244.14 Agent’s duties.

249 words·~1 min read·/wi/chapter-244/244-14-2

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(1)Notwithstanding any provisions to the contrary in the power of attorney, an agent who has accepted appointment shall do all of the following:

(a)Act in accordance with the principal’s reasonable expectations to the extent actually known by the agent and, if those expectations are not known, in the principal’s best interest.

(b)Act in good faith.

(c)Act only within the scope of authority granted in the power of attorney.

(2)Except as otherwise provided in the power of attorney, an agent who has accepted an appointment shall do all of the following:

(a)Act loyally for the principal’s benefit.

(b)Act so as not to create a conflict of interest that impairs the agent’s ability to act impartially in the principal’s best interest.

(c)Act with the care, competence, and diligence ordinarily exercised by agents in similar circumstances.

(d)Keep a record of all receipts, disbursements, and transactions made on behalf of the principal.

(e)Cooperate with a person that has authority to make health-care decisions for the principal to carry out the principal’s reasonable expectations to the extent actually known by the agent and, if those expectations are not known, act in the principal’s best interest.

(f)Attempt to preserve the principal’s estate plan, to the extent actually known by the agent, if preserving the plan is consistent with the principal’s best interest based on all relevant factors, including all of the following:

1. The value and nature of the principal’s property.