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Power of Attorney
Thursday, April 15, 2021
Approximately 600,000 people go missing in the United States each year.[1] The loved ones who are left behind must carry not only heavy emotional burdens but significant practical burdens too. People who go missing often leave behind real estate and personal property, debts and ongoing bills, insurance premium payments, employment or business concerns, pets, family support obligations, and more. But if someone is missing, and it is uncertain when or if they will ever return, these practical issues must be addressed at some point to prevent them from becoming even more burdensome in the future.
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Monday, February 15, 2021
In 2008, Congress recognized the need for the public to understand the importance and benefits of estate planning by passing House Resolution 1499, which designated the third week of October as National Estate Planning Awareness Week. Nevertheless, according to a 2019 survey carried out by Caring.com, 57% of adults in the United States have not prepared any estate planning documents such as a will or trust despite the fact that 76% viewed them as important. Many of the respondents said this was due to procrastination, while many others mistakenly believed that it was not necessary because they did not have many assets.
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Friday, February 5, 2021
With our society becoming increasingly mobile and international travel becoming more affordable than ever before, families and family-like relationships have steadily grown far more diverse in terms of citizenship. It is no longer uncommon for spouses from different countries to retain citizenship in their native countries. Many couples split their time between the United States and another country to be near their families and enjoy the many benefits of such a lifestyle. In addition, it is not uncommon for a couple’s children or other loved ones to move away from their country of origin and take up permanent residence abroad, or even renounce their home country citizenship, depending on their choices of careers or domestic partners or other considerations. Diversity of citizenship among friends and family also creates a fair share of complications.
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Tuesday, September 15, 2020
Deeper Dive into Advance Healthcare Directives When it comes to your healthcare, especially during these uncertain times, you need to ensure that two estate planning documents in particular are up to date. The first is your healthcare power of attorney. This document allows you to name a person to make medical decisions on your behalf or communicate your wishes in the event you are unable to. The second document your estate plan should include is an advance healthcare directive, sometimes referred to as a living will. (It’s important to note that in some states, these two documents are combined into a single document.
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Monday, September 7, 2020
You and your spouse live together, you work together, and chances are you spend a lot of your free time together. Having a successful marriage and business takes a lot of hard work and dedication but can also be among the most rewarding things in life. To help keep you on the right track, here are a few tips.Read more . . .
Monday, August 24, 2020
February has been celebrated as American Heart Month since 1963 in an effort to urge Americans to join the fight against heart disease, which is the leading cause of death for both men and women. It is also a great opportunity to consider who is the best person to act as your medical agent if you are stricken by a heart attack (or develop any other ailment) and are unable to make your own decisions about your health care or can’t communicate your wishes.Read more . . .
Monday, August 10, 2020
It is very important to regularly review and update all of your estate planning documents. However, your financial power of attorney is one document that should be reexamined more frequently than others. Revisiting your financial power of attorney will help ensure that the person you have appointed (your agent) is still the person you want to fill that role and that person is willing and able to act as your agent. If you no longer want the same agent, it is crucial to revoke the power of attorney as required by your state’s law while you still have the mental capacity to revoke it. Similarly, if you have been named as someone else’s (the principal’s) agent in a power of attorney, but want to resign from that role, it is essential to take the proper steps to make your resignation effective. Failure to do so could be a costly but avoidable mistake.Read more . . .
Monday, August 10, 2020
For many snowbirds, cooler weather means it is time to head south. If you are thinking about heading for warmer weather this winter, there are a few things you should consider before hitting the road. What is happening in your destination state? Because we are still in the midst of a pandemic, it would be prudent to do some research about your winter destination. How many COVID-19 cases has the state had? Are these numbers trending upward? Upon your arrival, will the local or state government require that you quarantine for a period of time? Lastly, are there any additional local orders that you should be aware of, such as a requirement that masks be worn indoors or restrictions on dining in restaurants? Which state do you consider your home? Your state of domicile impacts your estate planning, family law matters, and taxes. Due to differences in state tests for determining residency, you can be considered a resident of more than one state; however, you can only be domiciled in one state.
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Friday, July 24, 2020
Even if you are currently the picture of good health, you may suddenly become too ill to make healthcare decisions for yourself or become unconscious after an accident, needing someone to stand in your shoes to make those decisions for you. A medical power of attorney is a crucial part of your estate plan that enables you to name a trusted person to make healthcare decisions for you if needed. It is essential for the person you name to have the information necessary to carry out your wishes for your medical care.Read more . . .
Wednesday, July 15, 2020
July is National Sandwich Generation Month, a time to honor those who are caring for both their children and their aging parents. This topic is particularly germane at present, as many parents are not only parenting their children but have also spent the last few months homeschooling them. Older children who have lost their jobs or were unable to return to college after spring break due to the coronavirus may now be living at home. At the same time, those parents may already be acting as a caregiver for one or more of their parents who are no longer able to look after themselves, or they may have become more involved in caring for aging parents who are at a higher risk for contracting COVID-19. Self-Care Is Crucial Those who are also working—either remotely or outside of the home—have additional responsibilities beyond caregiving.
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Tuesday, July 14, 2020
After months of near confinement in our homes, many of us are stir-crazy and eager to travel to a vacation destination. Although more states are opening up, there are several precautions to consider and preparations to make as you plan your summer travels. Heed the Centers for Disease Control and Prevention (CDC) guidelines. The CDC has issued a number of Read more . . .
Nennig Law Offices, LLC assists clients in Madison, WI and throughout Southern Wisconsin including Verona, Middleton, Sun Prairie, Cross Plains,Sauk City, Belleville, Waunakee, Mount Horeb, Oregon, Black Earth, DeForest,Monona, McFarland, Stoughton, Cambridge, Deerfield and Fitchburg.
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