Incapacity Planning in Illinois

 Posted on June 28,2024 in Estate Planning

Although no one can predict the future, there are several ways to try to plan for what it might bring. Whether you have children, a robust estate, lucrative assets, or not, it is always a good idea to try to plan today for what could happen tomorrow. One of the possibilities to consider is that you might not always have the same level of physical or mental capacity that you do now. Incapacity planning is a very important component of estate planning that addresses how decisions will be made for someone who can no longer make them for himself due to physical or mental limitations. If this is of interest to you, speak with a skilled Barrington, IL estate planning attorney who can help explain what is involved and guide you as you formulate your plans.

Key Elements of Incapacity Planning

There are many aspects of incapacity planning that stem from the attempt to plan for any eventuality in the future. These aspects of estate planning include:

• Power of attorney: This legal document designates someone you trust, known as the agent or attorney-in-fact, to manage your affairs on your behalf if you cannot do so yourself. The two main issues a power of attorney might address are property and healthcare.
• Living will: This document gives you a chance to list your preferences for medical treatment and end-of-life care in advance. While you still have all your faculties, you can write out how you would want these decisions to be made once you lack the capacity to make them for yourself. This legally binding document often includes your wishes related to life-sustaining interventions like feeding tubes or ventilators, should it become relevant.
• Guardianship: If you have not arranged for either of the abovementioned aspects, you might be required by law to have a court-appointed guardian manage your affairs. Proceedings to establish guardianship can take a lot of time and money, and you might end up with someone you do not trust and who does not have your preferences or best interests at heart making decisions on your behalf. This can be avoided if you conduct proper incapacity planning, which would designate people and leave them clear instructions for how decisions should be made for you.

Contact an Illinois Incapacity Planning Attorney

Incapacity planning can have many benefits: it can help reduce family conflict, protect your assets, and eliminate confusion over what decisions should be made in the future. A qualified Barrington, IL estate planning lawyer can offer invaluable guidance. At Lucas Law, we understand how difficult it can be to contemplate a future where you cannot make decisions for yourself. We also know how important and beneficial this planning can be. Call us at 847-381-8700 so we can help navigate you through the process.