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What Does Fiduciary Mean? August 11, 2023 By Melinda Gustafson Gervasi Without fail, when explaining a Wisconsin Power of Attorney for Finances document to a client, I point out the last page.  It requires the signature of the primary and secondary agents appointed by the principal.  In simple terms, the first and second person my client appointed to handle their financial matters if they were alive but too sick to act, needs to sign-off of being a fiduciary.  "What exactly is a fiduciary?" many clients ask. According to Dictionary.com, a fiduciary is a person to whom property or power is entrusted for the benefit of another.  Building on that basis, the Consumer Financial Protection Bureau states that a Fiduciary is someone who manages money or property for someone else.  A key concept is that they are managing the money for someone; it is not their own money.  How is this implemented you might wonder.  Keep the following in mind if you have been as...

Estate Planning & Probate for the Bibliophile August 4, 2023 By Melinda Gustafson Gervasi Bibliophile -- is an adjective that should be included in any online profile I write for myself.   Some people have a "to read" pile of books on the nightstand.  I have a "to read" book shelf.  As a young child I remember summer days spent organizing and reorganizing my book collection.  It has been a lifelong trait since my mother first started buying me Golden Books as a toddler.   Now, as I approach the 50 year milestone, my book collection is extensive.   My love of books and reading was a significant influence in my decision to enter law school and engage in the practice of law.  After nearly twenty years of handling estate planning and probate cases, I am acutely aware of the fact that one day someone (my husband, my kids, or my banker) will need to figure out what to do with all of those books I accumulated.  Apparently I am not the ...