A property power of attorney is also referred to as a Durable Power of Attorney. My property power of attorneys are more extensive than the basic statutory form as they include additional paragraphs from readings and my dealings with banks and other entities over the years that make these documents more effective. I personalize these documents to your particular property situation. These documents last until death and allow the agent named (and successor) to perform legal actions for you that ordinarily they would not be able to do. This includes signing your name to checks, dealing with your bank accounts and selling real estate in your name, to state a few of the possible actions. This is most important if you should suffer a serious medical condition that renders you unable to manage your affairs. The Durable Power of Attorney allows your agent to step in without the need for a court appointed guardian, saving the expense and the mandatory reports to the court associated with guardianships. This document is effective on signing and does not require that you be incompetent or unable to act for its use by your agent. However, the document can be drawn where it is only effective on your incompetency certified to by a doctor or can be limited in anyway you wish. The charge is $125.00 for each power of attorney or $100.00 each for a husband and wife. There may be an additional charge if the execution of the power of attorney takes place outside of my office.
Health Care Power of Attorney
The Illinois Health Care Power of Attorney replaces what was called the Living Will. My health care power of attorney is more extensive than the basic statutory form as the results of my dealings with medical providers and readings over the years which make the documents more effective. The purpose of this document is to allow your named agent (and successor) to make health care decisions for you if you are unable to make those decisions due to health or mental conditions. You should talk with your agent so he or she is familiar with what you would want done in case of a terminal condition. The statutory form contains 3 options for statements that might reflect your view on this topic. I can also modify the statements to more closely reflect your opinion. The document also allows for organ or body donations. This section can be removed if you like or have made other arrangements for organ donation such as through the Secretary of State on your driver’s license. This power of attorney is effective only if you cannot make you own decisions. The charge is $125.00 for each power of attorney or $100.00 each for a husband and wife. There may be an additional charge if the execution of the power of attorney takes place outside of my office.
Last Will and Testament
The purpose of a Will is to designate who is to receive your property on death, appoint your executor and make other special provisions for your children or charities. The Will may include a testamentary trust to take effect at your death but allows you to exercise long term control over the trust property after your death. The Will should be an expression of your own specific desires. The Will preparation process includes a conference on estate planning with a discussion of inheritance taxes and ways to avoid probate. The charge is $125.00 for each Will or $100.00 each for a husband and wife. There may be an additional charge if the execution of the Will takes place outside of my office. A trust contained in your Last Will and Testament increases the charge to $250 and possibilly more depending complexity and time involved.