Chapter 244, UNIFORM POWER OF ATTORNEY FOR FINANCES AND PROPERTY

244.01 Short title. This chapter may be cited as the Uniform Power of Attorney for Finances and Property Act. History: 2009 a. 319. Procedural Gray Areas: New POA for Finances. Beermann & Johnson. Wis. Law. Oct. 2011.

244.02 Definitions. In this chapter: (1) “Agent” means a person granted authority to act for a principal under a power of attorney, whether denominated an agent, attorney-in-fact, or otherwise. (2) “Domestic partner” has the meaning given in s. 770.01 (1). (3) “Durable power of a…

244.03 Applicability. This chapter applies to all powers of attorney except for the following: (1) A power to the extent it is coupled with an interest in the subject of the power, including a power given to or for the benefit of a creditor in connection with a credit transaction…

244.04 Power of attorney is durable. A power of attorney created under this chapter is durable unless it expressly provides that it is terminated by the incapacity of the principal. History: 2009 a. 319.

244.05 Execution of power of attorney. (1) To execute a power of attorney, the principal must sign the power of attorney, or an individual 18 years of age or older at the express direction and in the physical presence of the principal must sign the principal’s name on the power o…

244.06 Validity of power of attorney. (1) A power of attorney executed in this state on or after September 1, 2010, is valid if its execution complies with s. 244.05. (2) A power of attorney executed in this state before September 1, 2010, is valid if its execution complied with …

244.07 Meaning and effect of power of attorney. (1) The meaning and effect of a power of attorney is determined by the law of the jurisdiction indicated in the power of attorney and, UNIFORM POWER OF ATTORNEY in the absence of an indication of jurisdiction in the power of attorne…

244.08 Nomination of guardian; relation of agent to court-appointed fiduciary. (1) In a power of attorney, a principal may nominate a guardian of the principal’s estate or guardian of the principal’s person for consideration by the court if protective proceedings for the principa…

244.09 When a power of attorney is effective. (1) A power of attorney is effective when executed unless the principal provides in the power of attorney that it becomes effective at a future date or upon the occurrence of a future event or contingency. (2) If a power of attorney b…

244.10 Termination of power of attorney or agent’s authority. (1) A power of attorney terminates when any of the following occurs: (a) The principal dies. (b) The principal becomes incapacitated, if the power of attorney so provides. (c) The principal revokes the power of attorne…

244.11 Coagents and successor agents. (1) A principal may designate in a power of attorney 2 or more persons to act as coagents. Unless the power of attorney otherwise provides, each coagent may exercise its authority independently. (2) A principal may designate in a power of att…

244.12 Reimbursement and compensation of agent. Except as otherwise provided in the power of attorney, an agent is entitled to reimbursement of any expenses reasonably incurred on behalf of the principal and to compensation that is reasonable under the circumstances. History: 200…

244.13 Agent’s acceptance. Except as otherwise provided in the power of attorney, a person accepts appointment as an agent under a power of attorney by exercising authority or performing duties as an agent or by any other assertion or conduct indicating acceptance. History: 2009 …

244.14 Agent’s duties. (1) Notwithstanding any provisions to the contrary in the power of attorney, an agent who has accepted appointment shall do all of the following: (a) Act in accordance with the principal’s reasonable expectations to the extent actually known by the agent an…

244.15 Exoneration of agent. A provision in a power of attorney relieving an agent of liability for breach of duty is binding on the principal and the principal’s successors in interest except to the extent that the provision does any of the following: (1) Relieves the agent of l…

244.16 Judicial relief. (1) The following persons may petition the circuit court of the county where the principal is present or of the county of the principal’s legal residence to construe a power of attorney or review the agent’s conduct, and grant appropriate relief: (a) The p…

244.17 Agent’s liability. An agent who violates this chapter is liable to the principal or the principal’s successors in interest for the amount required to do all of the following: (1) Restore the value of the principal’s property to what it would have been had the violation not…

244.18 Agent’s resignation; notice. Unless the power of attorney provides a different method for an agent’s resignation, an agent may resign by giving notice to the principal and, if the principal is incapacitated, to any of the following: (1) To the guardian, if one has been app…

244.19 Protection of persons that accept and rely upon an acknowledged power of attorney. (1) For purposes of this section and s. 244.20, “acknowledged” means the taking of an acknowledgment before a notarial officer authorized to take acknowledgements under ch. 140. (2) A person…

244.20 Refusal to accept acknowledged power of attorney. (1) A person may, in good faith, refuse to accept an acknowledged power of attorney within 10 business days of presentment if any of the following applies: (a) The person is not otherwise required to engage in a transaction…

244.21 Laws applicable to financial institutions and entities. This chapter does not supersede any other law applicable to financial institutions or insurance companies, and the other law controls if in conflict with this chapter. History: 2009 a. 319. SUBCHAPTER II AUTHORITY

244.41 Authority that requires specific grant, grant of general authority. (1) An agent under a power of attorney may do any of the following on behalf of the principal or with the principal’s property only if the power of attorney expressly grants the agent the authority and the…

244.42 Incorporation of authority. (1) An agent has the authority described in this subchapter if the power of attorney refers to general authority as indicated by section titles for ss. 244.44 to 244.56 or cites the section in which the authority is described. (2) A reference in…

244.43 Construction of authority generally. Except as otherwise provided in the power of attorney, by executing a power of attorney that incorporates by reference a subject described in ss. 244.44 to 244.56 or that grants to an agent authority to do all acts that a principal coul…

244.44 Real property. Unless the power of attorney otherwise provides, language in a power of attorney granting general authority with respect to real property authorizes the agent to do all of the following: (1) Demand, buy, lease, receive, accept as a gift or as security for an…

244.445 Digital property. Unless the power of attorney otherwise provides, language in a power of attorney granting general authority with respect to digital property authorizes the agent, subject to s. 711.06 (1), to do all of the following: (1) Find, access, manage, protect, di…

244.45 Tangible personal property. Unless the power of attorney otherwise provides, language in a power of attorney granting general authority with respect to tangible personal property authorizes the agent to do all of the following: (1) Demand, buy, receive, accept as a gift or…

244.46 Stocks and bonds. Unless the power of attorney otherwise provides, language in a power of attorney granting general authority with respect to stocks and bonds authorizes the agent to do all of the following: (1) Buy, sell, and exchange stocks and bonds. (2) Establish, cont…

244.47 Commodities and options. Unless the power of attorney otherwise provides, language in a power of attorney granting general authority with respect to commodities and options authorizes the agent to do all of the following: (1) Buy, sell, exchange, assign, settle, and exerci…

244.48 Banks and other financial institutions. Unless the power of attorney otherwise provides, language in a power of attorney granting general authority with respect to banks and other financial institutions authorizes the agent to do all of the following: (1) Continue, modify,…

244.49 Operation of entity or business. Subject to the terms of a document or an agreement governing an entity or business or an entity or business ownership interest, and unless the power of attorney otherwise provides, language in a power of attorney granting general authority …

244.50 Insurance and annuities. Unless the power of attorney otherwise provides, language in a power of attorney granting general authority with respect to insurance and annuities authorizes the agent to do all of the following: (1) Continue, pay the premium or make a contributio…

244.51 Estates, trusts, and other beneficial interests. (1) In this section, “estates, trusts, and other beneficial interests” means a trust, probate estate, guardianship, conservatorship, escrow, or custodianship or a fund from which the principal is, may become, or claims to be…

244.52 Claims and litigation. Unless the power of attorney otherwise provides, language in a power of attorney granting general authority with respect to claims and litigation authorizes the agent to do all of the following: (1) Assert and maintain before a court or administrativ…

244.53 Personal and family maintenance. (1) Unless the power of attorney otherwise provides, language in a power of attorney granting general authority with respect to personal and family maintenance authorizes the agent to do all of the following: (a) Perform the acts necessary …

244.54 Benefits from governmental programs or civil or military service. (1) In this section, “benefits from governmental programs or civil or military service” means any benefit, program or assistance provided under a statute, rule, or regulation, including social security, medi…

244.55 Retirement plans. (1) In this section, “retirement plan” means a plan or account created by an employer, the principal, or another individual to provide retirement benefits or deferred compensation of which the principal is a participant, beneficiary, or owner, including t…

244.56 Taxes. Unless the power of attorney otherwise provides, language in a power of attorney granting general authority with respect to taxes authorizes the agent to do all of the following: (1) Prepare, sign, and file federal, state, local, and foreign income, gift, payroll, p…

244.57 Gifts. (1) In this section, a gift “for the benefit of” a person includes a gift to a trust, an account under ss. 54.854 to 54.898, and a tuition savings account or prepaid tuition plan as defined under section 529 of the Internal Revenue Code. (2) Unless the power of atto…

244.61 Statutory Form Power of Attorney for Finances and Property. A document substantially in the following form may be used to create a statutory form power of attorney that has the meaning and effect prescribed by this chapter. An appendix shall be attached to this form that i…

244.62 Agent’s certification. The following optional form may be used by an agent to certify facts concerning a power of attorney for finances and property: AGENT’S CERTIFICATION AS TO THE VALIDITY OF POWER OF ATTORNEY FOR FINANCES AND PROPERTY AND AGENT’S AUTHORITY State of ....…

244.63 Distribution of forms. The department of health services shall prepare and provide copies of the Wisconsin statutory form power of attorney for finances and property for distribution in quantities to financial institutions, health care professionals, hospitals, nursing hom…

244.64 Relation to power of attorney for health care. (9) “Power of attorney” means a writing or other record that grants authority to an agent to act in the place of the principal, whether or not the term power of attorney is used. (10) “Presently exercisable general power of ap…