Business Insight presented by Navigant Law Group, LLC Controlling Important Outcomes When people ask what I do for a living, I say, "I help people who might 1 die someday." People laugh, but I'm serious. As an estate planning attorney, 1 believe a little humor helps-being unprepared does not. - Two common but critical components of an estate plan are the Power of Attorney for Property and the Power of Attorney for Healthcare. I think of these POAS as exit strategies: they authorize someone you trust to act for you without a guardianship court. Attorney Mildred Palmer A Power of Attorney for Property names an agent to handle your financial and day-to-day business affairs. You choose who this person is, what powers they have, and when those powers begin. A general POA for Property can let your agent manage finances, pay bills, access accounts, and sell property, all as your fiduciary and only in your best interest. This POA can stay in effect even if you are incapacitated. You can limit authority with specific instructions. Without ensures your preferences are honored. a POA for Property, family members may face a public, expensive, and slow guardianship process to obtain similar control. Together, these documents don't control fate, but they give you control over important outcomes for yourself and your loved ones during critical times. Drafting clear, specific POAs reduces stress, avoids court intervention, and While executing documents is of critical importance, it is not the end of the work. We encourage our clients to inform the agents under power of A Power of Attorney for Healthcare attorney that they are named and to designates someone to make medical discuss with them how they would decisions for you if you cannot. like to have things done. These critical This includes choices about pain conversations range from financial management, life-extending measures, (knowing which bills are on auto pay and where you spend your final days or paid by check or bank payment, if death is imminent. It can instruct knowing how money flows monthly medical providers to share records and where assets are located) to and consult your agent about tests, medical (knowing who doctors are, surgeries, and treatments. Without a POA for Healthcare, you risk unwanted procedures or being kept alive by extensive measures contrary to your wishes. The standard for the actions of the agent is substituted judgement. What would you want if you could speak for yourself. NAVIGANT LAW GROUP LLC what treatments you are taking and your medications, being able to speak about your end of life wishes). It is a lot. We guide clients through how to have these discussions. To discuss your options and create an exit strategy that fits your needs, call us at 847-253-8800. 847-253-8800 | www.navigantlaw.com 3030 W. Salt Creek Lane, Suite 330, Arlington Heights Business Insight presented by Navigant Law Group , LLC Controlling Important Outcomes When people ask what I do for a living , I say , " I help people who might 1 die someday . " People laugh , but I'm serious . As an estate planning attorney , 1 believe a little humor helps - being unprepared does not . - Two common but critical components of an estate plan are the Power of Attorney for Property and the Power of Attorney for Healthcare . I think of these POAS as exit strategies : they authorize someone you trust to act for you without a guardianship court . Attorney Mildred Palmer A Power of Attorney for Property names an agent to handle your financial and day - to - day business affairs . You choose who this person is , what powers they have , and when those powers begin . A general POA for Property can let your agent manage finances , pay bills , access accounts , and sell property , all as your fiduciary and only in your best interest . This POA can stay in effect even if you are incapacitated . You can limit authority with specific instructions . Without ensures your preferences are honored . a POA for Property , family members may face a public , expensive , and slow guardianship process to obtain similar control . Together , these documents don't control fate , but they give you control over important outcomes for yourself and your loved ones during critical times . Drafting clear , specific POAs reduces stress , avoids court intervention , and While executing documents is of critical importance , it is not the end of the work . We encourage our clients to inform the agents under power of A Power of Attorney for Healthcare attorney that they are named and to designates someone to make medical discuss with them how they would decisions for you if you cannot . like to have things done . These critical This includes choices about pain conversations range from financial management , life - extending measures , ( knowing which bills are on auto pay and where you spend your final days or paid by check or bank payment , if death is imminent . It can instruct knowing how money flows monthly medical providers to share records and where assets are located ) to and consult your agent about tests , medical ( knowing who doctors are , surgeries , and treatments . Without a POA for Healthcare , you risk unwanted procedures or being kept alive by extensive measures contrary to your wishes . The standard for the actions of the agent is substituted judgement . What would you want if you could speak for yourself . NAVIGANT LAW GROUP LLC what treatments you are taking and your medications , being able to speak about your end of life wishes ) . It is a lot . We guide clients through how to have these discussions . To discuss your options and create an exit strategy that fits your needs , call us at 847-253-8800 . 847-253-8800 | www.navigantlaw.com 3030 W. Salt Creek Lane , Suite 330 , Arlington Heights