Tag: power of attorney
How Do Powers of Attorney Complement an Estate Plan?
Posted on October 21, 2024
Often when individuals consider estate plans, they think about planning for a person’s death. While the purpose of an estate plan is, to a large extent, to make a plan for disposing of assets following death, powers of attorney are an important element of an estate plan for the living. An experienced Illinois estate planning attorney can advise on how the power of attorney can work alongside the rest of your estate plan. What is a Durable Power of Attorney? A durable power of attorney is an estate planning document […]
How Can Power of Attorney Be Used During Large Transactions?
Posted on May 17, 2024
Granting someone power of attorney (POA) can be an effective strategy to ensure that your financial affairs will be handled correctly during significant transactions. A seasoned attorney can help tailor a POA that will meet your specific needs while safeguarding your financial interests and ensuring that your wishes will be followed. Large transactions involving real estate purchases and sales, business dealings, or the management of substantial financial investments can be very complicated. If you are looking to protect your rights and interests in these transactions, the delegation of authority to […]
Why it Is Important to Update Your Estate Plan Regularly
Posted on March 26, 2024
Whether you own complex assets or simply need to make sure your affairs are in order, an estate plan is crucial for your peace of mind. It is important to take steps to ensure that your assets will be distributed according to your wishes, and your estate plan can also make sure your property and finances will be managed correctly. However, creating an estate plan is not a one-time task—it requires regular updates to remain effective, especially for those with a high net worth. An experienced attorney can provide invaluable […]
How a Power of Attorney Can Protect Your Financial Privacy
Posted on January 29, 2024
Financial privacy is something that many people and families value. Everyone wants to protect their personal information, especially when it comes to their finances, but this can be especially important for people with a high net worth, including business owners, entrepreneurs, wealthy families, and people who are involved in legal disputes. One legal tool that can help safeguard your financial privacy is a power of attorney. A power of attorney will give another person the authority to handle certain issues and make certain decisions on your behalf. A power of […]
How to Protect Your Family’s Privacy in Your Estate Plan
Posted on December 28, 2023
When creating an estate plan, many people focus on ensuring that their assets are distributed according to their wishes and that their loved ones will be taken care of after they pass away. This is often the primary goal of estate planning, although there are several other considerations that may come into play. Another important aspect of estate planning is protecting your family’s privacy. In the digital age, where information is easily accessible and identity theft is a constant threat, it is crucial to take steps to safeguard your family’s […]
When Should Advance Directives Be Included in an Estate Plan?
Posted on December 20, 2023
Regardless of your age, it is important to have an estate plan in place to ensure that your financial and personal matters will be handled correctly in the future. However, while you may understand the importance of making decisions about the distribution of your assets to your beneficiaries through testamentary planning, you may not be aware of the importance of incapacity planning. Testamentary planning focuses on asset distribution after a person’s death, while incapacity planning addresses the possibility of being unable to make decisions due to illness or injury. Advance […]
What Does a Comprehensive Estate Plan Protect?
Posted on July 13, 2021
Most people have a vague idea of why it is important to have a last will and testament. However, few recognize just how wide-reaching a comprehensive estate plan can be. A comprehensive estate plan contains much more than a will. By utilizing a combination of different estate planning instruments, you can address not only inheritance concerns but also how medical and financial decisions should be made if you are incapacitated, who should care for minor children if you die, and other critical matters. Most importantly, an estate plan protects your […]
What You Should Know About the Power of Attorney for Health Care and Living Wills
Posted on November 25, 2020
It is easy to think that estate planning primarily addresses how to divide your property and provide for your loved ones in the event of your death. However, a significant portion of the estate planning process can be dedicated to ensuring that you are properly cared for while you are alive. As an experienced estate planning attorney, I am regularly asked about some of the various tools that can be used to specify a person’s wishes regarding medical care and health decisions. There are several options from which to choose, […]
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