Why Illinois Residents Need More Than One Power of Attorney

 Posted on March 14, 2024 in Estate Planning

Powers of attorney are absolutely essential for protecting yourself should you become incapacitated. If you do not have powers of attorney in place and begin to suffer from an age-related disease like dementia, or you have a serious accident and suffer brain damage, the court will likely need to step in and choose someone to manage your affairs and make medical decisions for you. While incapacitated, you will have no say in who the court chooses. If you do have powers of attorney, there is no need for the court to get involved. The people you chose can simply step in and begin performing the roles you appointed them to. It is best to have the help of a Cook County, IL estate planning lawyer when you create your powers of attorney.

Types of Powers of Attorney You Need 

There are several different types of powers of attorney. You may want separate powers of attorney for healthcare, for personal decision-making, and for financial management. The person you would want to manage your finances and access your bank account to pay your living expenses might not be the same person you would want to decide where you should live.

Perhaps your daughter is excellent at financial management but prone to making emotionally driven decisions when it comes to your end-of-life healthcare that might go against your wishes. Or your son may be in agreement with your end-of-life plans, but not particularly trustworthy when it comes to making sure your bills are all paid on time. If you are elderly, you may even want a dear friend closer to your age who understands your wishes to be the one making personal decisions for you.

You can create different powers of attorney for different purposes and name different people. You can name three different people with three different powers of attorney so that each person has control over only one specific area of your life. Your financial power of attorney may be someone you know to be responsible with money. Your healthcare power of attorney may be the person you trust to abide by your wishes. Your personal power of attorney may be someone you trust not to place you in a nursing home unless it is absolutely necessary.

Your estate planning attorney can help you make the best decisions possible when you are creating powers of attorney.

Contact a Chicago, IL Powers of Attorney Lawyer 

Whitacre & Stefanczuk LTD sees estate planning as a comprehensive plan for protection during your lifetime and beyond. Our dedicated Cook County, IL incapacity planning attorneys will strive to ensure that your wishes are clearly expressed and will be respected no matter what. Contact us at 773-622-6100 for a complimentary consultation. Mówimy po Polsku.