Latest News And Resources In Real Estate Closings, Estate Planning, and

Business Planning

What is a Power of Attorney and Do I Need One?

A Power of Attorney (POA) is a crucial legal document that allows an individual, known as the principal, to designate another person, referred to as the agent or attorney-in-fact, to make decisions on their behalf. This document is essential for managing a wide range of personal, financial, and healthcare affairs, particularly when the principal is incapacitated or otherwise unable to manage their own affairs. The objective of this post is to provide a detailed understanding of POAs, including the different types, their practical uses, and how to properly establish one to ensure your affairs are managed according to your wishes.

Basic Responsibilities of a Trustee

Estate planning is a crucial step in ensuring that your assets are managed and distributed according to your wishes after your passing. Without a comprehensive plan, your estate may be subjected to lengthy probate processes, legal disputes, and unintended tax consequences. Proper estate planning provides peace of mind by protecting your legacy and ensuring that your loved ones are cared for.

Do I Need a Trust?

Estate planning is a critical process that ensures your assets are managed and distributed according to your wishes after your death. It also addresses important decisions, such as appointing guardians for minor children. The two most common tools in estate planning are wills and trusts. While both serve to distribute your assets, they operate differently and offer distinct advantages.

How to Choose a Guardian for Your Children

Choosing a guardian for your children is one of the most important decisions you will make as a parent. This decision ensures that your children's well-being and future are secured, should you become incapacitated or pass away. Failing to select a guardian can have significant legal implications, potentially leading to court involvement where a judge, rather than you, decides who will care for your children. In this post, we will cover the key aspects of choosing a guardian, including the types of guardianships, essential factors to consider, and the necessary legal steps to take.

Schedule A Consultation Today

Legal Services

Estate Planning (includes Trusts, Wills, Powers of Attorney, Beneficiary Designations)

Business Planning (includes Demand Letters, Contracts, Business Formation, Governing Documents, LLC, Corporation, Partnership)

Open 9am to 6pm, Monday through Friday and 11am - 2pm on Saturday

710 Cooper Court, Suite 100 , Schaumburg IL 60173

(312) 880-9743

The content on this website is for informational purposes only and does not constitute legal advice. No attorney-client relationship is formed by accessing or using this site. The information provided may not be applicable in all situations and should not be acted upon without specific legal advice based on particular circumstances. Radadia Law, LLC does not guarantee or warrant the accuracy, completeness, adequacy or currency of any information on this website. Your use of this website does not create an attorney-client relationship and is not a substitute for obtaining legal counsel from a qualified attorney licensed in your state.