Schaumburg Powers of Attorney Lawyer

Trusted Lawyers Helping Clients in Schaumburg Navigate Powers of Attorney With Their Estate Plan

Planning for the future requires preparing for unexpected events that may render us unable to make decisions for ourselves. One legal tool that aids in these preparations is power of attorney (POA). In Illinois, a POA allows a person to designate another person to make decisions on their behalf. This ensures that your personal, medical, and financial affairs will be managed according to your preferences if you are ever incapacitated. If you want to include a power of attorney in your estate plan, the lawyer at Anderson Attorneys, P.C., who has over 40 years of legal experience, is ready to help.

Understanding the Purpose of Powers of Attorney

The primary purpose of a POA is to grant someone you trust—known as your agent—the authority to act on your behalf in various situations, especially when you are unable to do so yourself. This could be due to illness, an accident, or simply being unavailable. By establishing a POA, you are ensuring that your wishes are respected and that decisions are made in your best interest. It is a proactive way to maintain control over your life's affairs, even in uncertain circumstances.

Medical Power of Attorney Can Safeguard Your Health Decisions

A medical power of attorney, sometimes referred to as a healthcare power of attorney, specifically grants an agent the authority to make healthcare decisions if you are incapacitated. This includes decisions about medical treatments, surgical procedures, and end-of-life care. In Illinois, the agent is expected to make these decisions based on your wishes or, if unknown, in your best interest. This type of POA provides comfort, ensuring that your health decisions will be guided by someone who understands and respects your preferences.

When drafting a medical POA, it is important to be as specific as possible about your healthcare preferences. Detailed instructions can include your stance on life-sustaining treatments, pain management, and organ donation. This will help your agent make informed decisions that align closely with your values and beliefs.

Power of Attorney for Property Can Address Your Financial Affairs

A financial power of attorney authorizes your agent to handle various financial matters. This may include paying bills, managing bank accounts, filing taxes, and overseeing investments. In Illinois, this type of POA is especially useful for ensuring that your financial affairs will be handled without disruption, even if you are temporarily or permanently unable to manage them yourself.

It is important to select the right person as your financial agent. They should be someone you trust and who is capable of managing financial affairs responsibly. It is often recommended that you have a conversation about your financial goals and expectations beforehand to ensure that you and your agent are on the same page.

Durable Power of Attorney Ensures Continual Protection

A durable power of attorney (DPOA) is unique, because it remains in effect even if the person who created the POA—known as the principal—becomes mentally incapacitated. Both medical and financial POAs can be made durable, ensuring that the agent's authority will persist despite the principal's incapacity. This continuity is vital in situations where ongoing decision-making is needed, such as managing long-term medical treatments or financial investments.

To make a POA durable, specific language must be included in the document indicating that the agent's power will continue despite the principal's incapacitation. This ensures that your affairs will be consistently managed without the need for court intervention.

Notarization and Witnesses

In Illinois, POA documents may need to be signed in the presence of a witness or notarized by a notary public. Notarization is typically required for a financial POA. For a medical POA, the signing of the document must be witnessed. Remember to periodically update your POAs, especially after major life changes like marriage, divorce, or relocation.

Contact Our Schaumburg, IL Powers of Attorney Lawyer

Whether you are looking to address your healthcare or financial decisions, the trusted attorney at Anderson Attorneys, P.C. is ready to assist you in creating powers of attorney that will meet your needs. Contact us at 847-850-8899 to schedule a free consultation and take the first step toward securing your future.