Under Wisconsin law, there are two different types of power of attorney. The first type, a power of attorney for health care, allows the maker to name an agent to make medical decisions if the principal (the person making the document) is deemed incompetent by two doctors. While many people think of the document as being about end-of-life decisions, it also empowers the agent to serve the principal by choosing treatment facilities and care plans for a variety of situations.
The second type of power of attorney is a financial power of attorney, most commonly called a durable power of attorney. The financial power of attorney, like the health care power of attorney, allows the principal to designate an agent or agents to make financial decisions, but it is a little different in that it is usually effective at the time it is signed, not at the time a person is deemed incompetent. This different is because banks, unlike hospitals, are not able to regularly check on the principal’s competence to determine whether the document is in force. To alleviate that potential confusion, mos ...
