Wisconsin Statutes 244.10 – Termination of power of attorney or agent’s authority
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Terms Used In Wisconsin Statutes 244.10
- Following: when used by way of reference to any statute section, means the section next following that in which the reference is made. See Wisconsin Statutes 990.01
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Person: includes all partnerships, associations and bodies politic or corporate. See Wisconsin Statutes 990.01
- Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. Source: OCC
(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.
(d) The power of attorney provides that it terminates.
(e) The purpose of the power of attorney is accomplished.
(f) The principal revokes the agent’s authority or the agent dies, becomes incapacitated, or resigns, and the power of attorney does not provide for another agent to act under the power of attorney.
(2) An agent’s authority terminates when any of the following occurs:
(a) The principal revokes the authority.
(b) The agent dies, becomes incapacitated, or resigns.
(c) An action is filed for the dissolution or annulment of the agent’s marriage to the principal or their legal separation, unless the power of attorney otherwise provides.
(d) The power of attorney terminates.
(e) The domestic partnership of the principal and agent under ch. 770 is terminated unless the power of attorney otherwise provides.
(3) Unless the power of attorney otherwise provides, an agent’s authority is exercisable until the authority terminates under sub. (2), notwithstanding a lapse of time since the execution of the power of attorney.
(4) Termination of an agent’s authority or of a power of attorney is not effective as to the agent or another person that, without actual knowledge of the termination, acts in good faith under the power of attorney. An act so performed, unless otherwise invalid or unenforceable, binds the principal and the principal’s successors in interest.
(5) Incapacity of the principal of a power of attorney that is not durable does not revoke or terminate the power of attorney as to an agent or other person that, without actual knowledge of the incapacity, acts in good faith under the power of attorney. An act so performed, unless otherwise invalid or unenforceable, binds the principal and the principal’s successors in interest.
(6) The execution of a power of attorney does not revoke a power of attorney previously executed by the principal unless the subsequent power of attorney provides that the previous power of attorney is revoked or that all other powers of attorney are revoked.