Form F-00036 - Designation Of Agent Page 6
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15IMPORTANT INFORMATION FOR AGENT
AGENT’S DUTIES
When you accept the authority granted under this Power of Attorney, a special legal relationship is created
between you and the principal. This relationship imposes upon you legal duties that continue until you resign
or the Power of Attorney is terminated or revoked. You must do all the following:
(1) Do what you know the principal reasonably expects you to do with the principal’s property or, if you do not
know the principal’s expectations, act in the principal’s best interest.
(2) Act in good faith.
(3) Do nothing beyond the authority granted in this Power of Attorney.
(4) Disclose your identity as an agent whenever you act for the principal by writing or printing the name of the
principal and signing your own name as “agent” in the following manner:
(principal’s name) by
(your signature) as agent
Unless the special instructions in the Power of Attorney state otherwise, you must also do all the following:
(1) Act loyally for the principal’s benefit.
(2) Avoid conflicts that would impair your ability to act in the principal’s best interest.
(3) Act with care, competence, and diligence.
(4) Keep a record of all receipts, disbursements, and transactions made on behalf of the principal.
(5) Cooperate with any person that has authority to make health-care decisions for the principal to do what you
know the principal reasonably expects or, if you do not know the principal’s expectations, to act in the
principal’s best interest.
(6) Attempt to preserve the principal’s estate plan if you know the plan and preserving the plan is consistent
with the principal’s best interest.
TERMINATION OF AGENT’S AUTHORITY
You must stop acting on behalf of the principal if you learn of any event that terminates this Power of Attorney
or your authority under this Power of Attorney. Events that terminate a Power of Attorney or your authority to
act under a Power of Attorney include all the following:
(1) Death of the principal
(2) The principal’s revocation of the Power of Attorney or your authority.
(3) The occurrence of a termination event stated in the Power of Attorney.
(4) The purpose of the Power of Attorney is fully accomplished.
(5) If you are married to the principal, a legal action is filed with a court to end your marriage, or for your legal
separation, unless the special instructions in this Power of Attorney state that such an action will not
terminate your authority.
(6) If you are the principal’s domestic partner and your domestic partnership is terminated, unless the special
instructions in this Power of Attorney state that such an action will not terminate your authority.
Wisconsin Power of Attorney for Finances and Property
Page 5
F-00036 (Rev. 08/2016)
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