AB704: Bill Text

AB704,43,11 IMPORTANT INFORMATION

AB704,43,19 This power of attorney authorizes another person (your agent) to make decisions concerning your property for you (the principal). Your agent will be able to make decisions and act with respect to your property (including your money) whether or not you are able to act for yourself. The meaning of authority over subjects listed on this form is explained in the Uniform Power of Attorney for Finances and Property Act in chapter 244 of the Wisconsin statutes.

AB704,43,21 This power of attorney does not authorize the agent to make health-care decisions for you.

AB704,43,25 You should select someone you trust to serve as your agent. Unless you specify otherwise, generally the agent's authority will continue until you die or revoke the power of attorney or the agent resigns or is unable to act for you.

AB704,44,2 Your agent is entitled to reasonable compensation unless you state otherwise in the special instructions.

AB704,44,7 This form provides for designation of one agent. If you wish to name more than one agent you may name a coagent in the special instructions. Coagents are not required to act together unless you include that requirement in the special instructions.

AB704,44,10 If your agent is unable or unwilling to act for you, your power of attorney will end unless you have named a successor agent. You may also name a 2nd successor agent.

AB704,44,15 This power of attorney becomes effective immediately unless you state otherwise in the special instructions. This power of attorney does not revoke any power of attorney executed previously unless you so provide in the special instructions.

AB704,44,21 if you revoke this power of attorney, you should notify your agent and any other person to whom you have given a copy. If your agent is your spouse or domestic partner and your marriage in annulled or you are divorced or legally separated or the domestic partnership is terminated after signing this document, the document is invalid.

AB704,44,24 If you have questions about the power of attorney or the authority you are granting to your agent, you should seek legal advice before signing this form.

AB704,44,25 DESIGNATION OF AGENT

AB704,45,1 I .... (name of principal) name the following person as my agent:

AB704,45,2 Name of agent: ....

AB704,45,3 Agent's address: ....

AB704,45,4 Agent's telephone number: ....

AB704,45,6 DESIGNATION OF SUCCESSOR AGENT(S) (OPTIONAL)

AB704,45,7 If my agent is unable or unwilling to act for me, I name as my successor agent:

AB704,45,8 Name of successor agent: ....

AB704,45,9 Successor agent's address: ....

AB704,45,10 Successor agent's telephone number: ....

AB704,45,12 If my successor agent is unable or unwilling to act for me, I name as my 2nd successor agent:

AB704,45,13 Name of 2nd successor agent: ....

AB704,45,14 Second successor agent's address: ....

AB704,45,15 Second successor agent's telephone number: ....

AB704,45,16 GRANT OF GENERAL AUTHORITY

AB704,45,19 I grant my agent and any successor agent general authority to act for me with respect to the following subjects as defined in the Uniform Power of Attorney for Finances and Property Act in chapter 244 of the Wisconsin statutes:

AB704,45,20 INITIAL each subject you want to include in the agent's general authority.

AB704,45,21 .... Real property

AB704,45,22 .... Tangible personal property

AB704,45,23 .... Stocks and bonds

AB704,45,24 .... Commodities and options

AB704,45,25 .... Banks and other financial institutions

AB704,46,1 .... Operation of entity or business

AB704,46,2 .... Insurance and annuities

AB704,46,3 .... Estates, trusts, and other beneficial interests

AB704,46,4 .... Claims and litigation

AB704,46,5 .... Personal and family maintenance

AB704,46,6 .... Benefits from governmental programs or civil or military service

AB704,46,7 .... Retirement plans

AB704,46,8 .... Taxes

AB704,46,9 LIMITATION ON AGENT'S AUTHORITY

AB704,46,12 An agent who is not my spouse or domestic partner MAY NOT use my property to benefit the agent or a person to whom the agent owes an obligation of support unless I have included that authority in the special instructions.

AB704,46,13 SPECIAL INSTRUCTIONS (OPTIONAL)

AB704,46,14 You may give special instructions in the following space ....

AB704,46,20 EFFECTIVE DATE

AB704,46,22 This power of attorney is effective immediately unless I have stated otherwise in the special instructions.

AB704,46,23 NOMINATION OF GUARDIAN (OPTIONAL)

AB704,46,25 If it becomes necessary for a court to appoint a guardian of my estate or guardian of my person, I nominate the following person(s) for appointment:

AB704,47,1 Name of nominee for guardian of my estate: ....

AB704,47,2 Nominee's address: ....

AB704,47,3 Nominee's telephone number: ....

AB704,47,4 Name of nominee for guardian of my person: ....

AB704,47,5 Nominee's address: ....

AB704,47,6 Nominee's telephone number: ....

AB704,47,8 RELIANCE ON THIS POWER OF ATTORNEY FOR FINANCES AND PROPERTY

AB704,47,11 Any person, including my agent, may rely upon the validity of this power of attorney or a copy of it unless that person knows that the power of attorney has been terminated or is invalid.

AB704,47,12 SIGNATURE AND ACKNOWLEDGMENT

AB704,47,13 Your signature .... Date ....

AB704,47,14 Your name printed ....

AB704,47,15 Your address ....

AB704,47,16 Your telephone number ....

AB704,47,17 State of ....

AB704,47,18 County of ....

AB704,47,20 This document was acknowledged before me on .... (date), by .... (name of principal).

AB704,47,21 (Seal, if any)

AB704,47,22 Signature of notary ....

AB704,47,23 My commission expires: ....

AB704,47,24 This document prepared by: ....

AB704,47,25 IMPORTANT INFORMATION FOR AGENT

AB704,48,1 AGENT'S DUTIES

AB704,48,7 When you accept the authority granted under this power of attorney, a special legal relationship is created between you and the principal. This relationship imposes upon you legal duties that continue until you resign or the power of attorney is terminated or revoked. You must do all of the following:

AB704,48,10 (1) Do what you know the principal reasonably expects you to do with the principal's property or, if you do not know the principal's expectations, act in the principal's best interest.

AB704,48,11 (2) Act in good faith.

AB704,48,13 (3) Do nothing beyond the authority granted in this power of attorney.

AB704,48,17 (4) Disclose your identity as an agent whenever you act for the principal by writing or printing the name of the principal and signing your own name as "agent" in the following manner:

AB704,48,18 .... (principal's name) by .... (your signature) as agent

AB704,48,20 Unless the special instructions in this power of attorney state otherwise, you must also do all of the following:

AB704,48,21 (1) Act loyally for the principal's benefit.

AB704,48,23 (2) Avoid conflicts that would impair your ability to act in the principal's best interest.

AB704,48,24 (3) Act with care, competence, and diligence.

AB704,49,2 (4) Keep a record of all receipts, disbursements, and transactions made on behalf of the principal.

AB704,49,6 (5) Cooperate with any person that has authority to make health-care decisions for the principal to do what you know the principal reasonably expects or, if you do not know the principal's expectations, to act in the principal's best interest.

AB704,49,9 (6) Attempt to preserve the principal's estate plan if you know the plan and preserving the plan is consistent with the principal's best interest.

AB704,49,10 Termination of Agent's Authority