Why You Need Powers of Attorney

naperville estate planning lawyerIf you are not sure whether you need powers of attorney, you probably do. Powers of attorney are a way that you can take control of your medical care in the event that you cannot make decisions for yourself. The pandemic has served as a reminder to many that life is unpredictable and we never know what is going to happen. Unexpected accidents or illnesses can take families by surprise. Powers of attorney allow you to plan for this possibility. Using these legal tools, you can appoint someone you trust to make medical decisions for you, and someone you trust to manage your finances in case something happens and you are not able to do so anymore. Powers of attorney are quite customizable, so you will have a lot of discretion in creating these. 

Who Should Have Powers of Attorney?

Just about everyone needs powers of attorney. Anyone could become temporarily or even permanently incapacitated without much warning. If you become incapicated by injury or illness and you have not set up powers of attorney, you cannot be sure who will be making medical decisions for you. There can also be major family arguments or even legal battles between your family and your medical providers or financial institutions. 

How Do Powers of Attorney Help?

By using a medical power of attorney, one person you have chosen will control your medical decision-making. It is a good idea to talk to this person before you appoint them to make sure they understand and are willing to follow your wishes regarding what types of medical care you would like to receive if you were incapacitated. You may also want to appoint a backup in case the designated person cannot fulfill this important responsibility. It may be easier to keep the peace during a trying time if you have named a single individual who understands your wishes to take charge of medical and/or financial decisions. 

When you make a medical power of attorney, it may also be a good idea to make a financial power of attorney. If you are sick or injured and unable to act on your own behalf, you will probably need someone to manage your finances. This could be as complex as letting someone manage your investment portfolio or as simple as letting a family member access your bank account to pay your bills for you. Powers of attorney can be limited so that they do not take effect until you become incapacitated. 

Contact an Illinois Incapacity Planning Attorney

If you are interested in creating or updating your powers of attorney, the Gierach Law Firm can help you understand all your options. Our Naperville incapacity planning lawyers are experienced at creating customized powers of attorney to suit individuals’ needs. Call us at 630-756-1160 to schedule a consultation. 

Source: 

https://www.ilga.gov/legislation/ilcs/ilcs5.asp?ActID=2113&ChapterID=60

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