the provisions of Mom’s Power of Attorney. This scenario is exactly what the Illinois Legislature had in mind when they drafted the Illinois Power of Attorney Act.
The purpose of the act is to recognize that everyone has the right to appoint an agent to make property, financial, and personal decisions throughout the principal’s lifetime, including during periods of disability. It provides a principal with confidence that a third party, like a bank, would honor the agent’s authority at all times. Lawmakers wanted to give principals peace of mind knowing that their affairs would be efficiently handled, despite any present or future infirmity. However, banks, in their desire to limit their own liability, frequently refuse to honor a validly executed power of attorney. This defeats the desires of a principal, who is unable to manage their personal matters. How will the adult child in the above scenario, help their mother pay bills? How will the adult child convince the bank to honor their elderly mother’s power of attorney? This is where an experienced attorney can help.
The Illinois Power of Attorney Act gives the mother and adult child the ability to use an attorney to put some teeth into the banks refusal to act upon a validly executed document. The best method to take a bite out of the bank is by utilizing an attorney to enforce the Illinois Power of Attorney Act, specifically, 755 ILCS45/2-8(d). The statute states:
(d) each person to whom a direction by the named agent in accordance with the terms of the copy of the document purporting to establish an agency is communicated shall comply with that direction, and any person who fails to comply arbitrarily or without reasonable cause shall be subject civil liability for any damages resulting from noncompliance.
The financial institution and even the banker personally may be liable to the agent and principal for any losses or damages resulting from the bank refusal to comply with the directions of a validly executed Power of Attorney. Once a client has contacted our office, we will work quickly to ensure the bank’s compliance with the Illinois Power of Attorney Act and ensure that the adult child in the above scenario can act on their mother’s behalf in the most effective manner available. The Law Office of Jonathan W. Cole has the knowledge and the power to ensure the bank’s compliance, either through a simple communication, or by litigation, if necessary. Give us a call at (708) 529-7794. We can resolve this issue.