This grants someone the authority to manage your financial affairs, such as banking transactions, real estate matters, or business dealings.
Example: A Financial Power of Attorney allows your chosen agent, such as a trusted family member or a financial advisor, to handle various financial matters on your behalf. This could include accessing bank accounts, managing investments, paying bills, and conducting real estate transactions.
This authorizes a trusted individual to make medical decisions on your behalf if you become incapacitated and are unable to communicate your wishes.
Example: With a Health Care Power of Attorney, you appoint a trusted individual, perhaps a close friend or family member, to make medical decisions for you if you are unable to do so. This person will work with healthcare providers to ensure your medical preferences and wishes are respected.
This grants limited powers to the designated person for specific tasks or a particular period.
Example: You might grant a Limited/Special Power of Attorney to a real estate agent to handle the sale of a property on your behalf while you are out of the country. This limited authority allows them to sign documents related to the property transaction during your absence.
This remains valid even if you become incapacitated, providing continuity in decision-making.
Example: A Durable Power of Attorney remains effective even if you become mentally incapacitated. This ensures that your chosen agent, perhaps a spouse or trusted family member, can continue managing your financial affairs or making medical decisions without interruption if you’re unable to communicate.
Financial Reasons – If someone can’t handle their money, like managing bank accounts or they just want someone else to take care of it, a power of attorney can really help. For example, if you’re selling a house, you could let a real estate agent use a power of attorney to close the deal for you. Or, if someone can’t take care of their financial tasks because they’re sick, they can give power of attorney to their child to pay bills, take care of taxes, or look after their investments.
We specialize in probate and estate administration. Schedule a consultation with attorney Konstantakis for all of your power of attorney needs!
Choose someone trustworthy and capable of handling the responsibilities outlined in the POA.
Work with an experienced attorney to create a legally binding power of attorney document that complies with Wisconsin state laws.
The document needs to be signed by you (the principal) and witnessed by two competent individuals. Some POAs require notarization.
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