Illinois Power of Attorney Lawyers
Creating Powers of Attorney for Healthcare and Finances in the Chicago Area
A comprehensive estate plan can not only address how you want matters to be handled after your death, but it can also include decisions about your finances and your needs during your lifetime. One issue that you may want to address is what will happen if you ever become ill, incapacitated, or disabled in a way that affects your ability to make decisions for yourself. By creating powers of attorney, you can ensure that your wishes will be followed in these situations.
The Gierach Law Firm, LLC has been working with individuals and families for more than 30 years to meet their estate planning needs. We can explain your options for creating powers of attorney, and we will make sure these documents are executed properly, providing you with the peace of mind that your wishes will be followed correctly, no matter what happens to you.
Powers of Attorney in Illinois
A power of attorney is a legal agreement in which a person names someone who will have the authority to make decisions on their behalf. A power of attorney may go into effect immediately after it is created, or it may take effect if the person who created the agreement (known as the “principal”) becomes incapacitated. In some cases, the person who is authorized to make decisions on behalf of the principal (known as the “agent”) may be given broad authority to do what they believe is in the principal’s best interests. In other situations, the agent may only be allowed to make certain decisions or address certain matters, and the principal may provide specific instructions to ensure their wishes are carried out correctly.
There are two types of powers of attorney that can be created in Illinois:
- Power of attorney for healthcare – This will give an agent the authority to make decisions about the principal’s medical care and personal needs. In addition to addressing issues such as what medical treatments or medications the principal will or will not receive, the agent may also be able to decide when the principal may be admitted to a hospital or nursing home or whether steps should be taken to prolong their life if they are suffering from a terminal illness.
- Power of attorney for property or finances – This will allow an agent to make financial decisions for the principal and manage their property and assets. An agent may be authorized to buy or sell property, manage a business or investments, pay bills and address other financial obligations, handle matters related to insurance or other benefits, and address other financial concerns as specified by the principal.
By creating powers of attorney, you can ensure that someone you trust will make decisions for you and provide for your needs if you are unable to do so. In addition to these types of agreements, you may want to create other advance directives, such as a living will or a do not resuscitate (DNR) order. In some cases, you may also want to consider establishing guardianship to make sure a person will be able to provide assistance and help manage your affairs if you are unable to fully meet your own needs.
Contact Our Naperville Estate Planning Attorneys
At The Gierach Law Firm, LLC, we will help you understand all of the tools and options available to you when creating an estate plan. We will help you determine when a power of attorney for finances or healthcare will be beneficial for you, and we will make sure to address your concerns and protect your rights when creating these types of agreements. To learn more about how we can meet your estate planning needs, contact us in Naperville by calling 630-756-1160 or in Hoffman Estates office by calling 847-519-0505.