Important changes to the POA Act await Quinn's signature

Important changes are on the horizon for the Illinois Power of Attorney Act, a statute that touches the lives of many (most?) clients and their lawyers. The good news -- assuming the governor signs HB 6477, its effective date is July 1, 2011, giving lawyers, banks and others plenty of time to adjust. According to Mary Cascino in the latest ISBA Trusts and Estates newsletter, "Some of the revisions make the statutory forms more user-friendly, such as revising the Notice to the principal, while other revisions, such as the Notice to Agent in the Property Power of Attorney, are intended to visibly inform the agent about his or her duties under the Act." Read her brief, helpful summary.