An Illinois revocation of power of attorney effectively cancels a previously granted power of attorney. To be valid, the revocation must be acknowledged by all involved parties, including the agent and any relevant financial institutions.
The principal should ensure these parties are informed and possess copies of the revocation notice. Unaware parties are not held liable for actions taken under the original power of attorney (POA). As long as the principal is mentally competent, the revocation can be executed at any time during the principal-agent relationship.
Revocation and Termination
The revocation must be in writing and communicated to the agent and any institutions or individuals relying on the POA.
An agent’s authority ends upon the principal’s death, revocation of the power, or if the agent is unable or unwilling to act. If a specific termination date is mentioned in the original POA, the agent’s authority will end on that date. You must specify the exact document for which you are revoking power of attorney, the individual who was granted your POA, and the date on which it was granted.
To revoke the principal should:
- Provide a written notice of revocation to the agent and any third parties acting under the power.
- Retrieve all copies of the document from the agent and any institutions where it was presented.
- If the POA was registered or recorded with any government office (e.g., for real estate transactions), file the revocation notice with the same office.
Fees
- Notary: The revocation must be notarized [1] , and fees range from $5 to $25 per signature (for electronic notarization).
- Recording: If the original document was recorded, the revocation should be, too, for $20 to $50, depending on the county.
Resources
- Illinois Legal Aid Online – Non-profit offering free legal services to low-income individuals and families.
- Illinois State Bar Association –A lawyers’ group dedicated to improving law practice and justice.
Related Forms
