A sudden illness, serious accident, or unexpected hospital stay can leave you relying on someone else to handle responsibilities you normally manage yourself, from paying household bills and dealing with financial accounts to speaking with healthcare providers about your medical care. A Power of Attorney gives someone you trust the legal authority to act for you in certain situations, which is why having these documents in place can be valuable for Illinois adults at many stages of life, rather than something to think about only as you grow older.
For more than 50 years, Woods & Bates, P.C. has served families throughout Central Illinois, helping people put estate plans in place that reflect their wishes, prepare for unexpected circumstances, and protect what they have worked hard to build for the people they care about.
What Does a Power of Attorney Allow Someone to Do?
A Power of Attorney allows you, known as the Principal, to appoint another person, known as your Agent, who can act on your behalf within the authority you give them. Depending on the document, your Agent could handle banking and bill payments, address certain real estate or insurance matters, review medical records, communicate with healthcare providers, or make healthcare decisions when you cannot make those decisions yourself.
Financial and Healthcare Powers of Attorney Are Different
Illinois uses separate Power of Attorney documents for financial and healthcare matters, which allows you to decide who should handle each type of responsibility if help is needed.
A Power of Attorney for Property can authorize your Agent to manage matters involving banking, investments, real estate, bills, business interests, and other financial affairs, while a Power of Attorney for Health Care can authorize your Agent to communicate with medical providers, review medical information, and make healthcare decisions within the authority you provide.
You can appoint the same person for both roles or choose different people based on who you trust to handle each responsibility.
When Do These Documents Take Effect?
Illinois Power of Attorney documents can be prepared so that an Agent has authority immediately or so that the authority begins after a stated event occurs, depending on how the document is written. These documents can also remain effective if you later lose the ability to make decisions for yourself, allowing the person you selected to step in at a time when you need help the most.
Waiting until an illness or emergency occurs can make planning much more difficult, especially if you are no longer able to sign documents or communicate your wishes, so putting a plan in place earlier allows you to make these choices for yourself.
What Happens If You Do Not Have a Power of Attorney?
If you become unable to manage your affairs and do not have a valid Power of Attorney, your loved ones do not automatically receive authority to handle every financial or personal matter on your behalf. Depending on the circumstances, a family member could need to ask an Illinois court to appoint a guardian, which can add time, expense, and court involvement during an already difficult period for your family.
How Do You Choose the Right Person?
Choosing an Agent involves more than selecting the person who is closest to you, since the individual should be trustworthy, responsible, willing to respect your wishes, and capable of remaining calm when financial or medical decisions need to be made. You can also name successor Agents who can serve if your first choice is unavailable, giving your plan another layer of preparation if circumstances change.
Put Your Wishes in Writing
A Power of Attorney gives you the opportunity to decide who can speak and act for you before an unexpected illness, injury, or period of incapacity makes those choices harder to address.
Woods & Bates, P.C. can help you prepare Power of Attorney documents as part of your estate plan or review existing documents that may no longer reflect your wishes and circumstances.
Call (217) 735-1234 or contact us online to schedule an assessment. We offer in-person appointments at our Central Illinois offices, along with convenient virtual assessments for clients who prefer to meet remotely.