Rockford Power of Attorney Services 

Understanding the Power of Attorney: A Comprehensive Guide

A power of attorney (POA) is a legal document that gives someone else the authority to act on your behalf. The person who creates the POA is called the principal, and the person who is given the authority to act is called the agent. The agent is also called an attorney-in-fact, but he or she does not have to be a lawyer.

There are several types of POAs, and they can be as broad or as limited as you want. A POA can be used to give someone the authority to act on your behalf in all matters, or in just one specific situation. For example, you can create a POA to allow someone to sign real estate documents for you while you are out of the country. In this case, the POA would be limited to that specific transaction.

Creating a power of attorney is an important part of a comprehensive estate plan. An experienced Rockford power of attorney lawyer can help you create the right POA for your situation. At Estate Law Partners, LLC, we have been helping clients create power of attorney documents for years. We have extensive experience working with clients who have complex financial and healthcare needs, and we can help you create the right POA to protect you and your loved ones.

Have questions? Get in touch with an experienced POA lawyer in Rockford, IL at Estate Law Partners, LLC. Complete our online form or call (608) 292-5185 to schedule a consultation.

Explore Common Types of Power of Attorney

• Durable Power of Attorney
• Healthcare Power of Attorney
• Financial Power of Attorney
• Limited Power of Attorney

What You Need to Know About Durable Power of Attorney

A durable power of attorney is one that remains in effect even if you become mentally incapacitated. A POA that is not durable would become invalid if you become incapacitated. For this reason, a durable POA is an important part of a comprehensive estate plan.

If you become mentally incapacitated and do not have a durable POA in place, your loved ones will have to go to court to get a guardianship or conservatorship established. This is a costly and time-consuming process that can be avoided by having a durable POA.

Understanding Healthcare Power of Attorney (HPOA)

A healthcare power of attorney is one that gives someone else the authority to make medical decisions for you if you are unable to make them for yourself. This is also called a healthcare proxy.

It is important to choose someone you trust as your healthcare power of attorney because he or she will have the authority to make decisions about the types of care you receive, where you receive it, and who provides it. In addition to naming a healthcare power of attorney, you can also create a living will to give instructions about the type of care you want to receive.

Every state has its own laws regarding healthcare powers of attorney and living wills, so it is important to work with an attorney who is licensed in Illinois to create these documents. An experienced POA lawyer in Rockford at Estate Law Partners, LLC can make sure you have the right documents in place to protect you and your loved ones.

How Financial Power of Attorney Functions

A financial power of attorney is one that gives someone else the authority to make financial decisions for you. This type of POA can be effective immediately or when you become incapacitated. A financial POA can give the agent the authority to pay bills, buy and sell property, manage investments, and handle other financial matters.

Defining Limited Power of Attorney

A limited power of attorney is one that gives someone else the authority to act on your behalf, but only for a specific transaction. This type of POA is often used in real estate transactions. For example, if you are going to be out of the country when your new home is being built, you can create a limited POA to allow someone else to sign the necessary documents for you.

Steps to Obtain Power of Attorney in Rockford, IL

At Estate Law Partners, LLC, we pride ourselves on delivering cutting-edge legal services with authenticity and respect. With years of experience in estate planning law, we are committed to providing empathetic and personalized support for each client’s unique needs. Trust our dedicated team to guide you through the complexities of estate planning with professionalism and care. Partner with us to ensure your affairs are managed with the utmost integrity and expertise. 

Get in touch with a qualified Rockford POA attorney at Estate Law Partners, LLC to set up a consultation. Contact us online or call (608) 292-5185.