243.10(10)(e)
(e) Apply for and receive a loan on the security of the contract of insurance or annuity.
243.10(10)(f)
(f) Surrender and receive the cash surrender value.
243.10(10)(i)
(i) Change or convert the type of insurance contract or annuity, with respect to which the principal has or claims to have a power described in this subsection.
243.10(10)(j)
(j) Change the beneficiary of a contract of insurance or annuity, but the agent may not be designated a beneficiary except to the extent permitted by
par. (d).
243.10(10)(k)
(k) Apply for and procure government aid to guarantee or pay premiums of a contract of insurance on the life of the principal.
243.10(10)(L)
(L) Collect, sell, assign, hypothecate, borrow upon or pledge the interest of the principal in a contract of insurance or annuity.
243.10(10)(m)
(m) Pay from proceeds or otherwise, compromise or contest, and apply for refunds in connection with, a tax or assessment levied by a taxing authority with respect to a contract of insurance or annuity or its proceeds or liability accruing by reason of the tax or assessment.
243.10(10)(n)
(n) Claim and be paid the proceeds or benefits of a contract of insurance or annuity under which the principal has an interest as beneficiary or otherwise.
243.10(11)
(11) Construction of power relating to estate, trust and other beneficiary transactions. In a statutory power of attorney, the language granting power with respect to estate, trust and other beneficiary transactions empowers the agent to act for the principal in all matters that affect a trust, probate estate, guardianship, conservatorship, escrow, custodianship or other fund from which the principal is, may become or claims to be entitled, as a beneficiary, to a share or payment, including to do all of the following:
243.10(11)(a)
(a) Accept, reject, disclaim, receive, receipt for, sell, assign, release, pledge, exchange or consent to a reduction in or modification of a share in or payment from the fund.
243.10(11)(b)
(b) Demand or obtain by litigation or otherwise money or other thing of value to which the principal is, may become or claims to be entitled by reason of the fund.
243.10(11)(c)
(c) Initiate, participate in and oppose litigation to ascertain the meaning, validity or effect of a deed, will, declaration of trust or other instrument or transaction affecting the interest of the principal.
243.10(11)(d)
(d) Initiate, participate in and oppose litigation to remove, substitute or surcharge a fiduciary.
243.10(11)(e)
(e) Conserve, invest, disburse and use anything received for an authorized purpose.
243.10(11)(f)
(f) Transfer an interest of the principal in real property, stocks, bonds, accounts with financial institutions, insurance and other property to the trustee of a revocable trust created by the principal as settlor.
243.10(12)
(12) Construction of power relating to claims and litigation. In a statutory power of attorney, the language with respect to claims and litigation empowers the agent to do all of the following:
243.10(12)(a)
(a) Assert and prosecute before a court or administrative agency a claim, claim for relief, cause of action, counterclaim or offset, and defend against an individual, legal entity or government, including suits to recover property or other thing of value, to recover damages sustained by the principal, to eliminate or modify tax liability or to seek an injunction, specific performance or other relief.
243.10(12)(b)
(b) Bring an action to determine adverse claims, intervene in litigation and participate in an appellate action as a person other than a party.
243.10(12)(c)
(c) In connection with litigation, procure an attachment, garnishment, libel, order of arrest or other preliminary, provisional or intermediate relief and use an available procedure to effect or satisfy a judgment, order or decree.
243.10(12)(d)
(d) In connection with litigation, perform any lawful act, including acceptance of tender, offer of judgment, admission of facts, submission of a controversy on an agreed statement of facts, consent to examination before trial and binding the principal in litigation.
243.10(12)(e)
(e) Submit to arbitration, settle and propose or accept a compromise with respect to a claim or litigation.
243.10(12)(f)
(f) Waive the issuance and service of process upon the principal, accept service of process, appear for the principal, designate persons upon whom process directed to the principal may be served, execute and file or deliver stipulations on the principal's behalf, verify pleadings, seek appellate review, procure and give surety and indemnity bonds, contract and pay for the preparation and printing of records and briefs, and receive and execute and file or deliver a consent, waiver, release, confession of judgment, satisfaction of judgment, notice, agreement or other instrument in connection with the prosecution, settlement or defense of a claim or litigation.
243.10(12)(g)
(g) Act for the principal with respect to bankruptcy or insolvency proceedings, whether voluntary or involuntary, concerning the principal or another person, with respect to a reorganization proceeding, or to a receivership or application for the appointment of a receiver or trustee which affects an interest of the principal in property or other thing of value.
243.10(12)(h)
(h) Pay a judgment against the principal or a settlement made in connection with litigation and receive and conserve money or other thing of value paid in settlement of or as proceeds of a claim or litigation.
243.10(13)
(13) Construction of power relating to personal and family maintenance. In a statutory power of attorney, the language granting power with respect to personal and family maintenance empowers the agent to do all of the following:
243.10(13)(a)
(a) Do the acts necessary to maintain the customary standard of living of the principal, the principal's spouse, children and other individuals customarily or legally entitled to be supported by the principal, including providing living quarters by purchase, lease or other contract, or paying the operating costs, including interest, amortization payments, repairs and taxes on premises owned by the principal and occupied by those individuals.
243.10(13)(b)
(b) Provide for the individuals described in
par. (a) normal domestic help; usual vacations and travel expenses; and funds for shelter, clothing, food, appropriate education and other current living costs.
243.10(13)(c)
(c) Pay for the individuals described in
par. (a) necessary medical, dental, surgical care, hospitalization and custodial care.
243.10(13)(d)
(d) Continue any provision made by the principal, for the individuals described in
par. (a), for automobiles or other means of transportation, including registering, licensing, insuring and replacing them.
243.10(13)(e)
(e) Maintain or open charge accounts for the convenience of the individuals described in
par. (a) and open new accounts the agent considers desirable to accomplish a lawful purpose.
243.10(13)(f)
(f) Continue payments incidental to the membership or affiliation of the principal in a church, club, society, order or other organization, or continue contributions to those organizations.
243.10(14)
(14) Construction of power relating to benefits from social security, medicare, medicaid or other governmental programs or military service. In a statutory power of attorney, the language granting power with respect to benefits from social security, medicare, medicaid or other governmental programs or civil or military service empowers the agent to do all of the following:
243.10(14)(a)
(a) Execute vouchers in the name of the principal for allowances and reimbursements payable to the principal by the United States or a foreign government or by a state or subdivision of a state, including allowances and reimbursements for transportation of the individuals described in
sub. (13) (a), and for shipment of their household effects.
243.10(14)(b)
(b) Take possession and order the removal and shipment of property of the principal from a post, warehouse, depot, dock or other place of storage or safekeeping, either governmental or private, and execute and deliver a release, voucher, receipt, bill of lading, shipping ticket, certificate or other instrument for that purpose.
243.10(14)(c)
(c) Prepare, file and prosecute a claim of the principal to a benefit or assistance, financial or otherwise, to which the principal claims to be entitled, under a statute or governmental rule or regulation.
243.10(14)(d)
(d) Prosecute, defend, submit to arbitration, settle and propose or accept a compromise with respect to any benefits the principal may be entitled to receive.
243.10(14)(e)
(e) Receive the financial proceeds of a claim of the type described in this subsection, and conserve, invest, disburse or use anything received for a lawful purpose.
243.10(15)
(15) Construction of power relating to retirement plan transactions. In a statutory power of attorney, the language granting power with respect to retirement plan transactions empowers the agent to do all of the following:
243.10(15)(a)
(a) Select payment options under any retirement plan in which the principal participates, including plans for self-employed individuals.
243.10(15)(b)
(b) Designate beneficiaries under those plans and change existing designations.
243.10(15)(d)
(d) Exercise the investment powers available under any self-directed retirement plan.
243.10(15)(e)
(e) Make rollovers of plan benefits into other retirement plans.
243.10(15)(f)
(f) If authorized by the plan, borrow from, sell assets to and purchase assets from the plan.
243.10(16)
(16) Construction of power relating to tax matters. In a statutory power of attorney, the language granting power with respect to tax matters empowers the agent to do all of the following:
243.10(16)(a)
(a) Prepare, sign and file federal, state, local and foreign income, gift, payroll, federal insurance contributions act returns and other tax returns, claims for refunds, requests for extension of time, petitions regarding tax matters and any other tax-related documents, including receipts, offers, waivers, consents, including consents and agreements under section
2032A of the internal revenue code, closing agreements and any power of attorney required by the internal revenue service or other taxing authority with respect to a tax year upon which the statute of limitations has not run and the following 25 tax years.
243.10(16)(b)
(b) Pay taxes due, collect refunds, post bonds, receive confidential information and contest deficiencies determined by the internal revenue service or other taxing authority.
243.10(16)(c)
(c) Exercise any election available to the principal under federal, state, local or foreign tax law.
243.10(16)(d)
(d) Act for the principal in all tax matters for all periods before the internal revenue service and any other taxing authority.
243.10(17)
(17) Existing interests; foreign interests. The powers described in
subs. (3) to
(16) may be exercised equally with respect to an interest the principal has when the power of attorney is executed or acquires later, whether or not the property is located in this state, and whether or not the powers are exercised or the power of attorney is executed in this state.
243.10(18)
(18) Revocation of power of attorney. A principal may revoke his or her power of attorney and invalidate the power of attorney at any time by executing a statement, in writing, that is signed and dated by the principal, expressing the principal's intent to revoke the power of attorney. The statement may be recorded in the office of the register of deeds in the same counties where the statutory form of power of attorney was recorded under
sub. (1) (cm).
243.10(19)
(19) Uniformity of application and construction. This section shall be applied and construed to effectuate its general purpose to make uniform the law with respect to the subject of this section among states enacting it.
243.10 Annotation
Wisconsin's New Statutory Power of Attorney. Thedinga. Wis. Law. Sept. 1992.
