Milwaukee Power of Attorney (POA)

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Types of power of attorney in Milwaukee

Financial POA

This grants someone the authority to manage your financial affairs, such as banking transactions, real estate matters, or business dealings.

Finances & Property (information pulled from: wilawlibrary.gov)
- Durable Powers of Attorney for Finances and Other Property (State Bar of WI)
- Revoking a Power of Attorney for Finances (GWAAR)
- Family estate planning in Wisconsin (UW Extension)
  Look for the “View Publication” link to read online for free.
- WI Power of Attorney for Finances & Property Form (WI Dept. of Health Services)
- WI Statutes: ch. 244 “Uniform Power of Attorney for Finances and Property”

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.

Health Care POA

This authorizes a trusted individual to make medical decisions on your behalf if you become incapacitated and are unable to communicate your wishes.

Health Care (information pulled from: wilawlibrary.gov)
- Power of Attorney for Health Care (WI Dept. of Health Services)
- Revoking a Power of Attorney for Health Care (GWAAR)
- Family estate planning in Wisconsin (UW Extension)
  Look for the “View Publication” link to read online for free.
- WI Statutes: ch. 155 “Power of Attorney for Health Care”

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.

Limited/Special POA

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.

Durable POA

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.

Why should i set up power of attorney in Milwaukee?

Milwaukee POA Lawyer

Ensuring Decision-Making Continuity: By appointing someone you trust as your agent, you ensure that decisions are made according to your wishes when you’re unable to express them.
Avoiding Court Intervention: Without a POA in place, court proceedings may be required to appoint a guardian or conservator, which can be time-consuming and costly.
Maintaining Control: You maintain control over who will handle your affairs in case of incapacity, ensuring it aligns with your preferences.
Medical Purposes – Imagine you’re in a bad accident and end up in a coma. It’d be smart to have a power of attorney set up for a family member or friend you trust. They could make medical choices for you while you can’t. This is also a good idea for older people who might struggle to make their own health decisions. They can pick someone like their child to make these decisions for them.
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.

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3 Step Guide to Success

Step 1: Select an Agent

Choose someone trustworthy and capable of handling the responsibilities outlined in the POA.

Step 2: Draft the Document

Work with an experienced attorney to create a legally binding power of attorney document that complies with Wisconsin state laws.

Step 3: Signing and Notarization

The document needs to be signed by you (the principal) and witnessed by two competent individuals. Some POAs require notarization.