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Chicago Power of Attorney Lawyers
We Help You Protect Your Financial and Medical Future
At Wolff Legal, we provide personable and comprehensive estate planning services, including healthcare and financial Power of Attorney to help you prepare for the future in the Chicago metropolitan area. Our team is dedicated to ensuring you designate a person you can fully trust to make decisions on your behalf if you are incapacitated.
A Power of Attorney is a key aspect of estate planning in Illinois. This legally binding document allows you to appoint someone as your agent, who has authority over your assets, including investment and spending, in specific circumstances. Your agent does not have to be an attorney. The most important is that this person is of sound mind and someone you trust.
Our lawyers recommend that you establish a Power of Attorney for your peace of mind and your family’s. In the event you do not have a Power of Attorney, your relatives would have to hire an attorney to petition for guardianship through probate. At Wolff Legal, we carefully discuss your situation to identify your needs and goals and help you draft a suitable Power of Attorney to secure your future.
Wolff Legal can assist you in creating your Power of Attorney in the Chicago metropolitan area. Call us today at (312) 945-7465 or fill out our online form to schedule a consultation. Hablamos español.
Types of Power of Attorney
The decisions your agent can make under a Power of Attorney depend on the type you choose to create. Two types of Power of Attorney exist: for Healthcare and for Property. This type of estate planning document can grant authority to your agent for an indefinite or limited duration. You can give your agent broad powers when creating your Power of Attorney, or you may specify what types of authority they have under which circumstances of mental incapacitation such as accident or old age. Our attorneys can recommend provisions and structure according to your situation.
A Power of Attorney for Healthcare focuses on medical decisions such as treatment and procedures you may require. It also concerns life-sustaining or palliative care in the case of a terminal illness. Your agent will also have the authority to have you admitted or discharged from a hospital or a nursing home. The person you name in the document gains access to your medical records if they need to make decisions. They can also ensure that you receive the burial or cremation of your choosing after your death.
A Power for Attorney for Property allows your agent to handle financial matters such as:
- Business interests and investments
- Retirement benefits
- Any other assets included
Depending on the scope of the authority you grant them, your agent may also buy or sell property on your behalf. When you trust us with your estate planning, our attorneys work closely with you to draft a Power of Attorney that accurately reflects your desires for what your agent can do.
How to Establish a Power of Attorney in Illinois
The first thing to do when considering a Power of Attorney is to carefully consider who you want to establish as your agent. Our lawyers recommend that you talk with them about your plan to ensure that they are willing to do so and have a detailed understanding of your wishes and a willingness to respect them.
Once you are certain of who your agent will be, our team can help you fill out the necessary form. You can execute a Power of Attorney of either type by signing the document in the presence of a witness who also needs to sign it. You must get the form notarized.
Illinois law includes one for a Durable Power of Attorney, which lets you appoint both an agent and a successor agent to facilitate enforcement of your Power of Attorney if your agent is unable to fulfill their obligations.
We recommend that you provide copies of your Power of Attorney to:
- Your agent
- Your successor agent if applicable
- Your doctor for a Power of Attorney for Healthcare
- Your bank or other financial institutions for a Power of Attorney for Property
You can modify or revoke a Power of Attorney whenever you want as long as you have the mental capacity to do so.