How to Get Power of Attorney in Wisconsin
Power of attorney is a legal document that grants someone the authority to make decisions on behalf of another person, known as the principal. In Wisconsin, obtaining power of attorney is a crucial step in ensuring that your affairs are managed effectively in case you become incapacitated or unable to make decisions for yourself. This article will guide you through the process of how to get power of attorney in Wisconsin.
1. Understand the Types of Power of Attorney in Wisconsin
Wisconsin recognizes three types of power of attorney: general, durable, and health care. It is essential to understand the differences between these types to determine which one best suits your needs.
– General Power of Attorney: This type of power of attorney grants the agent the authority to make financial decisions on behalf of the principal. However, it becomes invalid if the principal becomes incapacitated.
– Durable Power of Attorney: A durable power of attorney remains in effect even if the principal becomes incapacitated. This type of power of attorney is often used for long-term planning and is highly recommended for individuals who want to ensure their affairs are managed in case of incapacity.
– Health Care Power of Attorney: This type of power of attorney grants the agent the authority to make medical decisions on behalf of the principal. It is crucial for individuals who want to ensure their healthcare wishes are respected in case they become unable to make decisions for themselves.
2. Choose an Agent
Selecting an agent is a critical step in obtaining power of attorney. The agent should be someone you trust and who is capable of making decisions on your behalf. It is advisable to choose someone who is financially literate if you are granting them authority over your financial affairs.
3. Draft the Power of Attorney Document
Wisconsin requires that power of attorney documents be in writing and signed by the principal. You can draft the document yourself or consult with an attorney to ensure it is legally sound. The document should include the following information:
– The name and address of the principal
– The name and address of the agent
– The scope of authority granted to the agent
– The effective date of the power of attorney
– Any limitations or conditions on the agent’s authority
4. Notarize the Document
In Wisconsin, power of attorney documents must be notarized to be legally valid. Visit a notary public and have the document notarized. The notary will witness the signing of the document and ensure that all parties are acting freely and without coercion.
5. Provide Copies to the Agent and Relevant Parties
Once the document is notarized, provide copies to the agent and any other relevant parties, such as financial institutions or healthcare providers. This will help ensure that the agent can act on your behalf as needed.
6. Review and Update the Power of Attorney
It is essential to review and update your power of attorney document regularly, especially if there are changes in your personal or financial situation. This will help ensure that your wishes are always respected and that the document remains legally valid.
By following these steps, you can obtain power of attorney in Wisconsin and ensure that your affairs are managed effectively in case of incapacity. Always consult with an attorney if you have any questions or concerns about the process.
