The Wisconsin Durable (Financial) Power of Attorney assembles a formal legal arrangement to authorize an assigned individual a broad set of rights to act on behalf an another. The standardized contract coveys chosen controls to be managed by an alternate person with the authorized principal’s express permission. The form serves to issue the rights for specified financial dealings related to the issuing party and their property, tax, and investment matters. The advantage of the “durable” agreement is that it grants controls to the named agent for a period to extend past the point of their becoming incapable of managing themselves due to unforeseen severe illness or debilitation of mental faculties. Mapped out in the accord are stipulations as to the ascribing principal, the nominated attorney-in-fact, and the agent’s permissions to act for the declarant. As this type of contractual obligation is a consequential decision, attention to drafting the contents should be thought out and examined thoroughly prior to execution.
Laws
Statute – Uniform Power of Attorney for Finances and Property – § 244-01 – 244-64
Definition – “Durable power of attorney” means a power of attorney that is not terminated by the principal’s incapacity (§ 244-02).
Signing Requirements – Acknowledgment of the document’s signing must be performed by a professional notary (§ 244-05).
Other Versions
Wisconsin Durable (Financial) Power of Attorney – Version 1
Download: Adobe PDF, MS Word (.docx)
Wisconsin Durable (Financial) Power of Attorney – Version 2
Download: Adobe PDF
Additional Resources
- State Bar of Wisconsin – Durable Powers of Attorney for Finances and Other Property
- State of Wisconsin Department of Revenue – Changes to Power of Attorney Law
- Wisconsin State Law Library – Power of Attorney
Related Forms
Advance Directive (Medical POA & Living Will)
Download: Adobe PDF
General (Financial) Power of Attorney
Download: Adobe PDF