The very simple answer to the second question is yes, you absolutely do need them. The good news is that I prepare them for every Estate Plan that I draft for a client. These documents serve to appoint someone your trust; whether it be spouse, partner, sibling or friend, to act on your behalf to make either medical or financial decisions, or both, should you be unable to do so because of a disability you are suffering. This may be either a short term or long term period. No one of course wishes to think about being disabled; but we must all recognize that it is a possibility, and having these documents let’s YOU decide who will act on your behalf, not the Court system. I am available to talk about this issue, please call me.
While there is no legal requirement in Illinois that a Lawyer has to be hired by a home seller, as a practicality it is nearly impossible and certainly ill-advised to represent oneself. There are many documents that need to be drafted, almost all of them fairly complex and detailed. Additionally, the negotiations that often occur […]
When I meet with prospective Estate Planning clients for the first time, it is very common for most people to believe that an effective Estate Plan must be complicated. This is generally not the case. A well drafted document – whether it is a Will or a Living Trust – should be not only legally […]
This unfortunately happens far too often. As people age, sometimes their ability to safeguard their assets diminishes. Fortunately there are laws to protect senior citizens, and each case of potential financial abuse is unique based on the facts at work. Parents, aunts/uncles or close friends who are seniors may often be reluctant to share information […]
If you have a living trust in place, it can probably be amended. It is, however, completely dependent on whether it is what is known as a Revocable Trust. The majority of Trusts are revocable in nature, which is the legal wording used to also indicate that they are amendable, or can be changed. This […]