Kerry Peck of Peck Bloom, LLC (litigation attorneys in Chicago) recently helped draft new state guidelines to help caregivers manage their loved ones finances. Peck is among the top attorneys in Chicago on the subject of elder law.
Online PR News – 12-December-2013 –Caregivers in Illinois have a little more help managing their wards' affairs thanks to Kerry Peck of Peck Bloom, LLC. An leading lawyer on elder law in Chicago, Peck recently helped the State of Illinois and the Consumer Financial Protection Bureau develop booklets to help fiduciaries carry out their duties and responsibilities in managing money for a family member or friend.
Four booklets were released to help fiduciaries operating under:
Powers of Attorney
Court Appointed Guardians
“I recommend that anyone who is in a fiduciary situation to take a look at these booklets. They are written in plain language and provide a quick, at-a-glance resource to understanding fiduciary duties. It's very important that caregivers know what they can and cannot do in their role from a legal perspective and these booklets help them learn exactly that.”
All four booklets can be downloaded for free on the Consumer Financial Protection Bureau website at: consumerfinance.gov/managing-someone-elses-money. The booklets for the state of Illinois should be available in 2014.
"More and more people are finding themselves in charge of someone else's finances, whether that is an aged parent or relative or a trusted friend. The problem is, not everyone has the knowledge or experience to step right in and start managing those affairs. These booklets were designed to help that group of people. They will help fiduciaries understand their duties and guide them through the process of managing someone else's money. They can help fiduciaries identify common scams and explain what to do if they've been victimized by financial exploitation and they provide resources for getting help with their fiduciary duties," explained Kerry R. Peck, managing partner of Peck Bloom, LLC (www.peckbloom.com).
Starting with the basics of "What is a fiduciary?", each guide covers the duties of a fiduciary and then delves into the specific requirements of each type of fiduciary arrangement. Each guide also covers how to work with elder care professionals such as estate attorneys in Chicago as well as where to turn for additional help in performing the necessary duties.
"I recommend that anyone who is in a fiduciary situation to take a look at these booklets. They are written in plain language and provide a quick, at-a-glance resource to understanding fiduciary duties. It's very important that caregivers know what they can and cannot do in their role from a legal perspective and these booklets help them learn exactly that," said Peck.
Peck Bloom, LLC provides legal services encompassing all areas of elder law in Illinois including guardianships, trust, probate, wills, estate and special needs planning. The firm can also provide a litigation attorney in Chicago for cases that need it. Peck Bloom,LLCs attorneys are active in the state and local bar associations, support many civic groups and are regular speakers at seminars, events and colleges and universities.
Learn more about Peck Bloom, LLC by visiting their website at www.peckbloom.com.
About Peck Bloom, LLC:
Peck Bloom, LLC (http://www.peckbloom.com) is a boutique Chicago law firm that provides excellent representation in a variety of areas including probate litigation, guardianship litigation, trust litigation, administration of estates and trusts, elder law, estate planning, asset protection, corporate law, tax law, litigation attorney services, and special needs planning.