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CHICAGO

Power of Attorney
(POA) Lawyers

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How Can A Dedicated Chicago Power of Attorney (POA) Lawyer in Chicago Help Me?

There are many unpleasant situations that can leave you unable to make your own decisions about healthcare, finances, or your business. While no one likes to consider these circumstances, it is important to prepare for them. A power of attorney is a legal document that designates a person to act in your stead. The power can be limited to certain situations, certain decisions, or a certain time limit. It can be transferred to a secondary nominee if your first choice abuses his or her authority to make decisions. In this way, a power of attorney allows you to maintain control over your healthcare and finances in situations in which you are unable to make your wishes known.

If you would like to discuss your power of attorney options, consult with the legal team at Malman Law today.

When to Hire a Power of Attorney for Medical Issues?

You can assign power of attorney for specific decisions. One common designation is a healthcare power of attorney, which applies to medical decisions that you cannot make due to incapacity. Incapacity is a legal term that means you do not have the ability to make decisions for yourself. This could be for a physical reason, such as being in a coma. It could also be for mental reasons. If a patient were suffering from dementia, for example, he or she may not be competent to make decisions about healthcare.

Power of attorney grants the authority to make medical decisions. Because you are appointing your “attorney,” you are able to maintain control over your health decisions by choosing the person who makes them. This is why it is so important to execute a valid power of attorney prior to being incapacitated. It is also important to supplement a power of attorney with documents that specifically state what your medical wishes are. This can be done in a living will or an advanced healthcare directive.

When to Hire Power of Attorney for Financial Issues?

You may also designate power of attorney to a person who will make financial decisions on your behalf. Again, this power only applies if you have been incapacitated. Once you have been proven to be incompetent to make your own financial decisions, your “attorney” will be able to make these decisions for you. This is why you must choose someone who you trust with your assets. You can also provide for a secondary “attorney” who will take over if the first “attorney” abuses his or her authority to make financial decisions on your behalf.

Your financial power of attorney can be specific or general. You might identify specific decisions (such as paying your bills as they come due), or grant a general authority to act on your behalf in all financial matters that concern you. Your financial power of attorney should address any specific matters that apply to your personal, family, or business finances.

When to Hire a Power of Attorney for Issues Related to a Business Entity?

Your financial affairs may involve an interest in a business entity. This could be as the owner of an LLC, a stockholder in a publicly-traded corporation, or a partner in a limited business venture. These business interests involve different types of authority. One is a simple financial interest in the business profits and losses, or the sale of your stock. The other is management or voting interest. This occurs if you are a voting owner or a member of a board of directors.

If you become incapacitated, you can execute a power of attorney that gives your chosen “attorney” the authority to act on your behalf in all business matters. This person has the exact same authority over the business that you would have if you could act on your own behalf. For example, if you have one vote on a ten-vote board, your attorney will only be able to make your single vote by proxy. But the management and voting decisions your proxy makes can dramatically affect your legal and financial interests in the business. Be sure to choose a proxy who understands the business and will make informed decisions in your stead.

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Why Should I Contact  A Chicago Estate Planning Lawyer With Experience in All Power of Attorney Cases?

The proper use of power of attorney allows you to retain control of your healthcare and finances, even when you are no longer able to manage them yourself. The experienced lawyers at Malman Law are skilled in all powers of attorney and can help you execute legally effective documents that will meet your goals. Contact us to schedule your appointment with an experienced Chicago estate planning lawyer. Don’t delay – the sooner you have executed a valid power of attorney, the better protected your legal interests will be in the event you are incapacitated.
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    They area very helpful and when it come to getting things done with your case I had the pleasureof working with Jason Kellerman he was awesome I highly recommend them.

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    I was rear-ended by a semi-truck on my way to work. I was transported to the hospital and my car was totaled. In the aftermath, Dan Petrich and Anna Schmidt from Malman Law helped me get set up with physical therapy and negotiated with the insurance companies to make sure the resulting settlement would cover my medical bills and a rental car until I could get a new car. I would highly recommend their services.

    would do everything they could for me.

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    I contacted Malman Law go my work injury. So professional from my first phone call. Mr. Malman’s investigator, Dan, came right out to our home. Everything was explained in detail so I know what to expect during this process. I certainly recommend anyone ever in need of a personal injury lawyer to call Malman Law. Truly the best!! Thanks everyone!

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    I have had an amazing experiences with Malman law so far. From the start Dan was super easy to work with, got me the medical attention I needed and fast. Couldn’t ask for better communication. Neil Kilcoyne has been nothing but the best I could not recommend a better attorney. Malman Law is a 10 out of 10 law firm.

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    Hi I just want to acknowledge Jay McCarron, Kelly & the Firm at Malman Law for representing me as they continue to work on my case. Thanks for keeping me updated & responding quickly to any of my questions or concerns. I would Highly recommend you and your firm to friends & family. E. P.

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    - Greg Gustafson

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    Helped me out of a big jam when my auto was hit twice when and the other drivers had no insurance. Adam Meadow is the only Lawyer I will call for helping me an my daughter.

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    I cannot give enough praise to the team at Malman Law, for helping with my case . My children were involved in a auto collision and the attorney Adam along with his paralegal Michelle worked diligently until the matter was resolved and my entire family was happy. I would definitely recommend Malman Law for anybody going through legal troubles.

    - Adrian Lopez

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    A close friend recommended me to Malman Law. I currently have a case with them due to a car accident I had and ever since the accident they have been taking care of everything for me without me having to worry about anything. They took care of the medical bills & helped me get physical therapy right away. I highly recommend them.

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    Bella Feinstein, Jason Kellerman, and Terry Davey, have been instrumental in helping me though many difficult situations. Not only did they work to get my mom a settlement, they have continued to help me through the legal process of relocating my mom to a different state. I’m very grateful for their hard work and good advice.

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    Everyone at Malman Law made me feel welcomed and heard. My lawyer, Adam Meadow, as well as staff kept me up to date and were more than happy to do so! I would highly recommend their services. Also- a plus is many employees are fluent in Spanish. My experience was easy and worthwhile.

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2 years ago I was involved in a trucking accident involving a 14-wheeler truck that nearly disabled me for life. Steve fought to make sure that I received the most possible compensation for my injuries. I was about to take the insurance company’s lowball offer, but decided to call Steve first – it was the best decision I’ve made yet

NOAH TAFFELPersonal Injury Victim