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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.
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4. Eligibility for a benefit, a program, or assistance under a statute, rule, or
24regulation.
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5. The principal's personal history of making or joining in making gifts.
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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.
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7WISCONSIN
8
STATUTORY FORM
9
POWER OF ATTORNEY
10
FOR FINANCES AND PROPERTY
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IMPORTANT INFORMATION
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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.
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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.
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1Your agent is entitled to reasonable compensation
2unless you state otherwise in the special instructions.
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3This form provides for designation of one agent. If you
4wish to name more than one agent you may name a coagent in
5the special instructions. Coagents are not required to act
6together unless you include that requirement in the special
7instructions.
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8If your agent is unable or unwilling to act for you, your
9power of attorney will end unless you have named a
10successor agent. You may also name a 2nd successor agent.
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11This power of attorney becomes effective immediately
12unless you state otherwise in the special instructions. This
13power of attorney does not revoke any power of attorney
14executed previously unless you so provide in the special
15instructions.
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16if you revoke this power of attorney, you should notify
17your agent and any other person to whom you have given a
18copy. If your agent is your spouse or domestic partner and
19your marriage in annulled or you are divorced or legally
20separated or the domestic partnership is terminated after
21signing this document, the document is invalid.
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22If you have questions about the power of attorney or the
23authority you are granting to your agent, you should seek
24legal advice before signing this form.
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DESIGNATION OF AGENT
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1I .... (name of principal) name the following person as my agent:
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Name of agent: ....
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Agent's address: ....
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Agent's telephone number: ....
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DESIGNATION OF SUCCESSOR AGENT(S)
6(OPTIONAL)
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If my agent is unable or unwilling to act for me, I name as my successor agent:
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Name of successor agent: ....
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Successor agent's address: ....
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Successor agent's telephone number: ....
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If my successor agent is unable or unwilling to act for me, I name as my 2nd
12successor agent:
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Name of 2nd successor agent: ....
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Second successor agent's address: ....
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Second successor agent's telephone number: ....
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GRANT OF GENERAL AUTHORITY
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I grant my agent and any successor agent general authority to act for me with
18respect to the following subjects as defined in the Uniform Power of Attorney for
19Finances and Property Act in chapter 244 of the Wisconsin statutes:
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INITIAL each subject you want to include in the agent's general authority.
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.... Real property
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.... Tangible personal property
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.... Stocks and bonds
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.... Commodities and options
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.... Banks and other financial institutions
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1.... Operation of entity or business
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.... Insurance and annuities
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.... Estates, trusts, and other beneficial interests
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.... Claims and litigation
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.... Personal and family maintenance
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.... Benefits from governmental programs or civil or military service
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.... Retirement plans
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LIMITATION ON AGENT'S AUTHORITY
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An agent who is not my spouse or domestic partner MAY NOT use my property
11to benefit the agent or a person to whom the agent owes an obligation of support
12unless I have included that authority in the special instructions.
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SPECIAL INSTRUCTIONS (OPTIONAL)
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You may give special instructions in the following space ....
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EFFECTIVE DATE
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This power of attorney is effective immediately unless I have stated otherwise
22in the special instructions.
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NOMINATION OF GUARDIAN (OPTIONAL)
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If it becomes necessary for a court to appoint a guardian of my estate or
25guardian of my person, I nominate the following person(s) for appointment:
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1Name of nominee for guardian of my estate: ....
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Nominee's address: ....
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Nominee's telephone number: ....
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Name of nominee for guardian of my person: ....
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Nominee's address: ....
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Nominee's telephone number: ....
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RELIANCE ON THIS POWER OF
8
ATTORNEY FOR FINANCES AND PROPERTY
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Any person, including my agent, may rely upon the validity of this power of
10attorney or a copy of it unless that person knows that the power of attorney has been
11terminated or is invalid.
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SIGNATURE AND ACKNOWLEDGMENT
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Your signature .... Date ....
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Your name printed ....
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Your address ....
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Your telephone number ....
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State of ....
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County of ....
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This document was acknowledged before me on .... (date), by .... (name of
20principal).
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(Seal, if any)
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Signature of notary ....
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My commission expires: ....
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This document prepared by: ....
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IMPORTANT INFORMATION FOR AGENT
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1AGENT'S DUTIES
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2When you accept the authority granted under this power
3of attorney, a special legal relationship is created between
4you and the principal. This relationship imposes upon you
5legal duties that continue until you resign or the power of
6attorney is terminated or revoked. You must do all of the
7following:
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8(1) Do what you know the principal reasonably expects you
9to do with the principal's property or, if you do not know the
10principal's expectations, act in the principal's best interest.
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11(2) Act in good faith.
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12(3) Do nothing beyond the authority granted in this power
13of attorney.
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14(4) Disclose your identity as an agent whenever you act
15for the principal by writing or printing the name of the
16principal and signing your own name as "agent" in the
17following manner:
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.... (principal's name) by .... (your signature) as agent
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19Unless the special instructions in this power of attorney
20state otherwise, you must also do all of the following:
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21(1) Act loyally for the principal's benefit.
