Page 20 - May 2020

You deserve backup, and so does your family
If anything good comes out of the situation we are in right now, it is the well-deserved and long-overdue respect for first responders and appreciation for police officers.
Here is a quick review of the importance of living trusts and power of attorney documents:
I believe that one enduring benefit of this time is that we are looking out for one another, more than we may ever have been. Whether it be our family, friends, neighbors or people in the community, life
Health care power of attorney
Your agent will have broad powers to act for you, in- cluding the following:
TOM TUOHY
can get in the way of checking up on people and finding
out what we have to give that might make their lives a little bit easier.
You are on the front lines, dealing with the stress of either becoming sick or bringing something home to your family. That is enough to deal with, along with what you face every day on the job. You certainly shouldn’t have to worry about whether someone can legally step in and take care of your medical decisions, if necessary, or sign your name on finan- cial documents and transactions. That need occurs suddenly. Without the required power of attorney documents in place, it can be chaos and needless worry and expense.
Virtual delivery
Here is what I will do for you. If you do not have current health care or financial power of attorney documents, I will give them to you for free and will provide the required nota- ry and two witnesses at no cost. And, under the new Illinois rules, we will do it all virtually, while you are safe at home.
Additionally, I will continue to offer you and your family members 50 percent reduced fees for an entire living trust es- tate plan, and we can also complete that process virtually from your home. If you are retired, this 50 percent offer is available to you and your family members as well. If you have elderly parents, consider their current situation and how you might guide them through this process at home, or in our office.
Of course, working or retired, you are welcome to complete the signing process in our offices, as attorneys are considered essential employees under the current Illinois stay-at-home order. If the order is still in place when you are reading this, we will adhere to strict CDC guidelines. For your protection and that of our staff, we will have only three staff members in the office on the day of your appointment.
• You will be the only client that we see that day.
• We will follow the safe distance guidelines and provide
hand sanitizer when you arrive and as you leave.
• The conference room where we meet will be sanitized be-
fore your arrival, as will all common areas.
• We will provide a free parking space for you in the lot be-
hind our building.
• There will be very few people, if any, in the building com-
mon areas or elevators during the time of the stay-at-
home order.
Even after the expiration of the stay-at-home order, we will
take every necessary precaution to ensure your health and safety.
•
FOP
Benefits Plan
• deciding the medical treatment given to you
• admitting or discharging you to a hospital, home
or another facility
making end-of-life decisions, including the discon-
•
•
nection of life support
authorizing an autopsy or donation of your body to medical research and or organ donations
carrying out your final plans and wishes.
Financial power of attorney
Your agent will have broad powers, including:
• buying or selling real estate or other property
• accessing bank accounts, credit cards, U.S. mail and so-
cial media accounts
• paying bills
• contributing to or withdrawing from a retirement plan • dealing with any type of insurance or annuity policy
• handling tax issues
• buying and sellling stocks
• controlling safe deposit boxes
• hiring a lawyer to file or defend lawsuits
• borrowing money and mortgaging property
• handling an estate
• managing disability, unemployment, Medicaid and
military benefits.
Living trusts
At the end of your life, or if you become incapacitated, if you have property or bank accounts in your name, they are at risk of probate.
• A will must be probated. The rule is that no one can le- gally sign your name. Therefore, at your death or inca- pacity, all assets in your name are subject to the full pro- bate process, which averages 18 months and is costly.
• A living trust completely avoids probate.
• A living trust estate plan includes both health care
and financial power of attorney documents and a last will and testament for guardianship of minor children and to “pour over” any assets still in your name at your death, out of probate.
Call my office today to lock in your FOP 50 percent reduced rate for a living trust. Registration in the Benefits Plan for FOP members and family is free. Visit www.fopbenefitsplan.com or call 866-729-5454 for assistance with registering.
Tom Tuohy is the founder of Tuohy Law Offices and the FOP Benefits Plan. He has been a police lawyer for 37 years. His fa- ther was a CPD detective, and his grandfather was CPD Chief of Major Investigations. You can reach Tom at 312-559-8400.
20 CHICAGO LODGE 7 ■ MAY 2020