Your Power of Attorney (POA) is one of the most important legal documents you can have. It gives someone you trust the authority to make financial, legal, or healthcare decisions on your behalf if you can’t do so yourself.
But as life changes, your POA may need to change too. Whether your chosen agent has moved away, become unable to serve, or your circumstances have shifted, it’s essential to keep this document up to date.
Here are some key tips for reviewing and updating your Power of Attorney:
✅ Review Your Current POA
Before making any updates, carefully review your existing POA to understand what it covers and who has the authority to act for you. If the designated agent is no longer appropriate because of relocation, incapacity, or other reasons, it’s time to update the document.
✅ Choose a Trusted Agent
Select someone reliable, trustworthy, and capable of handling the responsibilities that come with the role. It’s also wise to name a backup agent in case your primary choice is unavailable or unable to serve when needed.
✅ Draft a New POA
When you update your Power of Attorney, you’ll need to create a new document. Wisconsin law does not allow you to simply cross out or edit the old one. Clearly state in the new POA that any previous versions are revoked and no longer valid.
✅ Sign Properly
In Wisconsin, financial powers of attorney must be signed and notarized. Healthcare powers of attorney must be signed in the presence of two qualified adult witnesses who are not named as agents, relatives, or healthcare providers.
✅ Distribute and Communicate Changes
Once your new POA is signed, make sure to provide updated copies to your agent, backup agent, family members, healthcare providers, and financial institutions. If you revoke an older version, notify anyone who may still have a copy to prevent confusion.
By taking these steps, you can ensure your Power of Attorney reflects your current wishes and gives your loved ones clarity and peace of mind.
At Hougum Law Firm, LLC, we help Wisconsin families review, update, and protect their essential estate planning documents so they’re ready for whatever life brings.
Contact us today to schedule a consultation and make sure your Power of Attorney still works for you and your loved ones.
Wausau: 715-843-5001
www.hougumlaw.com
