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Lombard estate planning lawyerUtilizing the Power of Attorney to manage what happens to your property is an important part of will, estate, and trust planning. Everyone has different needs and different circumstances when it comes to making arrangements for the handling of their possessions and accounts, but no matter how much or how little you own, it is helpful to know your belongings are protected and that your wishes are carried out.

The Purpose of Power of Attorney for Property in Illinois

The main purpose of the Power of Attorney in terms of property is to designate and grant a specific individual the authority to handle and make decisions regarding your various financial affairs. In the state of Illinois, this power allows that person (also referred to as an “agent”) to sell or dispose of your property, even without your consent. It also deems the agent right to make such decisions without giving you any advance notice. Ultimately, Power of Attorney is a tool that allows you to officially document and voice your wishes, how you do or do not want them carried out, and to whom you would like the power given to in the event that you cannot--or do not want to--make the final say on a financial matter.

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