A Wisconsin general power of attorney is a legal document that appoints a financial agent who will be authorized to make decisions regarding the property and finances of the principal. The agent can be granted the ability to oversee many different aspects of the principal’s finances, including their real estate, personal property, investments, financial accounts, business operations, insurance policies, trusts, legal claims, and retirement plans.
In accordance with state law, all powers of attorney are assumed to be durable unless the principal indicates otherwise. Therefore, the principal will need to state in the “Special Instructions” that the power of attorney is non-durable if they do not wish it to be. When signing the form, the principal will need to have their signature acknowledged by a notary public to make the document valid.
Durable Power of Attorney – The agent under this type of power of attorney retains their powers in the event that the principal is incapacitated.