The state Legislature is considering updates to Wisconsin’s durable power of attorney laws which would provide more protection for principals, agents and third-party institutions.
Proposals in both the Senate (SB 529) and Assembly (AB 704) modernizes current law to give people, especially those that may be incapacitated, a better ability to have their power of attorney documents accepted by banks or other financial entities.
It also establishes a revised statutory form that clearly outlines the responsibilities and limits of an agent in an effort to curb abuses of power of attorney.
Committees in both the Senate (SB 529) and Assembly (AB 704) held public hearings last week on the bills which are based on the 2006 Uniform Power of Attorney Act.
Sen. Fred Risser is a co-sponsor of the bill and a spokesperson from his office said Wisconsin is following the trend of other states that have used the uniform act as a model for changing local statutes.
And attorneys in the trusts and estates and elder law areas say the updates are overdue.
Full Article and Source:
Legislature Looks to Make Power of Attorney More Durable
I believe the PoA laws do need to be tightened to ward off criminal activity.
ReplyDeletePeople in general need to be reminded that when they act in the PoA capacity, they are acting in a position of trust.
what about consequences for misuse and abuse?
ReplyDeleteThe updates should be about criminal penalties for those who abuse a PoA, or the updates won't be worth a pound of salt.
ReplyDeleteAbuse of PoA can and usually does lead the victim into guardianship / conservatorship.
ReplyDeleteI agree laws are written with loopholes as big as sinkholes - caution what looks good and sounds good doesn't mean it is good.
ReplyDeleteLanguage of the laws are approved and finalized by: L A W Y E R S
What is the purpose of updating the laws? So there are new laws to violate?
ReplyDelete