3 New Year\’s Resolutions & the Great Cliff Compromise
On December 31, 2012 the United States Senate passed what I like to refer to as the “Great Cliff Compromise” and sent the bill to the House for its blessing. Knowing the House as being one of the most unpredictable entities within the U.S. government, speculation abounded as to whether the blessing would come or whether the bill would be cursed upon and sent back or rewritten in which case the Senate would curse it. However, for reasons that will likely remain with Representative House Leader Boehner and is compatriots, on January 1, 2013, the House voted for the Great Cliff Compromise. Now, many lawmakers, policy wonks, and concerned citizens don’t consider this so “great” or a “compromise.” They aren\’t seeing fireworks of the pretty, sparkly, ooo-ahhh, kind. Instead, they have visions of gray skies and storms in their heads. The disdain lies with the fact that spending cuts were not addressed, and neither was the debt ceiling. And it is the issue of spending cuts that causes as much, if not more, contention between Democrats and Republicans than increased taxes on the affluent. I’d love to see a poll on that one without “both” and “neither” being offered as a choice. Sorry, I digress… So the brow-furrowing continues because over the cliff we went, landed without too many bumps or bruises, but with another nosedive staring America in the face in two months. Still, the Shark Free Zone is most concerned, at least for now, with that part of the parachute involving estate planning. While both Congressional chambers have a lot of work to do to prevent the nosedive, the uncertainty surrounding the federal lifetime estate tax exemption is primarily gone. Some pieces about annual gifting and GSTT indexing must be ironed out but according to esteemed colleagues, they are “being worked on.” Therefore, the lifetime federal estate tax exemption remains at $5 million and indexed for inflation and the marginal rate of the excess of $5 million increased from 35% to 40%. If you were worried because you didn’t have a chance to gift your gazillion dollars away in 2012, you may have time… If you were concerned that you gave a bazillion dollars away but that, upon your death, your loved ones would still have to give more than half to Uncle Sam in taxes, you can relax, probably… BUT, if you’ve not done anything, such as downloaded a power of attorney and had it signed and notarized; confirmed life insurance designations weren’t minor children; or talked with family…even the most harmonious of U.S. Congresses won’t be able to help your loved ones. Not comparing myself to the likes of Biden or McConnell by any stretch of the imagination, may I suggest a few New Year’s Resolutions? Revisit your existing plan; or Create your plan; or Talk to your family about wanting a plan. You have at least 363 days to go…or until the next bipartisan Congressional vote decides to repeal the law and lower the tax rate…
6 Not-so-Legal Ways to Protect Your Family
It seems there\’s a week, day, or month to celebrate every relationship and, accordingly, the third week in October has been designated \”National Estate Planning Week.\” Why we, estate planners, have a week dedicated to our practice area may, at first glance, seem self-aggrandizing. Yet, estate planning isn’t about lawyers but estate planning is about how individuals can protect their loved ones. Lawyers and other professionals simply guide the way. So instead of calling this week “National Estate Planning Week” maybe we should call it “National Family Fortification Week,” hmmm… Then again, I was going to suggest “National Family Planning Week” but that, too, could have been very misleading. Well, as they say, “a rose by any other name…” Throughout The Lotus Rules (fka the Shark Free Zone) are pieces explaining why estate planning is for everyone and not only the 1 percenters, discussions on basic estate planning documents, analyses on historical and pending cases and legislation involving relationship rights, and scary stories about car crashes and funeral home terrorists. However, I think this is the first post on point for fortifying your family, so welcome. Take simple steps early. If you’re a working young adult with loved ones, then you need a plan to keep potential serious illness or untimely demise from causing your loved ones even more grief. Your plan could be as simple as Powers of Attorney and life, health, and disability insurances. Tell your loved ones that they are indeed loved: “Mom, I won’t let you mortgage the house to pay for my medical bills and, here’s the agent information for all of my insurances.” Tears will probably flow but they\’ll be happy, proud tears. Teach your children the important lessons about life and money early, e.g., age 6, exemplify for them that living a happy and productive life is the goal and money is one tool that can help them reach that goal. Tailor your goals for you and your family; you\’re unique. An estate plan isn’t a goal; it’s another tool. Still, some wrenches are better than others. The same thing applies with respect to estate plans. A good estate plan just doesn’t involve obtaining life insurance, throwing funds in a retirement account, and creating a will. Those are good steps, but before taking those steps consider who will be your trusted advisors. Who\’ll take the time to get to know you and your family, work the plan, helping guide you and your family along over the next few decades? Take your time. OK, so you didn’t start out when you should have and you haven’t taken any steps yet, but holy crap, someone very close to you just passed away and surviving are kids, a dog, a spouse and…you want to do something NOW! Don’t. Well, don’t make any rash decisions, interview a few attorneys, talk to a few friends, chat with a few financial planners, and after the pain of losing a loved one has lessened, then start building your team. It will likely save you tons of resources down the road. Trust your team. Because of the attorney-client privilege issue, loved ones are not typically part of the initial consultation, but sometimes, if they\’re the cornerstone of the family or if a family business is involved, perhaps they should be. Make the initial meeting a \”let\’s get acquainted\” team meeting loved ones and professional advisors can give each other the \”sniff test.\” Discuss the broad strokes: wanting to ensure that the family is protected, that everyone knows who the “team” is, and create a comfortable, collaborative environment. Then later you can meet or speak with the attorney one-on-one regarding specifics. Estate planning is a technical practice with many complex moving parts, but some fundamentals have nothing to do with instruments and everything to do with being a loving family member.
3 Traps to Avoid Wrapped in \”No Charge\”
There I was, sitting in a seminar, as my colleague began lecturing on powers of attorney. I was actually interested in hearing the next presentation on a more complex matter but, of course, you never know what nuggets can be gleaned from a refresher on the basics. Plus, Illinois laws change all the time. So I sat and appeared interested while deciding what to cook for dinner when suddenly another panelist blurted out quite fervently, “I disagree! A durable power of attorney is not better than a springing power of attorney!” My ears perked up; no one loves a good shark fight better than a little guppy like me. Somewhere in the annals of The Shark Free Zone is an article or 2 explaining POAs. However, as a refresher, powers of attorney are authorizations to allow others to make important decisions on your behalf when you’re incapacitated. Property POAs allow agents to make financial decisions. Healthcare POAs allow agents to make healthcare decisions. Individuals think because these documents are free that they’re simple. Well…let’s return to the shark fight. A durable POA goes into effect upon signing and lasts through incapacity until death. A springing POA has a designated beginning and ending, even though the agent signs the document. For example, the Illinois Statutory Power of Attorney forms suggest one designates a springing term to begin or end upon the determination of incapacity by a court. This suggestion shows why such basic forms aren’t so basic, even though free, and why they should be carefully reviewed before making the designations and taking the suggestions. Trap 1: Waiting until a court determination of incapacity in order to act under a property POA may result in financial mayhem if a loved one is too ill to pay the bills. Occasionally, individuals will say, “I don’t need a property POA because my child is also on my bank account with me.\” Trap 2: When a person is a joint owner on your bank account, that person’s creditor or creditors can place a lien or liens on the whole account. People also sometimes ask, “I have a living will, so do I really need a healthcare POA?\” If I were the smart-ass sixteen year-old I once was, then my answer would be, “Well, if the only time you want your agent to act is if there is a question about when to pull the plug, then no.” However, I am very far from being 16, thank goodness, and so I answer accordingly: A healthcare POA can include living will language and more. You can give you agent the authority to talk with doctors about your medical allergies, your medical history, and more. Trap 3: A living will only applies to individuals with terminal illnesses or who are in a vegetative state. A lot more can happen to one between a cold and a coma, and it helps you and your loved ones if you’re prepared for that “in-between-time.” Free doesn’t necessarily mean easy and suggestions are not rules.
With this Ring, I Don\’t Civil Union or Wed
Several articles on The Shark Free Zone discuss challenges married or Civil Union couples face. However, their challenges, especially in terms of planning and protecting their families, are minimal compared to cohabiting couples. And before I continue, let me say that not wanting to subject your relationship to institutional constraints is understandable. With the divorce rate in the U.S. between 40-60%, whether you’re a same-sex couple or a straight couple who consciously decides against obtaining legal status for your relationship, your decision ultimately may be more pragmatic. I’m thinking Kurt and Goldie. However, the decision to cohabit will currently cost you and your partner more than 1100 state and federal government benefits. The decoupling of these benefits from cohabiting couples results in the above-mentioned challenges. Nevertheless, planning tools exist that are universally applicable, irrespective of your relationship status, tools such as powers of attorney, certain types of life insurance, and certain retirement accounts. Additionally, you and your partner can take other definitive steps to protect your relationship. Furthermore, these steps, which are gender-neutral, can help your family today and tomorrow. Prepare A Property Sharing Agreement. One of my favorite TV shows is The Big Bang Theory and, admittedly though Leonard tugs at my heartstrings and I LOL at Raj and Howard’s “bromance,” I identify most closely with Sheldon. Sheldon has a roommate agreement that probably puts most prenupts to shame. Among some of its provisions, is an outline of who owns what, how the asset should be replaced if the other party destroys it, and how property bought together, such as a life-size authentic Time Machine, should be divided if the relationship ceases and one roomie moves out. The cohabiting relationships I’m discussing in this article are, of course, more substantive than roommates, but the premise is the same: list what you own together and separately and acknowledge it on a legally signed document. Seek Adoption. If one of you is a biological parent with sole custody of the child, a second-parent adoption by your partner, if he or she is a non-biological parent, is critical. Otherwise that person will have no legal rights if the biological parent becomes incapacitated, dies, or decides to end the relationship. Trust the Trust. Both of you place your express intentions in a valid trust. A will can be challenged and the gender composite of your relationship is irrelevant. Nasty courtroom battles have occurred between family members who opposed the surviving partner’s share because of religion, age, or other cultural reasons that had nothing to do with the couple’s gender orientation. In a nutshell, what must a couple do to protect their non-institutionalized relationship? Document the sharing and put all agreements in a valid contract whose benefits aren’t derived from or through federal, state, or local governments. Other than that, enjoy your loving and stable family just like everyone else enjoys theirs. In the words of Tommy Llewellyn-Thomas: Noli spurios te contundere.
5 Key Blocks for the Build-A-Baby Life Stage
Helping new families through my practice is one of the great benefits of my job. It soothes my soul because I know the family will be protected sooner rather than later and we will all sleep better, though the infants rarely have a tough time sleeping soundly. However, becoming a new parent isn’t always easy. The gamete meeting sometimes just doesn’t take place as soon as we want it to; sometimes our gametes just don’t want to meet at all. On these occasions, Artificial Reproductive Technology (ART) can play a very important role. However, ART can be costly, financially and emotionally. I was on a panel with Lambda Legal a few months ago and an audience member referred to the financial program designed by his company to help parents with this issue as the “Build-A-Baby” program. This particular department helped couples design their financial planning so they could afford ART, which can cost thousands of dollars per month and when you factor in particular types of adoptions, the final costs can be hundreds of thousands of dollars. And, as mentioned, that’s just the financial burden. The emotional burden of waiting and hoping is equally heavy, if not heavier. As opposed to ART, either parent or both parents can take an alternative route and adopt. Still, just as with ART and as above sometimes including ART, adoption can be costly and is always emotionally burdensome. Consequently, it is critical that parents understand how they can protect each other and their families at the very beginning, even, sometimes, before the birth occurs. Another panel I was on recently described it as “Building Your Family Fortress.” The following are the cornerstones for today\’s family, whether you use ART, adopt, or your gametes meet the old-fashioned way: Obtain life insurance that will at least replace the primary wage-earner’s salary for 3-5 years. Have powers of attorney – healthcare and property (what some states refer to as including “advanced directives”) prepared for both parents. Free drafts of Illinois powers of attorney are available here. If you’re a same-sex couple, be sure if one of you is the biological parent, then the other adopts the child. The U.S. is still a patchwork of states, some recognizing your legal rights in a Civil Union or same-sex marriage, and others not. The same applies for straight couples who are not married and one parent is the biological parent. If you’re using ART with an unknown donor, the parent carrying the child should designate the other parent as a short-term guardian to go into effect at some point in time until the adoption is complete. Obtain valid wills, irrespective of the gender-orientation of your relationship because you need to ensure that the guardian of your child is who you want the guardian to be in the case of your death. For straight couples, it is critical that you name a successor guardian. Other blocks can also be used, but these 5 bricks represent the cornerstones of a solid fortress that will protect your family now and in the future.
5 Ways to Protect 4 Critical Relationships
As mentioned in a previous post, once an adult starts working and accumulating assets, even if they’re simply a car and nice living room furniture, he or she also needs to start protecting their livelihood. The same holds twice as true for young couples.* Couples sometimes erroneously believe that they don’t need to protect themselves or their relationship until they get married, enter into a Civil Union, or have children. However, just like working single adults need protection, so do “young” couples. Therefore, once a decision to reside in one household as a loving and committed couple is made, the documents previously discussed – powers of attorney and life insurance – should be revisited to reflect this relationship. Moreover, depending on the legal status of the relationship, or the lack thereof, legally documenting your agreement about your assets is very important. For example, in Illinois, if you’re cohabiting, your relationship lacks legal recognition except by contract. Therefore, an agreement to share expenses and property is the bare minimum of what is required to at least document your relationship and its affect on your assets. Additionally, ensuring your testamentary documents – a valid will and trust – reflect your intentions toward your partner and the rest of your family is equally important. If a cohabiting partner dies intestate (without a will), unlike the surviving partner in a Civil Union or legally married couple, the surviving cohabiting partner will have no rights under Illinois laws. However, the next of kin to the deceased will have rights. Therefore, unless a document, such a shared expense and property agreement, is in place with mounds of receipts and statements providing supporting evidence of the agreement, the surviving partner will have no way of retaining assets that were obtained as a couple. Still, even with this agreement in place, the decedent’s relatives may still challenge by asserting their rights to inheritance under Illinois’ intestacy laws. Thus, to prevent a possible brouhaha, it’s advisable to have at least a valid will prepared, designating your partner as a beneficiary. But remember, because a will is public – see Whitney Houston’s will – your family gets to see who gets what. And if you have an evil twin who doesn’t like what he or she sees, the brouhaha will not be averted. So then what? You might have a revocable living trust prepared. Trusts are private – you can’t see what Michael Jackson left – and become irrevocable upon the grantor’s (trust maker’s) death. Civil Union and legally married couples are more fortunate than cohabiting couples with a caveat for Civil Union couples. The right to inherit and renounce bequests are generally universal rights for spouses through the U.S. and Civil Union couples typically have all the rights of spouses. However, Civil Union couples are not recognized in all states, so spousal rights are not available, placing them in the same position as cohabiting partners in unfriendly states. So for couples without children and without consideration for probate proceedings, the most basic ways to protect your relationships may resemble this:
5 Reasons Why You\’re Not too Young to Save a Goldfish
It’s hard to believe that summer fun is nearly over and soon laser focus will target the school year, getting those year-end business deals done, and dare I say – holiday planning. Over the summer, my newsletter introduced topics on planning and I’ll end the summer with articles on estate planning for the various life stages. Also, joining me as a guest blogger this month will be a well-respected attorney and colleague, so stay tuned. Now, onto the first life stage where estate planning matters: Young adult working singles. Many people ask, “Why would a young person gainfully employed, but a young single adult nonetheless need estate planning?” The answer is for the same reason older adults need it – to protect themselves and their families, e.g., their parents. Christopher’s Yarn After college graduation, Christopher was offered an entry level position at the company for which he worked part-time while in college. His starting salary didn’t approach 6 figures, but was sufficient to afford him a nice apartment. So he moved out of his mom’s home after about 7 months of work and rented a place with a roommate, Alex. Since Chris telecommuted a couple of days a week, he also had a well-equipped home office. One day, the weather forecast was gloomy, so Chris decided to work from home. He was glad he did because early that afternoon a severe thunderstorm started raging. Chris was number crunching on a report that was due that evening when suddenly his computer froze; the cursor wouldn’t move; control-alt-delete wouldn’t work. Chris bent down and flipped the switch on the power strip and ZAP! That evening when his boss didn’t get the report, she e-mailed Chris and waited for a response. When there was no word from Chris the next morning and he didn’t show up for work, his boss phoned HR. HR tried phoning him but kept getting his voicemail. Later that afternoon, Alex returned home from spending the night at a friend’s. He unlocked the door and saw Chris sprawled across the floor of his home office. Chris’ mother was a single parent who worked 2 jobs to help Chris through college. After he moved out, she quit one job and took a long vacation with a friend in Mexico. Alex had her phone number but couldn’t get through. The only other relative Chris mentioned was an older brother who Chris said couldn’t be trusted to watch a goldfish. Alex called the medics but was stunned. Chris had no healthcare powers of attorney, no property powers of attorney, no life insurance, no will, and an irresponsible brother. He and Alex only met a few months ago, so Alex didn’t know his medical history. Whether Chris survived or not, I can’t say for sure, but upon his employment for 6 months, I would have given Chris the following 5 tips: You can authorize a successor agent under a healthcare power of attorney, who can make healthcare decisions on your behalf if you become incapacitated. Renter’s insurance is very helpful if you telecommute; perhaps not against lightning strikes, but definitely against thieves. A property power of attorney can authorize someone other than an irresponsible brother to manage your bank account and bills while you’re hospitalized. Life insurance will help your mom pay for your services so she won’t have to struggle financially. A will allows you to ensure that your irresponsible brother doesn’t get the goldfish. If you think you’re too young for an estate plan, think again before it storms.
Debunking Estate Planning Myths & Developing Wealth, Pt 1
Recently, I spoke at Chicago State University and this is the first of 3 key points I made during our lively and enjoyable discussion. Let\’s start with some MYTH BUSTING! Estate planning isn\’t just about planning for death; it is also about planning for today and retirement. Estate planning isn’t just for the uber rich; it’s about protecting your personal and financial interests, whatever it is you value personally above money and however much money you have. So how exactly does basic estate planning protect you and your loved ones today and in the future? Basic estate planning tools are powers of attorney, wills, and life insurance. A power of attorney is a legal document that authorizes you (the \”agent\”) to step into the shoes of someone else (the \”principal\”) and make decisions on their behalf. These authorizations typically last until the principal\’s death, but can be used temporarily, for example, if the principal is going on a lengthy sabbatical. Illinois provides two types of statutory powers of attorney: property power of attorney and healthcare power of attorney. A property power of attorney provides the agent with the necessary authority to make financial decisions on the principal\’s behalf and, similarly, a healthcare power of attorney provides the agent with the necessary authority to make healthcare decisions on the principal\’s behalf. You should also know that the principal can design these powers to be as broad or as narrow as possible. For example, an agent with a property power of attorney may have authority to pay the mortgage but not to sell the house. Powers of attorney are critical documents for single and retiring individuals, especially healthcare powers of attorney because normally doctors assume the spouse has a power of attorney. However, if you have no spouse and you have not delegated anyone with the authority to make healthcare decisions for you whether the decisions involve the need for life-threatening or routine procedures, you will have to make the decision while in the medical treatment facility or hospital or, if you are incapacitated, a family member or hospital staff member will make the decision for you, and that’s not the time for one to be making such decisions! We’ve all heard the stories about fights between family members at the bank or in the intensive care unit when their loved one hasn’t made arrangements for illnesses and hospital stays, however temporary or long-term. By simply by taking the time to think of a few trusted people, you can create a sense of family accord in your family and allow you and them to focus on well-being and not who’s in charge of what. And remember, powers of attorney only last until death, which means they protect you and yours today. Question: My wife and I are legally separated. Should I wait until the divorce is finalized before I change my healthcare power of attorney? Answer: Do you want your soon to be ex-spouse making healthcare decisions on your behalf before your divorce is final? Part 1 | 2 | 3 | 4 | 5
Estate Planning that Keeps the Caregiver Out of Jail
Recent news stories abound about individuals who were caregivers for aging loved ones, and found themselves in court because they cared too much…about the loved ones’ bank accounts. But we really don’t need to go online or read the papers to hear about Aunt Abby’s favorite nephew, Jonathan, who changed the beneficiary designations on all of his aunt\’s retirement accounts and life insurance policies, naming Jonathan as the single beneficiary. Sometimes family members who spend significant time as the sole or primary caregiver are resentful and feel entitled to the funds because they sacrificed their careers or lifestyles to ensure the dearly departed’s final years or months were comfortable. On other occasions, family members are just plain old everyday crooks. Then on rare occasions, we have the family murderer. To prevent family members who were or will be primary caregivers from feeling resentful and taking nefarious steps toward their “fair share,” perhaps a family meeting should be held once the loved one at issue passes a golden or silver milestone. The meeting should cover 3 primary stages: (1) current living, (2) future living, and (3) postmortem needs. The agenda should also review needed resources and arrangements and pre-existing arrangements: money, physical assistance, companionship, time, estate planning documents, government benefits, and insurance, for example. Once the family determines the relevant needs for the appropriate stages, family could decide together who among its members is willing, able, and competent to manage the tasks and which resources could make tasks more manageable. Furthermore, if one person becomes a primary caregiver, the family should also determine how much that person should expect as compensation from the family and/or the loved one for his or her efforts. Maybe the loved one is disabled too, requiring even more assistance from the family caregiver. Individuals hear this and often say, “But this is family. You shouldn’t have to be paid to take care of your elders. After all…” Well, that is typically said before those individuals have helped elders out of bed, into the bathtub, driven them to and from, prepared their meals, and cleaned their homes. Example: Uncle Teddy is 78 years old. He lives in a 2 bedroom apartment he adores. The building has all of the amenities one really needs – cleaners, laundry, small supermarket, parking, doorman, and even a “wellness checker.” Uncle Frank has 2 children: a daughter who is a single parent with a high school teenager and another child in college, and a son who’s married, without children, and lives in a nearby state. Uncle Teddy’s siblings and parents are dead. However, he has a favorite niece, Martha, who visits him monthly and phones weekly. Uncle Teddy is fiercely independent but his health is declining. Currently, he performs most of his errands, cooks, and drives himself to the doctor. A cleaning person comes in once weekly. He also has life insurance, a will, and Martha as an authorized user on his primary checking account. In a year or 2, Uncle Frank’s mobility will dramatically decrease. However, will still need bills paid, meals prepared, personal grooming, and doctor visits. When he passes away, memorial services will need planning and implementing, his estate will need administering, and before that, his apartment will need cleaning and inventorying. There’s something for every family member to do to help Uncle Teddy now and then. Powers of attorney could also help currently and in the near future. Now, for family members who want to skip stage 2 and help the loved one to the post-mortem stage, like many states, Illinois has a “slayer statute” where family murderers can’t inherit the family home.
A Living Will? Think Again…
In a recent newsletter, I briefly tried to take readers through the legalese maze used to discuss documents that give a person authority to make healthcare decisions for someone else. Because these documents are typically – and should be – signed before the need to make the decision arises, they’re often called, “advanced directives,” “healthcare directives,” or “healthcare proxies.” No such terms are used to identify these documents in Illinois. Confused yet? Here in the Land of Lincoln, the 2 main “healthcare directives” are a “Living Will,” which is based on the Illinois Living Will Act, and the Healthcare Power of Attorney (“HCPOA”), which falls under the Illinois power of Attorney Act. 755 ILCS 35 et seq., 45/4 et seq. (2011). People often confuse a Living Will with a Living Trust because we hear the term “will” and automatically assume the term has something to do with property. However, a Living Will has nothing to do with property, unless you consider your life property. Then again, our organs, tissues, blood, and so forth are defined as property under certain legal circumstances, but that’s not relevant here. A Living Will is a document that can authorize one person to make the decision for another person to prohibit or stop death-delaying procedures when the decision involves terminal illness. 755 ILCS 35/3(d). A Living Will requires the principal (person providing the authority) to be of “sound mind” and “willfully and voluntarily” execute the document. This means they have to know what they’re signing and be doing it of their own accord. Additionally, the document only applies where the principal has an “incurable and irreversible injury, disease, or illness judged to be a terminal condition … by an attending physician.” 35/3. A Living Will is primarily a “do not resuscitate” or “don’t keep alive by artificial means” declaration and requires not only the principal’s signature but also the signature of 2 witnesses. The other primary healthcare directive is the Illinois Healthcare Power of Attorney,which gives much broader authority than a Living Will and, ironically, only requires one witness. The HCPOA, like a Living Will, allows a person to delegate decision making about healthcare matters to another person (an “agent”). Those decisions can be not only about basic healthcare treatments, but also can “include, without limitation, all powers … to consent to or refuse or withdraw [from] any type of healthcare.” 755 ILCS 45/4-3. The law defines healthcare as including “any care, treatment, service, or procedure” used to sustain or cease a death-delaying measure. 45/4-10. Therefore, the HCPOA provides the same powers – and more – as a Living Will. So why have a Living Will? Good question. Often, the legislature passes a law that gives more authority and flexibility to those who will use it but doesn’t repeal the old law. This happens to be one of those cases: the Living Will as written in the law did not have a space for the name of the authorized agent or successor agent. It’s also why, if you reside in Illinois, you might want to execute an HCPOA instead of a Living Will.