Power of Attorney in Berwyn, Illinois

Find the right Power of Attorney attorney in Berwyn, IL

In Berwyn, Illinois, power of attorney is an arrangement in which one person (the principal) gives another (the attorney-in-fact) the ability to act on the principal's behalf in certain situations, and under certain conditions. Power of attorney might be granted for any number of reasons, but it is most often set up to allow the attorney-in-fact to make financial and medical decisions on the principal's behalf in the event that the principal becomes incapacitated.

The principal can state in advance the scope and nature of the attorney-in-fact's authority. The agreement should be very clear on this matter, so you give the attorney-in-fact enough authority to carry out your instructions, but not more than they need in order to accomplish your objectives. Furthermore, the attorney-in-fact should be someone you trust, such as a family member or life partner. You also need to be aware of the fact that your unique situation, as well as the actions you want the attorney to be able to take on your behalf, will help determine the most effective arrangement.

One very common reason for granting power of attorney is that the grantor believes that they might become incapacitated, due to age or illness, in the relatively near future, and they want to make sure that their preferences relating to care at the end of their life are followed. Of course, if nobody knows what that person's preferences are, and the patient is unable to express them, family members and doctors will simply have to guess. Obviously, there's a good chance that they could get it wrong. Therefore, you should make your desires well-known to those who will be in a position to implement it, and grant, in writing, a person you trust (such as a spouse, life partner, sibling, or adult child) the power to carry out your wishes, if necessary.

In Berwyn, Illinois, you can probably find pre-printed forms at office supply stores available for purchase. They already have the basic terms of a power-of-attorney agreement written, and just require the parties to fill in the blanks with names, dates, and a few other details.

Types of Power of Attorney Arrangements in Berwyn, Illinois

In Berwyn, Illinois, there are 3 forms of power of attorney. They are:

1. Limited power of attorney - limited power of attorney gives the attorney-in-fact the power to act on your behalf on a single issue, in a single transaction. For example, if you are buying a house in another state, you may wish to grant limited power of attorney to a friend or relative who lives in that state, so they can sign all of the relevant documents on your behalf, so you don't have to incur travel expenses. For obvious reasons, you should only grant this power to someone you trust. Once the transaction is complete, the power of attorney automatically disappears.

2. Durable power of attorney - this gives the attorney-in-fact much more power than limited power of attorney. It can, in theory, give them unlimited power in a specific area of the principal's affairs. The document should lay out exactly what power the attorney-in-fact will wield. This arrangement, when used carefully, can be very useful, allowing the attorney-in-fact to make important decisions for the principal as long as is necessary, because it does not automatically disappear after a single transaction. Also, the principal can revoke the power of attorney at any time.

3. Springing power of attorney - this is a form of power of attorney which doesn't actually take effect until the occurrence of some specified event. This event can be anything, but it is often the principal becoming disabled. You should be aware, though, that it is not always clear what "disabled" means in such an agreement, which can result in disagreements, resulting in litigation.

Can a Berwyn, Illinois Lawyer Help?

Because there are sometimes complicated issues involved in setting up power of attorney in Berwyn, Illinois, you should consult with a lawyer beforehand. You can tell the lawyer all of the relevant details about your particular situation, and your goals, and he or she will be able to advise you on the best course of action.

Talk to a Wills, Trusts and Estates Law Attorney now!

Life in Berwyn

Berwyn is located in Cook County in the state of Illinois. It has a population of 54,000 and was formed in the year 1908. It is frequently co-listed with Berwyn Township.

Berwyn is known for being the fastest-growing suburb in Illinois. It is noted for having the largest collection of Chicago-style brick two story bungalows in the United States. The city boasts a growing arts community due to its Arts Council and top notch entertainment and music venues. It also has a professional equity theater in operation. Berwyn has become a haven for artists who are seeking a vibrant alternative to downtown Chicago.

Other attractions in Berwyn include the widely celebrated Houby Day Parade and the Fall Mushroom Harvest, both of which are held annually. An annual vintage car parade called "Cartopia" is held wherein Berwyn residents can showcase their prized automobiles.

Lawyers in Berwyn, Illinois practice in a variety of legal fields. Specifically, many Berwyn lawyers focus on finance and investment law. This is because the Cermak Road area has been nicknamed the "Bohemian Wall Street", since it contains a large number of savings and loans institutions. Berwyn has been reported to have the highest concentration of financial and lending institutions in the entire world.

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