How Does Power of Attorney Work in Illinois?

 Posted on March 14, 2024 in Estate Planning / Probate

A common fact of life is that you can never know what the future holds. That is why people might sign a prenuptial agreement even if they are sure they and their future spouse will live happily ever after, get insurance policies to cover the costs of things they hope they will never actually need, and prepare wills even if they are not dying.

While planning for possible hardships like these forces you to consider things you would probably rather push out of your mind, it can pay off in the future if they ever become relevant. When you are dealing with the distress of any of these scenarios, you will likely be grateful that you had thought to make these plans back before they were necessary because they can take some of the stress away in the moment of crisis.

This is the same reason why people will formally establish power of attorney. It is not nice to think about a future where you are incapable of expressing your wishes and making your own decisions, but making a plan just in case you are incapacitated is integral to an estate planning process. If you have been considering giving someone power of attorney, an experienced DuPage County, IL estate planning lawyer can help you understand what you should take into account in making this important decision.

What Happens When You Give Someone Power of Attorney?

The person you grant power of attorney to becomes known as the power of attorney agent or the attorney-in-fact. When you decide to give someone power of attorney, they are then granted the authority to make decisions on your behalf if you are not able to make them yourself.

People tend to appoint a trusted close relative or close friend to act as their agent. It is best to choose someone willing and able to fulfill these serious responsibilities when necessary. It might also be preferable if this person lives nearby so they can quickly show up if needed, although this is not a requirement.

There are various areas of decision-making in which power of attorney might be granted, but the two main spheres are:

• Healthcare: A medical power of attorney agent can make medical decisions about whether you will receive certain treatment or medication or undergo operations or other procedures if these decisions need to be made and you are incapacitated.
• Finances: If you are unable to make and express your decisions, someone you appoint on your behalf can decide what will be done with your finances.

Schedule a Free Consultation with a Kane County, IL Estate Planning Attorney

If you are considering power of attorney, let an experienced Geneva, IL estate planning lawyer guide you. DLAW, PC boasts over 25 years of experience and has the added benefit of offering a personal touch. Call 331-222-7978 to schedule a free consultation.