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DuPage County Lawyers For Establishing Power of Attorney

POA for Finance and Health Attorneys Serving Wheaton, Naperville and Glen Ellyn, IL

West Chicago Power of Attorney Lawyer

When you become physically and/or mentally incapacitated and unable to make personal financial and health care decisions for yourself, you will need a person you trust to make these decisions for you. In Illinois, you can legally appoint a Power of Attorney, which refers to a person (the agent) who has the legal capacity to make health and financial decisions on your behalf.

At Anderson and Associates, P.C., we understand the importance of establishing power of attorney, so a person you trust can make necessary decisions on your behalf. Our estate planning attorneys have over 30 years of experience helping clients appoint individuals (agents) to make significant decisions for them when they are unable to do so.

How Do I Select a Power of Attorney?

In order to select a Power of Attorney, you will need to complete a Power of Attorney form and sign it in front of a witness. The witness must be at least the age of 18 and cannot be the agent or successor agent that will make decisions on your behalf. The witness also cannot be related to the principal, agent, or successor agent(s) by marriage, adoption, or blood.

If your agent cannot or is unwilling to fulfill his or her role, you can choose successor agents when completing the Power of Attorney form. These agents will fulfill the role when the first agent does not fulfill his or her responsibilities.

Power of Attorney: Health Decisions

It is nearly impossible to predict when a serious accident or illness can leave you incapacitated. By appointing someone now to make health care decisions for you in the future, you will be prepared to receive the medical treatment you specify. Your health care agent (the person you appoint to make health care decisions for you) can be a friend, family member, or some other person you can rely on. You may wish to choose an agent who meets the following criteria:

  • The individual knows you well.
  • The individual is at least 18 years of age (this is a legal requirement).
  • The individual is someone you can trust to do what is in your best interest.
  • The individual is someone you can rely on to execute your wishes.
  • The individual is someone who would be comfortable communicating with your doctors.
  • The individual is someone who would not be in extreme distress when they must carry out your wishes in the event you become significantly ill.
  • The individual is someone who will be there for you when you need him or her.

Power of Attorney: Financial Decisions

In the event that you are incapacitated and cannot make your own financial decisions, your financial agent can make the decisions for you. When choosing an individual to act as your agent, appoint someone who tells you that he or she is willing to act as your agent when needed. Designating an agent on the Power of Attorney form does not automatically make the appointed individual your agent. The individual must agree to act as your agent.

A financial agent generally has the following powers (if there are certain powers that you do not want your Power of Attorney to have, you can cross them off on the Power of Attorney form):

  • The power to make real estate transactions.
  • The power to make financial institution transactions.
  • The power to make safe deposit box transactions.
  • The power to make retirement plan transactions.
  • The power to make insurance transactions.
  • The power to make personal property transactions.
  • The power to make stock bond transactions.

Experienced Estate Planning Lawyer in Glendale Heights IL

There are many factors that need to be considered when appointing a Power of Attorney. At Anderson & Associates, P.C, we make the process of designating a Power of Attorney easier and will help you complete all the required documents for assigning individuals to make important decisions for you if the need arises. To schedule a consultation, call us at 630-653-9400 or contact us online. We serve clients in Winfield, Warrenville, West Chicago, and throughout DuPage County, Illinois.

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