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A power of attorney (POA) is a legally binding document that allows you to appoint someone to manage your property, medical, or financial affairs. Although it can be uncomfortable to think about needing it, a POA is an important part of your estate plan. A POA is typically used if you cannot manage your affairs.
One major downfall of a POA is the agent may act in ways or do things that the principal had not intended. There is no direct oversight of the agents activities by anyone other than you, the principal. This can lend a hand to situations such as elder financial abuse and/or fraud.
General power of attorney With a general power of attorney, you authorize your agent to act for you in all situations allowed by local law. This includes legal, financial, health, and business matters.
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.
While Wisconsin does not technically require you to get your POA docHubd, notarization is strongly recommended. Under Wisconsin law, when you sign your POA in the presence of a notary public, you signature is presumed to be genuinemeaning your POA is more ironclad.
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In 1982, Wisconsin (and other states) passed the Uniform Durable Power of Attorney Act (sec. 243.07, Stats.), which allows the Principal to appoint an Agent whose authority may continue even if the Principal becomes incompetent or incapacitated. A power of attorney giving an Agent this authority is durable.
Your LPA needs to be registered by the Court of Protection before it can be activated. You have two options, you can either register the Lasting Power of Attorney as soon as its in place and signed by you and your attorney, or leave it to be registered at a later date.
In Wisconsin, there are two main types of POAs. Healthcare Power of Attorney. This allows the person to make health care decisions on your behalf should you be unable to make them. Financial Power of Attorney.
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.
While Wisconsin does not technically require you to get your POA docHubd, notarization is strongly recommended. Under Wisconsin law, when you sign your POA in the presence of a notary public, you signature is presumed to be genuinemeaning your POA is more ironclad.

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