Two Reasons to Give Someone Power of Attorney in Illinois

 Posted on March 21,2024 in Estate Planning

By nature, humans are an optimistic species. We do not want to think of a future where we can no longer take care of ourselves and need hired help to get us through the day. While many people end up living in nursing homes, most of them probably never pictured that when they were younger, preferring instead to imagine they would be forever young, healthy, and strong. Unfortunately, that is not the reality for most of us.

While it is human nature to prefer focusing on a rosy future, people can also manage to overcome that to plan for a hypothetical future that may not be so grand. That is why people draw up savings plans for rainy days, prenuptial agreements, wills, and even business contracts - they are forcing themselves to think about negative things that might happen and thus protecting their future selves in case that comes to be.

This same mindset is what leads people to sign over power of attorney to someone they trust. Again, no one wants to think of a future where they are incapable of making decisions for themselves, but power of attorney is there to protect them in the hypothetical event that it happens. If you have been thinking about this as well, let an experienced Lombard, IL estate planning attorney answer your questions and arm you with more information.

Power of Attorney Explained

Power of attorney is a right granted to someone to make decisions on behalf of someone else who is otherwise incapable of doing so on their own behalf. That person given this power is known as the attorney-in-fact or the power of attorney agent. Generally, you would only appoint someone you truly trust personally with this power.

Two Main Spheres for Power of Attorney

While a power of attorney agent might be called in to make decisions on any number of topics on your behalf, the two main areas where they are relevant are:

• Finances: If you cannot make your own decisions and express them sufficiently, you may need to have someone else you trust to decide what to do with your assets and finances. If you have worked hard to amass your assets and are incapacitated when a crucial decision is needed, you will want a trusted friend or relative to handle it on your behalf. 
• Medical care: If you are unwell and unable to decide and express what you want, someone with power of attorney may be called in to decide what procedure you will undergo, what medication you will receive, whether to use a feeding tube if relevant and even whether to perform various life support interventions. These can be life-and-death decisions, and if you are unable to make them, you will want someone you trust to do so for you.

Contact a DuPage County, IL Estate Planning Attorney

If you have questions about power of attorney, let a knowledgeable Wheaton, IL power of attorney lawyer answer them. At A. Traub & Associates, your peace of mind is our top priority. Call 630-426-0196 so we can review your case and get started.