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Schaumburg Power of Attorney Lawyer

Des Plaines estate planning lawyer for power of attorney

Attorney Assisting With POA for Healthcare and Finances in Schaumburg

Some of the most important decisions you may make during the estate planning process involve what you want to happen after your death. However, it can be just as important to think about issues that may affect you during the rest of your lifetime. For example, you may be worried about how your medical or financial issues will be addressed if you become ill or are otherwise incapacitated in a way that you can no longer express your wishes or make your own decisions. Powers of attorney can help you alleviate these concerns, and they will make sure that your wishes will be carried out correctly even in situations where you cannot speak for yourself.

The attorneys of A. Traub & Associates have extensive experience working with clients to make decisions about what they would like to happen in the future, including in situations where they become seriously ill or will need help addressing medical or financial issues. We will help you establish powers of attorney that will make sure your loved ones will be able to make decisions on your behalf while following the specific instructions you provide.

Types of Powers of Attorney Under Illinois Law

When you create a power of attorney, you will state that a trusted individual (your "agent") will have the authority to make certain types of decisions for you. A power of attorney agreement can take effect in specific circumstances, including in situations where you are incapacitated. Depending on your wishes and your needs, you may give your agent the ability to make any decisions they believe are necessary, or you can limit their authority to certain areas and provide specific instructions regarding how different issues should be handled.

Powers of attorney are grouped into two categories:

  • Medical powers of attorney - These agreements, which are also known as powers of attorney for healthcare, will give your agent the authority to address issues related to your medical treatment, as well as decisions that affect your health and personal care. With a medical power of attorney, your agent will usually be allowed to view medical records and discuss your treatment with medical providers. They may also decide whether you may be admitted to a hospital, nursing home, or other medical facility, and they can make decisions about the types of treatment you will or will not receive. By leaving specific instructions regarding the types of care that you want to be performed, you can ensure that your wishes will be followed, and you can help your loved ones avoid any uncertainty about what you would have wanted.
  • Financial powers of attorney - These agreements, which are also known as powers of attorney for property, will give your agent the ability to manage your income, assets, and financial affairs. Depending on the extent of your assets and the access you provide to your agent, they may have the ability to make purchases, sell assets, transfer funds into or out of bank accounts, apply for benefits, manage insurance policies and retirement plans, address tax-related issues, manage a business, or pay child support or spousal support. As with medical powers of attorney, you may want to leave detailed instructions about how certain financial issues will be handled, which will ensure that your assets will be used properly to meet your needs or provide for your loved ones.

Contact a Schaumburg Power of Attorney Lawyer

To help you and your family achieve peace of mind about your future, the attorneys of A. Traub & Associates can assist you in creating medical and financial powers of attorney. We will help you understand these agreements inside and out, so there will be no surprises later on. With our guidance, you can make sure an agreement will meet your specific needs. We will do everything we can to ensure that decisions about your medical care and finances will be placed in the hands of someone you trust and that your wishes will be followed correctly. To explore your options with one of our lawyers, please contact us at 630-426-0196 to set up a consultation.

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