Legal Question in Elder Law in Illinois

Power of Attorney

I have power of attorney fora Cousin who lives in IL,I live in Wi.his Lawyer told me,when he dies all his Assets will be frozen,but he wants his fee up frontI will have to pay him out my Pocketuntil his Estate is settled,then I will get my Money back,what if there is no Money left,he is in a Nursing Home now,his Money is in his Name exept the Checking Acct,it is in his and mine,I am worried about this,can I open a Acct only in my Name so there is Money avaiable to Pay his Bills until his Estate is Settled??If he lives 4 Years all his Cash will be used up by the Nursing Home,What is the best way in this matter

Thank You


Asked on 10/30/07, 3:17 pm

2 Answers from Attorneys
George Zuganelis Zuganelis & Zuganelis, Attorneys at Law, P.C.

Re: Power of Attorney

Please follow the advice of the previous attorney. Also note that the power of attorney dies when your cousin dies. Then the probate laws take over.

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Answered on 10/31/07, 12:00 pm
Joseph Michelotti Michelotti & Associates, Ltd.

Re: Power of Attorney

If you have the power to gift in your power of attorney, there is a way you can transfer assets. It is fairly complicated, but if you are going to transfer assets you need to do it right away (the law will be changing soon)

email or call me if you have any questions

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Answered on 10/30/07, 5:46 pm


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