Wisconsin Affidavit as to Principal's Competence at Time of Granting Power of Attorney
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How to fill out Affidavit As To Principal's Competence At Time Of Granting Power Of Attorney?
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FAQ
A power of attorney document is not valid in Wisconsin unless it is properly signed. You must sign and date your financial and health care powers of attorney. You do not need witnesses for a financial power of attorney, but you should have it notarized by a notary public.
If you initialed "real property," giving your agent the power to conduct transactions with real estate, you should also file a copy of your POA in the land records office in the county where you own real estate or expect to deal with real estate in the future. In Wisconsin, this office is called the register of deeds.
(1) A power of attorney terminates when any of the following occurs: (a) The principal dies. (b) The principal becomes incapacitated, if the power of attorney so provides. (c) The principal revokes the power of attorney.
Per Wis. Stat. § 155.40(1), ?a principal may revoke his or her power of attorney for health care and invalidate the power of attorney for health care instrument at any time?? Id. No provision requires the principal to be capacitated ? the law states the principal may revoke his or her HCPOA ?at any time.?
The POA is often used when the principal can't be present to sign necessary legal documents for a financial transaction. A durable power of attorney remains in effect if the principal becomes ill or disabled and cannot act personally.
In Wisconsin, there are two main types of powers of attorney: the power of attorney for finances and property (also called a financial power of attorney) and the power of attorney for health care.
A Durable Power of Attorney allows your agent to act even if you become incapacitated or incompetent. If you do not have a Durable Power of Attorney and you become incompetent, it may be necessary for your family to ask the court to appoint a guardian for you.
