• Home

  • Home
  • About John
  • Estate Planning 101
  • Blog
  • Testimonials
  • Contact

A Decrease font size. A Reset font size. A Increase font size.

Menu
  • Home
  • About John
  • Estate Planning 101
  • Blog
  • Testimonials
  • Contact
  • Estate Planning 101: Powers of Attorney for Property.

    A Power of Attorney for Property is an important estate planning tool. It allows your designated agent to make financial decisions for you. A Power for Attorney for Property can be used in conjunction with a Revocable Trust. If you become disabled, but you haven’t had a chance to transfer your properties into your Trust, your agent can transfer your assets to your Trust for you. Thereafter, your property will be managed by your successor trustee.

    A Power of Attorney for Property can also be helpful if you are disabled and you have chosen not to create a Revocable Trust. In that situation, the Power of Attorney can be used to make some fundamental choices for you.

    However, there are certain disadvantages with Powers of Attorney. Undoubtedly, you’ve seen news reports about how someone tricked an elderly widow and stole her home and bank accounts from her. In almost every case, the widow signed over control of her property when she signed a Power of Attorney. As a consequence, many banks and institutions are reluctant to honor a Power of Attorney for Property. In many situations, they require that their own special form be used if they are unfamiliar with the parties.

    Although a Power of Attorney for Property can be helpful, in most cases it does not replace the more widely accepted Revocable Trust during times of incapacity.

    Print Friendly, PDF & EmailPrint Friendly

  • Revocable Living Trusts.
    Controlling Medical Decisions.

    Lessons in Estate Planning 101:

    1. What is Estate Planning?
    2. Objectives of Estate Planning.
    3. When is Estate Planning Important?
    4. Does Everyone Need Estate Planning?
    5. When Should I Do My Estate Planning?
    6. What’s Included in My Estate?
    7. What is Probate?
    8. Common Estate Plans.
    9. The Problems with Doing Nothing.
    10. The Problems with Joint Ownership.
    11. The Problems with Giving Away Assets.
    12. The Problems with Beneficiary Transfers.
    13. The Advantages of a Will.
    14. Revocable Living Trusts.
    15. Powers of Attorney for Property.
    16. Controlling Medical Decisions.
    17. Estate and Gift Taxes.
    18. Ways to Reduce Your Estate Taxes

Contact John

30+ Years Experience.
Personal Planning.
Plain English.

Committed to simplifying your estate planning. Let's work together to achieve your
peace of mind.

John Varde, Attorney
180 North LaSalle, Suite 2650
Chicago, Illinois 60601

312-372-1880

Contact John

Get Started Today

If you’re ready to take the next step, download the free Confidential Estate Planning Questionnaire

Download Free Questionnaire

Browse by Category

  • Advance Care Directives
  • Estate Planning
  • Estate Planning 101
  • IRAs
  • Power of Attorney
  • Uncategorized

Familyffffff.small

John Varde, Attorney
180 N LaSalle St.
Suite 2650
Chicago, Illinois 60601
312-372-1880

Disclaimer    

Privacy Policy

Copyright © 2010-2018 John M. Varde, P.C.