243.10(5)(d)2.
2. Obtaining or regaining possession, or protecting the property or interest, by litigation or otherwise.
243.10(5)(d)3.
3. Paying, compromising or contesting taxes or assessments or applying for and receiving refunds in connection with taxes or assessments.
243.10(6)
(6) Construction of power relating to stock and bond transactions. In a statutory power of attorney, the language granting power with respect to stock and bond transactions empowers the agent to buy, sell and exchange stocks, bonds, mutual funds and all other types of securities and financial instruments except commodity futures contracts, to call and put options on stocks and stock indexes, to receive certificates and other evidences of ownership with respect to securities, to exercise voting rights with respect to securities in person or by proxy, to enter into voting trusts and to consent to limitations on the right to vote.
243.10(7)
(7) Construction of power relating to commodity and option transactions. In a statutory power of attorney, the language granting power with respect to commodity and option transactions empowers the agent to buy, sell, exchange, assign, settle and exercise commodity futures contracts, to call and put options on stocks and stock indexes traded on a regulated option exchange and to establish, continue, modify and terminate option accounts with a broker.
243.10(8)
(8) Construction of power relating to banking and other financial institution transactions. In a statutory power of attorney, the language granting power with respect to banking and other financial institution transactions empowers the agent to do all of the following:
243.10(8)(a)
(a) Continue, modify and terminate an account or other banking arrangement made by or on behalf of the principal.
243.10(8)(b)
(b) Establish, modify and terminate an account or other banking arrangement with a bank, trust company, savings and loan association, credit union, thrift company, brokerage firm or other financial institution selected by the agent.
243.10(8)(c)
(c) Hire a safe deposit box or space in a vault.
243.10(8)(d)
(d) Contract to procure other services available from a financial institution as the agent considers desirable.
243.10(8)(e)
(e) Withdraw by check, order or otherwise money or property of the principal deposited with or left in the custody of a financial institution.
243.10(8)(f)
(f) Receive bank statements, vouchers, notices and similar documents from a financial institution and act with respect to them.
243.10(8)(g)
(g) Enter a safe deposit box or vault and withdraw or add to the contents.
243.10(8)(h)
(h) Borrow money at an interest rate agreeable to the agent and pledge as security personal property of the principal necessary in order to borrow, pay, renew or extend the time of payment of a debt of the principal.
243.10(8)(i)
(i) Make, assign, draw, endorse, discount, guarantee and negotiate promissory notes, checks, drafts and other negotiable or nonnegotiable paper of the principal, or payable to the principal or to the principal's order, receive the cash or other proceeds of those transactions, accept a draft drawn by a person upon the principal and pay it when due.
243.10(8)(j)
(j) Receive for the principal and act upon a sight draft, warehouse receipt or other negotiable or nonnegotiable instrument.
243.10(8)(k)
(k) Apply for and receive letters of credit, credit cards and traveler's checks from a financial institution, and give an indemnity or other agreement in connection with letters of credit.
243.10(8)(L)
(L) Consent to an extension of the time of payment with respect to commercial paper or a financial transaction with a financial institution.
243.10(9)
(9) Construction of power relating to business operating transactions. In a statutory power of attorney, the language granting power with respect to business operating transactions empowers the agent to do all of the following:
243.10(9)(a)
(a) Operate, buy, sell, enlarge, reduce and terminate a business interest.
243.10(9)(b)
(b) To the extent that an agent is permitted by law to act for a principal and subject to the terms of the partnership agreement to do all of the following:
243.10(9)(b)1.
1. Perform a duty or discharge a liability and exercise a right, power, privilege or option that the principal has, may have or claims to have under a partnership agreement, whether or not the principal is a partner.
243.10(9)(b)2.
2. Enforce the terms of a partnership agreement by litigation or otherwise.
243.10(9)(b)3.
3. Defend, submit to arbitration, settle or compromise litigation to which the principal is a party because of membership in the partnership.
243.10(9)(c)
(c) Exercise in person or by proxy, or enforce by litigation or otherwise, a right, power, privilege or option the principal has or claims to have as the holder of a bond, share or other instrument of similar character, and defend, submit to arbitration, settle or compromise litigation to which the principal is a party because of a bond, share or similar instrument.
243.10(9)(d)
(d) With respect to a business owned solely by the principal, do all of the following:
243.10(9)(d)1.
1. Continue, modify, renegotiate, extend and terminate a contract made with an individual or a legal entity, firm, association or corporation by or on behalf of the principal with respect to the business before execution of the power of attorney.
243.10(9)(d)2.c.
c. The methods of manufacturing, selling, merchandising, financing, accounting and advertising employed in its operation.
243.10(9)(d)2.e.
e. The mode of engaging, compensating and dealing with its accountants, attorneys and other agents and employes.
243.10(9)(d)3.
3. Change the name or form of organization under which the business is operated and enter into a partnership agreement with other persons or organize a corporation to take over all or part of the operation of the business.
243.10(9)(d)4.
4. Demand and receive money due or claimed by the principal or on the principal's behalf in the operation of the business, and control and disburse the money in the operation of the business.
243.10(9)(e)
(e) Put additional capital into a business in which the principal has an interest.
243.10(9)(f)
(f) Join in a plan of reorganization, consolidation or merger of the business.
243.10(9)(g)
(g) Sell or liquidate a business or part of it at the time and upon the terms the agent considers desirable.
243.10(9)(h)
(h) Establish the value of a business under a buy-out agreement to which the principal is a party.
243.10(9)(i)
(i) Prepare, sign, file and deliver reports, compilations of information, returns or other papers with respect to a business which are required by a governmental agency or instrumentality or which the agent considers desirable, and make related payments
243.10(9)(j)
(j) Pay, compromise or contest taxes or assessments and do any other act which the agent considers desirable to protect the principal from illegal or unnecessary taxation, fines, penalties or assessments with respect to a business, including attempts to recover, in any manner permitted by law, money paid before or after the execution of the power of attorney.
243.10(10)
(10) Construction of power relating to insurance transactions. In a statutory power of attorney, the language granting power with respect to insurance and annuity transactions empowers the agent to do all of the following:
243.10(10)(a)
(a) Continue, pay the premium or assessment on, modify, rescind, release or terminate a contract procured by or on behalf of the principal which insures or provides an annuity to either the principal or another person, whether or not the principal is a beneficiary under the contract.
243.10(10)(b)
(b) Procure new, different and additional contracts of insurance and annuities for the principal and the principal's spouse, children and other dependents; and select the amount, type of insurance or annuity and mode of payment.
243.10(10)(c)
(c) Pay the premium or assessment on, modify, rescind, release or terminate a contract of insurance or annuity procured by the agent.
243.10(10)(d)
(d) Designate the beneficiary of the contract, or an extension, renewal or substitute of a contract, unless an agent was named a beneficiary of a contract, extension, renewal or substitute of a contract by the principal before executing the power of attorney.
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.
