Wisconsin Basic Power of Attorney For Finances And Property is a form that allows a Wisconsin resident to legally appoint another person (the “agent”) to manage their financial affairs. The agent is given the authority to make decisions on the principal's behalf regarding their assets, investments, and other financial matters. The Wisconsin Basic Power of Attorney form includes the ability for the principal to specify the scope of the agent’s powers and to limit the authority granted. There are three types of Wisconsin Basic Power of Attorney For Finances And Property: a general power of attorney, a limited power of attorney, and a durable power of attorney. A general power of attorney grants the agent wide authority to manage the principal’s finances and property, including the ability to make investments, enter into contracts, and open bank accounts. A limited power of attorney grants the agent only the specific powers that the principal outlines in the document. A durable power of attorney is similar to a general power of attorney, but it remains in effect even if the principal becomes incapacitated. This type of power of attorney is often used for long-term financial management.