DURABLE POWER OF ATTORNEY FOR FINANCES AND PROPERTY

(State of Wisconsin)

TABLE OF CONTENTS

I. Document Header
II. Definitions
III. Operative Provisions – Grant of Authority
IV. Representations & Warranties
V. Covenants & Restrictions
VI. Default, Revocation & Remedies
VII. Risk Allocation
VIII. Dispute Resolution
IX. General Provisions
X. Execution Block & Statutory Notices

I. DOCUMENT HEADER

This Durable Power of Attorney for Finances and Property (this “Power of Attorney” or “POA”) is made effective as of [EFFECTIVE DATE] (the “Effective Date”) by and between:

1. [PRINCIPAL LEGAL NAME], residing at [PRINCIPAL ADDRESS] (the “Principal”); and
2. [AGENT LEGAL NAME], residing at [AGENT ADDRESS] (the “Agent”).

Recitals

A. The Principal desires to grant the Agent authority to manage, control, and dispose of the Principal’s property and financial affairs in accordance with the terms of this POA.
B. This POA is intended to be durable under Wis. Stat. § 244.04 and shall not be affected by the Principal’s subsequent incapacity.
C. This POA is executed in compliance with, and shall be governed by, the Wisconsin Uniform Power of Attorney for Finances and Property Act, Wis. Stat. ch. 244 (the “Act”).

II. DEFINITIONS

Alphabetically-arranged defined terms used in this POA include:

“Act” – Wis. Stat. ch. 244, as amended.
“Agent” – The individual or entity appointed in the Document Header, together with any Successor Agent acting pursuant to Section III.F.
“Assets Under Management” – All assets, accounts, and property subject to the Agent’s authority at any given time.
“Co-Agent” – Any person appointed to act concurrently with the Agent pursuant to Section III.E.
“Durable” – Having the meaning assigned in Wis. Stat. § 244.04; i.e., not terminated by the Principal’s incapacity.
“Effective Date” – The date stated in the Document Header, or such later date/event specified in Section III.B.
“Liability Cap” – The limitation of liability described in Section VII.B.
“Notice” – A written communication complying with Section IX.C.
“Principal” – The individual identified in the Document Header.
“State Probate Court” – The Circuit Court of the State of Wisconsin, Probate Division, for the county in which the Principal resides.
“Successor Agent” – A person designated under Section III.F to act if the Agent resigns, dies, is removed, or becomes unable to act.

[// GUIDANCE: Add or delete definitions to suit the specific engagement.]

III. OPERATIVE PROVISIONS – GRANT OF AUTHORITY

A. Scope of Authority. Subject to the limitations in this POA, the Principal grants to the Agent authority to act for the Principal with respect to all matters listed in Wis. Stat. §§ 244.44–244.56, including but not limited to:

1. Real Property Transactions
2. Tangible Personal Property Transactions
3. Banking and Other Financial Institution Transactions
4. Business Operations
5. Insurance and Annuities
6. Estates, Trusts, and Other Beneficial Interests
7. Claims and Litigation
8. Personal and Family Maintenance
9. Government Benefits
10. Retirement Plans
11. Taxes

[// GUIDANCE: Strike or supplement individual powers as desired by checking the appropriate boxes when finalizing the document.]

B. Commencement of Authority. The Agent’s authority [SELECT ONE]:
☐ begins on the Effective Date; OR
☐ begins upon the certification of a licensed physician that the Principal lacks capacity; OR
☐ begins upon the occurrence of the following event: [DESCRIBE].

C. Durability. This POA shall survive the Principal’s incapacity in accordance with Wis. Stat. § 244.04.

D. Special Instructions. The Principal [may/may not] authorize gifting, self-dealing, or other hot-power actions under Wis. Stat. § 244.41(2).
[// GUIDANCE: Insert any gifting limits, self-dealing prohibitions, or specific dollar caps here.]

E. Co-Agents. [INSERT “None” OR IDENTIFY CO-AGENT(S)]
Co-Agents shall act:
☐ Jointly; ☐ Severally; ☐ Jointly & Severally (default: jointly).

F. Successor Agent(s). If the Agent is unable or unwilling to serve, the following shall serve in the order listed:
1. [SUCCESSOR AGENT #1]
2. [SUCCESSOR AGENT #2]

G. Nomination of Guardian. If guardianship proceedings are commenced, the Principal nominates [NAME] to serve as guardian of the estate and/or person.

IV. REPRESENTATIONS & WARRANTIES

1. Principal’s Capacity. The Principal affirms that, on the Effective Date, the Principal is at least 18 years old, of sound mind, and under no duress or undue influence.
2. Agent’s Eligibility. The Agent represents that the Agent:
   a. is at least 18 years of age;
   b. is not currently disqualified under any court order; and
   c. will act in good faith and within the scope of authority granted herein.

The foregoing representations survive execution of this POA.

V. COVENANTS & RESTRICTIONS

A. Agent’s Fiduciary Duties (Wis. Stat. § 244.14). The Agent shall:
1. act in accordance with the Principal’s reasonable expectations or, if unknown, in the Principal’s best interest;
2. act in good faith;
3. act only within the scope of authority granted;
4. keep records of all receipts, disbursements, and transactions;
5. preserve the Principal’s estate plan, if consistent with the Principal’s best interest.

B. Compensation & Reimbursement. The Agent is entitled to:
1. reimbursement for reasonable expenses; and
2. [COMPENSATION TERMS OR “no additional compensation”].

C. Record-Keeping. The Agent shall maintain complete and accurate records for inspection upon reasonable request by the Principal, a guardian, or other authorized person.

D. Prohibited Acts. The Agent may not:
1. create or revoke a will;
2. make or revoke a health-care directive;
3. transfer powers granted under this POA except as expressly authorized.

VI. DEFAULT, REVOCATION & REMEDIES

A. Events of Default. The following constitute default:
1. breach of fiduciary duty;
2. misappropriation of Assets Under Management;
3. incapacity, resignation, or death of the Agent without a Successor Agent;
4. failure to comply with a court order.

B. Notice & Cure. Any person in interest may deliver Notice of default to the Agent, who shall have 30 days to cure before further remedies are pursued, unless irreparable harm is imminent.

C. Revocation by Principal. The Principal may revoke this POA at any time by:
1. executing a written revocation; and
2. delivering Notice of the revocation to the Agent and any relevant third parties.
Revocation is effective upon delivery in accordance with Wis. Stat. § 244.10.

D. Judicial Remedies. Upon default, any interested person may petition the State Probate Court for:
1. injunction;
2. accounting;
3. removal and surcharge of the Agent;
4. any other fiduciary remedy available at law or in equity.

E. Attorney Fees. The prevailing party in any action to enforce this POA shall be entitled to reasonable attorney fees and costs.

VII. RISK ALLOCATION

A. Indemnification. The Agent shall indemnify and hold harmless the Principal from any loss, liability, or expense arising from the Agent’s breach of fiduciary duty.

B. Limitation of Liability. Absent bad faith, willful misconduct, or gross negligence, the Agent’s aggregate liability shall not exceed the Assets Under Management at the time the cause of action arises (the “Liability Cap”).

C. Insurance. The Principal [REQUIRES/DOES NOT REQUIRE] the Agent to maintain fiduciary errors & omissions insurance in the minimum amount of $[AMOUNT].

D. Force Majeure. The Agent shall not be liable for failure to act when such failure results from events beyond the Agent’s reasonable control, including natural disasters, war, or governmental action.

VIII. DISPUTE RESOLUTION

A. Governing Law. This POA and all disputes hereunder are governed by the laws of the State of Wisconsin, without regard to conflict-of-law rules.

B. Forum Selection. Exclusive jurisdiction and venue shall lie in the State Probate Court for the county in which the Principal resides, except as provided in Section VIII.C.

C. Limited Arbitration. Monetary disputes not exceeding $[THRESHOLD] may, at the election of any party, be submitted to binding arbitration under the Wisconsin Arbitration Act (Ch. 788). Equitable relief and matters involving fiduciary removal remain within the State Probate Court.

D. Jury Waiver. To the fullest extent permitted by law, the parties waive trial by jury in any action arising out of this POA; provided, however, that if such waiver is unenforceable under applicable law, either party may demand a jury trial.

E. Injunctive Relief. Nothing herein limits the court’s power to issue injunctive relief to protect the Principal’s property or enforce fiduciary duties.

IX. GENERAL PROVISIONS

A. Amendment & Waiver. This POA may be amended only by a writing signed by the Principal before a notarial officer. No waiver of any provision shall be effective unless in a signed writing.

B. Assignment. The Agent may not delegate or assign any authority granted herein except as expressly permitted by the Act.

C. Notice. Any Notice under this POA must be in writing and delivered (i) personally, (ii) by certified mail, return receipt requested, or (iii) by nationally recognized overnight courier to the addresses stated in the Document Header (or as updated by Notice).

D. Severability. If any provision is held invalid, the remaining provisions shall remain in full force and effect, and the invalid provision shall be reformed to the minimum extent necessary to comply with applicable law.

E. Integration. This POA constitutes the entire agreement regarding the subject matter and supersedes all prior durable financial powers of attorney executed by the Principal, except as the Principal expressly states otherwise in writing.

F. Counterparts; Electronic Signatures. This POA may be executed in multiple counterparts and by electronic signature, each of which shall be deemed an original.

G. Headings. Section headings are for convenience only and shall not affect interpretation.

X. EXECUTION BLOCK & STATUTORY NOTICES

1. Principal’s Signature & Acknowledgment

plaintext

[PRINCIPAL LEGAL NAME], Principal
Date: _____
State of Wisconsin )
County of _______ ) ss.

On this ___ day of ____, 20__, before me, the undersigned notarial officer, personally appeared [PRINCIPAL LEGAL NAME], known to me or satisfactorily proven to be the person whose name is subscribed above, and acknowledged executing the foregoing Durable Power of Attorney for Finances and Property for the purposes therein contained.

Notary Public, State of Wisconsin
My commission: ____

2. Agent’s Certification & Acceptance (Wis. Stat. § 244.16)

The undersigned Agent hereby accepts the appointment, acknowledges fiduciary duties under the Act, and agrees to act in accordance with the terms of this POA.

plaintext

[AGENT LEGAL NAME], Agent
Date: ________

3. Optional Witness Attestation

[// GUIDANCE: Wisconsin law does not require witnesses; however, practitioners often add them for evidentiary value.]

We, the undersigned witnesses, declare that the Principal appeared to be of sound mind and free from duress at the time of signing and affirmed that this document is the Principal’s Durable Power of Attorney for Finances and Property.

plaintext
Witness #1: ___ Date: _
Address: _________

Witness #2: ___ Date: _
Address: _________

4. Cautionary Notice to Principal

[Required by Wis. Stat. § 244.14(1)(a). Attach full statutory text.]
[// GUIDANCE: Insert the verbatim statutory notice captioned “Important Information for the Person Giving this Power of Attorney.”]

5. Notice to Agent

[Required by Wis. Stat. § 244.14(1)(b). Attach full statutory text.]
[// GUIDANCE: Insert the verbatim statutory notice captioned “Important Information for Agent.”]

[// GUIDANCE:
1. Replace all [PLACEHOLDER] text before execution.
2. Provide each financial institution with a certified or original copy.
3. Record in the Register of Deeds if the Agent will transact real estate.]