Legal Developments and Timely Topics

Article submitted by Marc D. Sherman & Associates, P.C. of Lincolnwood, Illinois.
For more information, he can be reached at 847-674-8756.

Living Wills And Powers Of Attorneys
A recent case in Florida highlighted for many clients the emotional and legal issues related to a person's desire not to be maintained alive using extraordinary measures. Beware of lawyers jumping on the bandwagon advertising Living Wills as the ultimate protection. The Illinois legislature has authorized a tool that can be as useful, if not more powerful, than the Living Will.

With a Power Of Attorney For Healthcare (POA), or "Durable Power of Attorney," the client appoints an Agent (and successors) who will act for the client in the event that they are unable to make healthcare-related decisions. On the other hand, Living Wills are only applicable if the client has a "terminal condition," and do not indicate who will be making the decision. In fact, the POA is frequently more useful because it permits the Agent to stop water and tube feeding, if that is the client's wish, whereas the Living Will does not allow such action if it would be the only cause of the client's death.

Clients looking for the best means to provide direction to their family and physicians should look at a POA.

Fair Credit Reporting Act Amendments
A review of your credit report, at least annually, can be an important part of monitoring your overall financial health. Credit history is not just important for loan applications, it can be a crucial part of your effort to stop identity fraud.

Effective 3-1-05, the federal Fair Credit Reporting Act, recently amended, guarantees you can receive one free credit report at least every 12 months from each of the major credit reporting agencies: Equifax, Experian and TransUnion. If you discover inaccuracies in the report you can argue for their correction or removal.

Obtain your annual credit report copy by contacting Equifax at PO Box 740241, Atlanta, GA 30374-0241; Experian at PO Box 2104, Allen, TX 75013; and TransUnion at PO Box 1000, Chester, PA 19022.