Recent Amendments to the Illinois Power of Attorney Act: Unreasonable and Reasonable Refusal to Honor Property Powers
On August 9, 2024, Governor Pritzker signed Illinois Public Act 103-0994 into law, which amended the Illinois Power of Attorney Act to provide a statutory framework for when it would be reasonable for a third-party to refuse recognition of a financial Power of Attorney, as well as when it would be unreasonable for a third-party to not honor an otherwise properly executed Power of Attorney for Property. Don’t miss this panel presentation in which our speakers discuss the legislative process, the compromises made to reach the resulting language, how financial Powers of Attorney are reviewed by bank counsel, and how this legislative amendment will affect financial institutions’ practices in reviewing financial Powers of Attorney.
Live Webcast
Tuesday, December 10, 2024
3:00 p.m. – 4:05 p.m.
1.0 hour MCLE credit