Dedicated estate planning attorneys assisting clients with all of their estate planning needs in
Arlington Heights, Libertyville, Itasca, Cary and Chicago
It is a commonly known fact that no one knows what will happen to your health and capabilities over time. In the event you are no longer able to care for yourself or your financials, do you know how it will get done? Creating a power of attorney is a helpful tool to ensure that your affairs will be maintained in the event that you are no longer able to do so. The unfortunate reality is that the time does not stop when your health or affairs are no longer in order. Do not let poor planning be the reason you lose everything you have. Contact an experienced Libertyville Illinois estate planning lawyer at Newland & Newland, LLP to designate a property power of attorney today.
Understanding a Power of Attorney
A power of attorney is a legal document that designates an individual, or combination of individuals, to make decisions regarding any matter that may have legal significance. The individual(s) designated will be your agent(s) and are under a duty to act in your best interests. When you are no longer able to do so, your agent can make many determinations on your behalf.
- Your agent can make decisions regarding your real and personal property (including homes, cars, jewelry, etc).
- Your agent can make decisions regarding your finances relating to debit card transactions, credit card transactions, savings, as well as stocks and securities.
- Your agent is able to manage any benefits received including social security benefits, unemployment, and military benefits.
A property power of attorney gives your agent the power to make many decisions on your behalf. To find out more information regarding all of the decisions your designated agent can make, contact Newland & Newland, LLP today.
Contact the Arlington Heights Law Firm of Newland & Newland, LLP to Ensure Your Estate Plan Complies with the Law
One benefit of a Power of Attorney is that it removes the burden of making financial decisions from your family members. Everyone grieves differently; having the conversation with a potential agent can ensure that the individual is willing to accept the important responsibility of taking care of your financial matters. Once the individual accepts the responsibility, you want to ensure that your power of attorney is effective.
The best way to ensure your power of attorney is legally effective is to contact an experienced estate planning lawyer at Newland & Newland, LLP. The law has many complexities. In addition to the legal language that must be included for your power of attorney to take effect, the circumstances of your case will affect the language added, the restrictions put in place, and more.
Contact one of our attorneys today to put your future estate plans into action. Our firm has several offices located throughout Illinois, making it easier to meet with us at your convenience. We have five offices located in Arlington Heights, Libertyville, Chicago, Cary, and Itasca.