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19(6) Exercise an election.
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20(7) Exercise investment powers available under a contract of insurance or
21annuity.
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22(8) Change the manner of paying premiums on a contract of insurance or
23annuity.
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24(9) Change or convert the type of insurance or annuity with respect to which
25the principal has or claims to have authority described in this section.
AB704,34,3
1(10) Apply for and procure a benefit or assistance under a statute, rule, or
2regulation to guarantee or pay premiums of a contract of insurance on the life of the
3principal.
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4(11) Collect, sell, assign, hypothecate, borrow against, or pledge the interest
5of the principal in a contract of insurance or annuity.
AB704,34,7
6(12) Select the form and timing of the payment of proceeds from a contract of
7insurance or annuity.
AB704,34,11
8(13) Pay, from proceeds or otherwise, compromise or contest, and apply for
9refunds in connection with, a tax or assessment levied by a taxing authority with
10respect to a contract of insurance or annuity or its proceeds or liability accruing by
11reason of the tax or assessment.
AB704,34,15
12244.51 Estates, trusts, and other beneficial interests. (1) In this section,
13"estates, trusts, and other beneficial interests" means a trust, probate estate,
14guardianship, conservatorship, escrow, or custodianship or a fund from which the
15principal is, may become, or claims to be, entitled to a share or payment.
AB704,34,18
16(2) Unless the power of attorney otherwise provides, language in a power of
17attorney granting general authority with respect to estates, trusts, and other
18beneficial interests authorizes the agent to do all of the following:
AB704,34,2019
(a) Accept, receive, receipt for, sell, assign, pledge, or exchange a share in or
20payment from an estate, trust, or beneficial interest.
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(b) Demand or obtain money or another thing of value to which the principal
22is, may become, or claims to be, entitled by reason of an estate, trust, or beneficial
23interest, by litigation or otherwise.
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(c) Exercise for the benefit of the principal a presently exercisable general
25power of appointment held by the principal.
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1(d) Initiate, participate in, submit to alternative dispute resolution, settle,
2oppose, or propose or accept a compromise with respect to litigation to ascertain the
3meaning, validity, or effect of a deed, will, declaration of trust, or other instrument
4or transaction affecting the interest of the principal.
AB704,35,75
(e) Initiate, participate in, submit to alternative dispute resolution, settle,
6oppose, or propose or accept a compromise with respect to litigation to remove,
7substitute, or surcharge a fiduciary.
AB704,35,98
(f) Conserve, invest, disburse, or use anything received for an authorized
9purpose.
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(g) Transfer an interest of the principal in real property, stocks and bonds,
11accounts with financial institutions or securities intermediaries, insurance,
12annuities, and other property to the trustee of a revocable trust created by the
13principal as settlor.
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(h) Sign a waiver or consent in a probate matter.
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(i) Reject, renounce, disclaim, release, or consent to a reduction in or
16modification of a share in or payment from an estate, trust, or beneficial interest.
AB704,35,19
17244.52 Claims and litigation. Unless the power of attorney otherwise
18provides, language in a power of attorney granting general authority with respect to
19claims and litigation authorizes the agent to do all of the following:
AB704,35,24
20(1) Assert and maintain before a court or administrative agency a claim, claim
21for relief, cause of action, counterclaim, offset, recoupment, or defense, including an
22action to recover property or other thing of value, recover damages sustained by the
23principal, eliminate or modify tax liability, or seek an injunction, specific
24performance, or other relief.
AB704,36,2
1(2) Bring an action to determine adverse claims or intervene or otherwise
2participate in litigation.
AB704,36,5
3(3) Seek an attachment, garnishment, order of arrest, or other preliminary,
4provisional, or intermediate relief and use any available procedure to effect or satisfy
5a judgment, order, or decree.
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6(4) Make or accept a tender, offer of judgment, or admission of facts, submit a
7controversy on an agreed statement of facts, consent to examination, and bind the
8principal in litigation.
AB704,36,10
9(5) Submit to alternative dispute resolution, settle, and propose or accept a
10compromise.
AB704,36,18
11(6) Waive the issuance and service of process upon the principal, accept service
12of process, appear for the principal, designate persons upon which process directed
13to the principal may be served, execute and file or deliver stipulations on the
14principal's behalf, verify pleadings, seek appellate review, procure and give surety
15and indemnity bonds, contract and pay for the preparation and printing of records
16and briefs, receive, execute, and file or deliver a consent, waiver, release, confession
17of judgment, satisfaction of judgment, notice, agreement, or other instrument in
18connection with the prosecution, settlement, or defense of a claim or litigation.
AB704,36,23
19(7) Act for the principal with respect to bankruptcy or insolvency, whether
20voluntary or involuntary, concerning the principal or some other person, or with
21respect to a reorganization, receivership, or application for the appointment of a
22receiver or trustee which affects an interest of the principal in property or other thing
23of value.
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24(8) Pay a judgment, award, or order against the principal or a settlement made
25in connection with a claim or litigation.
AB704,37,2
1(9) Receive money or other thing of value paid in settlement of or as proceeds
2of a claim or litigation.
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3244.53 Personal and family maintenance.
(1) Unless the power of
4attorney otherwise provides, language in a power of attorney granting general
5authority with respect to personal and family maintenance authorizes the agent to
6do all of the following:
AB704,37,107
(a) Perform the acts necessary to maintain the customary standard of living of
8the principal, the principal's spouse or the principal's domestic partner, and the
9following individuals, whether living when the power of attorney is executed or later
10born:
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1. The principal's children.
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2. Other individuals legally entitled to be supported by the principal.
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3. The individuals whom the principal has customarily supported or indicated
14the intent to support.
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(b) Make periodic payments of child support and other family maintenance
16required by a court or governmental agency or an agreement to which the principal
17is a party.
AB704,37,1918
(c) Provide living quarters for the individuals described in par. (a) by doing any
19of the following:
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1. Purchasing, leasing, or entering into a contract.
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2. Paying the operating costs, including interest, amortization payments,
22repairs, improvements, and taxes, for premises owned by the principal or occupied
23by those individuals.
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(d) Provide normal domestic help, usual vacations and travel expenses, and
25funds for shelter, clothing, food, appropriate education, including postsecondary and
1vocational education, and other current living costs for the individuals described in
2par. (a).
AB704,38,43
(e) Pay expenses for necessary health care and custodial care on behalf of the
4individuals described in par. (a).
AB704,38,95(f) Act as the principal's personal representative under
42 USC 1320d, the
6Health Insurance Portability and Accountability Act, and applicable regulations, in
7making decisions related to the past, present, or future payment for the provision of
8health care consented to by the principal or anyone authorized under the law of this
9state to consent to health care on behalf of the principal.
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(g) Continue any provision made by the principal for motor vehicles or other
11means of transportation, including registering, licensing, insuring, and replacing
12the vehicles, for the individuals described in par. (a).
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(h) Maintain credit and debit accounts for the convenience of the individuals
14described in par. (a) and open new accounts.
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(i) Continue payments incidental to the membership or affiliation of the
16principal in a religious institution, club, society, order, or other organization or to
17continue contributions to those organizations.
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18(2) Authority with respect to personal and family maintenance is neither
19dependent upon, nor limited by, authority that an agent may or may not have with
20respect to gifts under this chapter.
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21244.54 Benefits from governmental programs or civil or military
22service. (1) In this section, "benefits from governmental programs or civil or
23military service" means any benefit, program or assistance provided under a statute,
24rule, or regulation, including social security, medicare, and medicaid.
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1(2) Unless the power of attorney otherwise provides, language in a power of
2attorney granting general authority with respect to benefits from governmental
3programs or civil or military service authorizes the agent to do all of the following:
AB704,39,84
(a) Execute vouchers in the name of the principal for allowances and
5reimbursements payable by the United States or a foreign government or by a state
6or subdivision of a state to the principal, including allowances and reimbursements
7for transportation of the individuals described in s. 244.53 (1) (a), and for shipment
8of their household effects.
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(b) Take possession and order the removal and shipment of property of the
10principal from a post, warehouse, depot, dock, or other place of storage or
11safekeeping, either governmental or private, and execute and deliver a release,
12voucher, receipt, bill of lading, shipping ticket, certificate, or other instrument for
13that purpose.
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(c) Enroll in, apply for, select, reject, change, amend, or discontinue, on the
15principal's behalf, a benefit or program.
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(d) Prepare, file, and maintain a claim of the principal for a benefit or
17assistance, financial or otherwise, to which the principal may be entitled under a
18statute, rule, or regulation.
AB704,39,2219
(e) Initiate, participate in, submit to alternative dispute resolution, settle,
20oppose, or propose or accept a compromise with respect to litigation concerning any
21benefit or assistance the principal may be entitled to receive under a statute, rule,
22or regulation.
AB704,39,2423
(f) Receive the financial proceeds of a claim described in par. (d) and conserve,
24invest, disburse, or use for a lawful purpose anything so received.
AB704,40,4
1244.55 Retirement plans. (1) In this section, "retirement plan" means a plan
2or account created by an employer, the principal, or another individual to provide
3retirement benefits or deferred compensation of which the principal is a participant,
4beneficiary, or owner, including the following plans or accounts:
AB704,40,65(a) An individual retirement account under section
408 of the Internal Revenue
6Code.
AB704,40,87(b) A Roth individual retirement account under section
408A of the Internal
8Revenue Code.
AB704,40,109(c) A deemed individual retirement account under section
408 (q) of the
10Internal Revenue Code.
AB704,40,1211(d) An annuity or mutual fund custodial account under section
403 (b) of the
12Internal Revenue Code.
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(e) A pension, profit-sharing, stock bonus, or other retirement plan qualified
14under section
401 (a) of the Internal Revenue Code.
AB704,40,1515(f) A plan under section
457 (b) of the Internal Revenue Code.
AB704,40,1716(g) A nonqualified deferred compensation plan under section
409A of the
17Internal Revenue Code.
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18(2) Unless the power of attorney otherwise provides, language in a power of
19attorney granting general authority with respect to retirement plans authorizes the
20agent to do all of the following:
AB704,40,2221
(a) Select the form and timing of payments under a retirement plan and
22withdraw benefits from a plan.
AB704,40,2423
(b) Make a rollover, including a direct trustee-to-trustee rollover, of benefits
24from one retirement plan to another.
AB704,40,2525
(c) Establish a retirement plan in the principal's name.
AB704,41,1
1(d) Make contributions to a retirement plan.
AB704,41,22
(e) Exercise investment powers available under a retirement plan.
AB704,41,33
(f) Borrow from, sell assets to, or purchase assets from a retirement plan.
AB704,41,6
4244.56 Taxes. Unless the power of attorney otherwise provides, language in
5a power of attorney granting general authority with respect to taxes authorizes the
6agent to do all of the following:
AB704,41,14
7(1) Prepare, sign, and file federal, state, local, and foreign income, gift, payroll,
8property, Federal Insurance Contributions Act, and other tax returns, claims for
9refunds, requests for extension of time, petitions regarding tax matters, and any
10other tax-related documents, including receipts, offers, waivers, consents, including
11consents and agreements under 2032A of the Internal Revenue Code, closing
12agreements, and any power of attorney required by the Internal Revenue Service or
13other taxing authority with respect to a tax year upon which the statute of
14limitations has not run and the following 25 tax years.
AB704,41,17
15(2) Pay taxes due, collect refunds, post bonds, receive confidential information,
16and contest deficiencies determined by the Internal Revenue Service or other taxing
17authority.
AB704,41,19
18(3) Exercise any election available to the principal under federal, state, local,
19or foreign tax law.
AB704,41,21
20(4) Act for the principal in all tax matters for all periods before the Internal
21Revenue Service, or other taxing authority.
AB704,41,24
22244.57 Gifts. (1) In this section, a gift "for the benefit of" a person includes
23a gift to a trust, an account under ss. 54.854 to 54.898, and a tuition savings account
24or prepaid tuition plan as defined under section
529 of the Internal Revenue Code.
AB704,42,3
1(2) Unless the power of attorney otherwise provides, language in a power of
2attorney granting general authority with respect to gifts authorizes the agent to do
3all of the following:
AB704,42,114
(a) Make outright to, or for the benefit of, a person, a gift of any of the principal's
5property, including by the exercise of a presently exercisable general power of
6appointment held by the principal, in an amount per donee not to exceed the annual
7dollar limits of the federal gift tax exclusion under section
2503 (b) of the Internal
8Revenue Code, without regard to whether the federal gift tax exclusion applies to the
9gift, or if the principal's spouse agrees to consent to a split gift under section
2513 of
10the Internal Revenue Code, in an amount per donee not to exceed twice the annual
11federal gift tax exclusion limit.
AB704,42,1412(b) Consent, under section
2513 of the Internal Revenue Code, to the splitting
13of a gift made by the principal's spouse in an amount per donee not to exceed the
14aggregate annual gift tax exclusions for both spouses.
AB704,42,1815
(c) Make a gift of the principal's property only as the agent determines is
16consistent with the principal's objectives if actually known by the agent and, if
17unknown, as the agent determines is consistent with the principal's best interest
18based on all relevant factors, including all of the following:
AB704,42,1919
1. The value and nature of the principal's property.
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2. The principal's foreseeable obligations and need for maintenance.
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3. Minimization of taxes, including income, estate, inheritance, generation
22skipping transfer, and gift taxes.
AB704,42,2423
4. Eligibility for a benefit, a program, or assistance under a statute, rule, or
24regulation.
AB704,42,2525
5. The principal's personal history of making or joining in making gifts.
AB704,43,6
1244.61 Statutory Form Power of Attorney for Finances and Property. 2A document substantially in the following form may be used to create a statutory
3form power of attorney that has the meaning and effect prescribed by this chapter.
4An appendix shall be attached to this form that includes the text of ss. 244.44 to
5244.56. The appendix is for definitions only. The agent has powers only regarding
6the subjects initialed on the form.
AB704,43,10
7WISCONSIN
8
STATUTORY FORM
9
POWER OF ATTORNEY
10
FOR FINANCES AND PROPERTY
AB704,43,1111
IMPORTANT INFORMATION
AB704,43,19
12This power of attorney authorizes another person (your
13agent) to make decisions concerning your property for you
14(the principal). Your agent will be able to make decisions and
15act with respect to your property (including your money)
16whether or not you are able to act for yourself. The meaning
17of authority over subjects listed on this form is explained in
18the Uniform Power of Attorney for Finances and Property Act
19in chapter 244 of the Wisconsin statutes.
AB704,43,21
20This power of attorney does not authorize the agent to
21make health-care decisions for you.
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22You should select someone you trust to serve as your
23agent. Unless you specify otherwise, generally the agent's
24authority will continue until you die or revoke the power of
25attorney or the agent resigns or is unable to act for you.