There are many different types of POAs, each needing their own notarized form to be officially recognized by the courts. This article will discuss the four types of power of attorney for property most commonly used in Illinois. Limited Power of Attorney Also termed as Special POA in some areas, Limited POAs are the simplest and most fittingly named. Their powers are granted only for a limited time and for specific tasks, such as signing the deed to a property or making sure the title to a … [Read more...]

Advanced estate planning can help ease resentment and prevent family feuds over inheritance while preserving the wishes of the deceased. By ensuring the appropriate documents are in place, intentions are clearly communicated, and all property is included, people can reduce the chances of family discord after they die. The Right Estate Planning Tools for the Job A will serves as a guide for the allocation of assets, but wills alone may not be enough to prevent disputes between heirs when a … [Read more...]

In estate planning, the right end-of-life documents are the key to ensuring an individual's needs and desires are followed after death. A will can help individuals protect against unwanted taxes or probate court concerns, and a trust can help add even more protection. By ensuring the proper documentation is in place early, Illinois residents can safeguard their families and their beneficiaries after death. Lists Help Take Stock of Finances First, individuals working on their estate plans … [Read more...]

The COVID-19 pandemic has caused many to turn their thoughts to the "what ifs" of end-of-life planning, yet estate planning becomes more difficult when legal teams are under stay-at-home orders and keeping their firms closed. For those who are ready to make changes to their estate plan, this time of introspection provides an excellent opportunity to start with the help of an estate planning lawyer. Why Make an Estate Plan? The COVID-19 pandemic has shown that all it takes is an illness to … [Read more...]

Financial powers of attorney allow people to name others to handle finance-related matters on their behalf. Whether out of town, incapacitated due to injury or illness, or because of another circumstance, situations may arise in which people cannot conduct their financial affairs themselves. As a result, they or their families may face hardships waiting for requests for financial authority to go through the court system. Assigning a Personal Financial Agent A type of legal document, … [Read more...]

Estate planning in light of a global pandemic requires specific strategies to execute a proper estate plan while protecting people from the virus. The reality of a global pandemic has caused many to think about what would happen to their loved ones if they were gone. This is an excellent time to start an estate plan or give an existing estate plan another look, and most of the steps can be taken safely even in light of a global pandemic. Extra Time Makes Estate Planning Easier As people are … [Read more...]

When a point comes that a person can no longer make their own healthcare decisions due to illness, mental health concerns, or injury, a Healthcare Power of Attorney, provides legal guidance to the medical professionals and family as to whom should make those decisions and what your wishes are. This document provides important protections to someone's family against having to make difficult decisions or fighting amongst each other. In Illinois, the Healthcare Power of Attorney is a critical part … [Read more...]