Blog

By Ann M. Fischer

It is more important than ever to have powers of attorney (POA) in place for your finances and for your health care. There are many cases where people find themselves suffering financial consequences because they did not prepare a POA before an event occurred that rendered them incapable of handling their affairs.

In Illinois, for example, if you contract to sell your home or to purchase a home and you were hospitalized or had to quarantine due to COVID-19, you may have to delay your closing, which could have several financial repercussions. You may have to pay a per diem for not vacating the property on time, or as the buyer, you may have to pay to extend your rate lock. If you have a power of attorney in place prior to falling ill, then the person you have appointed can sign the necessary documents on your behalf in a timely manner.

Another concern is for people that do not have a healthcare power of attorney in place. Everyone has heard the stories of how quickly people become severely ill and require hospitalization from COVID-19, and about multiple family member failing ill at the same time. If you have a power of attorney for health care, you should also name a successor agent to act for you in the event the primary agent is unavailable. It is also a good idea to speak with the person you are naming as an agent regarding your wishes if you want to be put on life support or a ventilator. If it is not clear who will make your health care decisions, your family members may be arguing about treatment options. 

If someone is determined to be mentally incapable to manage their own affairs, and they have not put a POA in place prior to the diagnosis, the family will have to petition the court to appoint someone as guardian. The processes of being appointed guardian of a disabled person can be costly and time consuming because the court has to assess the situation and decide who will be making decisions for the incapacitated person. If the incapacitated person set up a POA, the court is not involved in the processes and the agent can act for the principal.

If you have questions about POAs or other estate plans, feel free to contact Gardi, Haught, Fischer & Bhosale LTD and we can help to guide you.

Client Testimonials

Jimmy Su

We just had great experience with Tom Haught and his paralegal Courtney Kropf. The communication is clear and fast. All emails were replied within 30 minutes. We will definitely work with Tom Haught again.

Sagar Kanabar

Jeannette Gonzales

Was recommended to them from my company. They did an excellent job and always answered all my questions. Were always upfront with all things and made sure I understood everything that was explained to me.

Ardus

We used the law firm during the sale of our house. We dealt with Mr Haught and Courtney, who made the process very smooth. They were professional, yet very friendly to deal with.I would not hesitate to recommend them to my family and friends.

vanissa colaco

Our immigration experience with Ann Fischer has been amazing! She has been meticulous, organized and worked on our case in a timely manner. Ann and her team went above and beyond to address all of our concerns and provide a personalized support which made a significant difference during our stressful time.I highly recommend her services to anyone seeking legal representation for their immigration matters.

Mike and Keeley Aulert

We have used Tom Haught for two home purchases and one sale over the years and continue to be impressed by his professionalism, responsiveness, and thoroughness. Reasonable pricing too. Highly, highly recommended.

Waseem Chaudhry

Gardi, Haught is one of professional firm, I have been with G&H since last 8 years in all legal matters.RegardsWaseem Chaudhry

Khurram Ghani

Tom and his dedicated crew recently helped me close on a commercial property, and I must say they did an exceptional job! Throughout the entire process, they were incredibly responsive, attentive to detail, and a pleasure to work with. Their professionalism and expertise made the transaction smooth and efficient. I am thoroughly impressed with their performance and definitely plan to work with them again in the near future. I highly recommend Tom and his team for anyone in need of real estate services!

Ryan B

I'd like to thank Gardi, Haught, Fischer, & Bhosale LTD and the whole Team! For amazing service. They made my selling experience fast, easy and at my convenience. I'm very thankful for the whole team over there. Their service meant alot to me and will be using them in the future. 10/10 !

Roberta Murphy

We worked with Tom and Courtney mainly on our recent closing. While it did not go as planned (all the other side’s issues) they did a great job keeping us informed and in track. Highly recommend.

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