MESSAGE FROM OUR OFFICE
September 23rd this year is the official start of the fall season. Hopefully we still have a little bit of summer weather before it turns much cooler.
As a legislative alert, the State of Wisconsin is considering some legislation that would make it more difficult for seniors (defined as age 60 or more) to manage their own assets, and make it easier for families or others to impose legal restrictions on a senior's ability to manage their own money. The legislation is in draft form at this point, with nothing passed, but many people are alarmed at the breadth and reach of this legislation, if it were to pass. It can even allow financial institutions, such as your bank, the ability to dishonor your checks or other financial transactions, or cause significant delays.
Supporters say that the legislation is a protection for seniors to prevent them from becoming victims of financial abuse. Critics of the legislation believe that it goes way too far, in imposing restrictions and giving third-parties the ability to control the transactions at issue.
Next month, I will have a more detailed article talking about the legislation and its possible affects.