Wisconsin Power of Attorney for Finances and Property Law

Power of Attorney and Health Care – General – Wisconsin

A “durable power of attorney” is a power of attorney by which a principal designates another as his or her agent in writing and the writing contains the words “this power of attorney shall not be affected by subsequent disability or incapacity of the principal”, or “this power of attorney shall become effective upon the disability or incapacity of the principal”, or similar words showing the intent of the principal that the authority conferred shall be exercisable notwithstanding the principal’s subsequent disability or incapacity.

If a portion of a durable power of attorney that is executed under this section after April 28, 1990, specifically authorizes the agent to make health care decisions on behalf of the principal, that portion of the durable power of attorney has no force or effect and that portion of the durable power of attorney instrument that is so executed and makes these authorizations is invalid, unless that portion of the durable power of attorney instrument conforms to the requirements of §155.10,et seq.

Statutory Form:

The statute provides a non-mandatory form for a Power of Attorney for Finances and Property.  By the terms of the form provided, and by the choices provided therein, this power of attorney can be general, limited, and/or durable.Among other things, the form allows the principal to select a guardian of the principal’s estate in the event that should become necessary.

Execution Requirements:

The power of attorney must be signed by the principal, witnessed by two persons, and acknowledged before a notarial officer. Additionally, the the individual being named as the agent of the principal must also sign and, by doing so, acknowledges that he/she accepts the appointment and assumes the other responsibilities and liabilities of an agent.

Copies:

A copy of a basic power of attorney for finances and property has the same force and effect as the original.

Durable Power of Attorney:

A power of attorney for finances and property that is legally sufficient under this section is durable to the extent that durable powers are permitted under the uniform durable power of attorney act and the power of attorney itself  contains language showing the intent of the principal that the power granted may be exercised notwithstanding later disability or incapacity.

Relation to Power of Attorney for Health Care:

The execution of a power of attorney for finances and property does not confer on the agent any of the powers or duties conferred on a health care agent by the power of attorney for health care.

Amendment, Revocation, and Invalidation Requirements:

A principal may amend a power of attorney for finances and property only by revoking that power of attorney and completing a new power of attorney for finances and property.A principal may revoke a power of attorney for finances and property and invalidate it at any time by destroying it, by directing another person to destroy it in the principal’s presence or by signing a written and dated statement expressing the principal’s intent to revoke.

If the agent under the power of attorney for finances and property is the principal’s spouse and the marriage is annulled, or the agent and principal are divorced, after signing the document, the power of attorney for finances and property is invalid.

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Inside Wisconsin Power of Attorney for Finances and Property Law