Glenview Power of Attorney Estate Lawyer

Lake County Estate Plan Lawyer for Incapacity Planning

A complete estate plan is made up of two parts. First, there is the side you are probably familiar with - testamentary planning. Testamentary planning is the side that deals with what will happen to your estate property when you have passed on. The equally important - yet often overlooked - other side of the estate planning coin is called "incapacity planning." Your testamentary plan will speak for you when you are deceased and can no longer speak for yourself. Your incapacity plan will speak for you when you are still alive but have become incapacitated and can no longer make important decisions or manage your own finances.

The Livingston Law Office knows the importance of having someone you trust to manage your health care and property should you reach a point where you can no longer do these things on your own. While it may be uncomfortable to think about, the fact is that most older adults will eventually experience an age-related incapacity. With strong powers of attorney in place, you can avoid the need for guardianship and select the person or people who would become your decision-makers.

Lawyer for Health Care Powers of Attorney in Northbrook

When a person becomes confused or disoriented, as is common for elders, they can no longer make informed and meaningful decisions about what kind of medical care to accept or where they should reside. Someone else must step in and begin making these important choices on the incapacitated adult's behalf. When there is no power of attorney in place, someone will have to be appointed. This is generally an immediate family member, but there is no guarantee that it will be the person you would have wanted.

When you create a power of attorney for health care, you are taking control of the situation. You can choose anyone you would like, and you can take the opportunity to speak with them and make sure they understand and are willing to carry out your wishes. Of course, you can also use your power of attorney to specify or limit what your chosen agent can, cannot, or must consent to on your behalf. There are also a few built-in safeguards.

Your health care power of attorney does not take effect until your medical care team determines that you are incapacitated, so you do not need to worry about your agent taking control until it becomes truly necessary.

Wilmette Financial Powers of Attorney Law Firm

If you become incapacitated, you will also need someone to manage your money and property. A person you trust will need to do things like making sure your bills are getting paid on time and managing your social security or Medicare benefits, investments, or any real estate properties you may own.

As with a health care power of attorney, you can be quite specific about what powers you do or do not want your agent to have. A financial power of attorney does not convey any powers until you have been formally deemed incapacitated or until another time of your choosing. You can also create short-term financial powers of attorney, such as if you are traveling and need an agent to handle a real-estate closing for you.

It is best to appoint someone you trust who is good with money management. Your agent will be required to manage your finances in a way that serves your best interests.

Call a Wheeling Estate Planning Lawyer for Powers of Attorney

The Livingston Law Office is skilled at helping people create the powers of attorney that meet their specific personal needs. We will talk over all your options with you to make sure your powers of attorney are set up exactly as you want them. Contact us online or call 847-544-6657 for a free consultation.