It’s a common misconception — estate attorneys in Chicago are only needed if you’re extremely wealthy. However, this is completely false! If you have a modest lifestyle and don’t own a private jet or other luxuries, here’s how estate attorneys in Chicago can help you.
Estate Attorneys In Chicago Can Establish A Living Will
Even though it seems slightly morbid, it’s important to think about what happens if you’re suddenly incapacitated and unable to speak for yourself. Whether you had a major medical event, such as a heart attack or stroke, or were in a car accident, it’s important that your family members know how much — or how little — medical care you want to receive. Perhaps the thought of living on a ventilator for the rest of your life bothers you or you don’t want to receive life-sustaining nutrition if you’re unable to eat on your own.
A living will can take the guesswork out of your family members’ hands. They won’t have to worry about arguing over what they think you would have liked, because your living will can make sure everyone knows your wishes.
Estate Attorneys In Chicago Can Establish Guardianship
If you have minor children, do you know what would happen to them if you were to suddenly die? While this is any parent’s nightmare, it’s important to plan for this possibility, just in case. Before you meet with estate attorneys in Chicago, talk to your friends and family members. Ask them if they’re willing to step up and raise your children in case you pass away and then have your attorneys draw up guardianship papers so there’s no question. This important step can help ensure that your children are left in a stable household, no matter what happens to you.
Guardianship also refers to the legal guardianship of adults who are no longer able to care for themselves. Establishing guardianship of an adult means that you’ll be able to make medical and financial decisions for them, but you must be appointed by a court order for the guardianship to be legal.
Estate Attorneys In Chicago Can Create A Power Of Attorney
A power of attorney is a useful document if you’re ever unable to access your money, sign legal paperwork or make medical decisions. A power of attorney can be special or limited. If you decide on a limited power of attorney, your estate attorneys in Chicago will be able to advise you on just what it entails because the power will be limited to the specifications in the document. A special power of attorney will give your agent full power of representation in all situations. If you’re not sure which document is right for your situation, make sure to ask your estate attorneys in Chicago for their advice to make sure that you’re choosing the right one.
Someone with a power of attorney can make medical decisions for you if you’re unable to make them yourself. However the difference between this and a living will is that with a power of attorney, the agent does not have to take your wishes into consideration. If you have a specific way you want medical issues to be handled, a living will is a necessary document.
You don’t need to be very wealthy to take advantage of estate attorneys in Chicago, as everyone should have a living will, establish guardianship for their minor children and have a power of attorney in case they’re unable to make decisions for themselves.
If you’re looking for estate attorneys in Chicago, Peck Ritchey, LLC can help. We can help you understand the complex issues surrounding estate planning to make sure you — and your loved ones — are taken care of.