This is a difficult personal question and a complex legal question as well.
If a parent or sibling is asking you to consider taking on this role and they have no other responsible, caring person to take on this role, then it is a personal decision only you can make.
Fortunately, I can assist you by reviewing the duties the law imposes on you by acting as either, and we can discuss the typical potential issues that may be involved. It is prudent of course for you to go into this situation with your eyes wide open, and take all possible safeguards so that neither you nor your family has liability issues.
Please take a moment to read testimonials from my clients about how I’ve helped guide them through challenging personal situations. Contact me to no risk, and we will discuss how I could advise you in such a situation.
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 […]