What is a Power of Attorney?

No one likes to think about the possibility that he or she may become incapacitated. However, it is wise to plan for that possibility. A Power of Attorney is one way to arrange for someone to manage another person's finances if they can no longer do it themselves. Once a person becomes incapacitated, it's probably too late to execute a Power of Attorney. That's why it's so important to plan ahead. 

There are different types of Power of Attorney.  For example, there is a Power of Attorney for Property which allows someone to sell, buy, or make other decisions related to property on your behalf if you are not capable of doing so.  There is also a Power of Attorney for Health Care.  With this Power of Attorney, you can allow someone to make a decision about your health care if you are not capable of doing so.  Both of these are extremely important and if you do not have some in place, you should consider getting some drafted.  A simple estate plan can cost only a few hundred dollars but can make a world of difference.

We highly recommend that everyone have a power of attorney. Our office can help you prepare all your legal estate planning documents. We will offer advice, and keep your estate plan current with the laws governing estate planning. And, you have the satisfaction of knowing that your affairs are in order, per your wishes.

Posted by:
Bradford Miller Law, P.C.

10 S. LaSalle Street, Suite 2920

Chicago, IL 60603

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