Designating Power Of Attorney Can Be An Important Part Of Your Estate Plan
When planning your estate, appointing someone as having power of attorney gives that person the authority to manage your affairs if and when you are unable.
At LeVine Ehrman Ltd., we can help you determine how to best plan your estate, including options for granting powers of attorney. Our attorneys take the time to sit down with every client to explain all the options available in planning for their estate. Your situation is unique, and it is vital to fully understand the opportunities and alternatives before signing legal documents. You can get started by calling 708-840-7779.
Understand Your Options For Power Of Attorney
There are several types of powers of attorney (POA), with each serving a distinct set of purposes. Here are some terms that you will want to be aware of when appointing powers of attorney:
- General power of attorney: This authorizes the appointed person to oversee and make any legal decisions in your stead.
- Durable/financial power of attorney: This authorizes the appointed person to manage your finances, stocks and bank accounts.
- Health care power of attorney: This authorizes the appointed person to make health care decisions on your behalf.
- Irrevocable power of attorney: This is a power of attorney that cannot be revoked by the principal; these are usually limited to a specific purpose.
- Special/limited power of attorney: This power of attorney authorizes the appointed person to carry out a particular business transaction for the principal.
Our team will work with you to devise a comprehensive estate plan. Our goal is always to protect your person and property. With more than 80 years of combined legal practice, our attorneys are proud to have assisted multiple generations of the same families.
Take Control Of Your Estate By Planning Ahead
If you become incapacitated later in life and have not designated a power of attorney, a court proceeding may be held to gain authority over your financial affairs, and a guardian may be assigned to you by a judge. Take control of your estate by planning for your future.
Reach Out Today To Schedule A Consultation
Schedule an appointment online to discuss appointing powers of attorney, or call 708-840-7779. Initial consultations with our lawyers are free. From our office in Tinley Park, Illinois, our team helps families throughout the Chicago area plan for their future.