The Department of Employee Trust Funds has published new web pages on power of attorney documents and guardianship orders. Both pages provide information and resources on these important topics and how they pertain to Wisconsin Retirement System benefits.
Financial Power of Attorney
As a WRS member, you can authorize someone to make changes to your account by submitting a financial power of attorney document to ETF. This is a legal document that allows you (the “principal”) to choose a person (the “agent”) to act on your behalf. This document can impact your WRS account, as well as other finances and property. However, ETF can only provide information about how this will impact your WRS account. An attorney can provide information on how a financial power of attorney document affects your other finances and properties.
ETF’s new Financial Power of Attorney page centers on how to create, submit, or revoke a power of attorney document; what an agent can do; and has information about statements of incapacity. Note: A financial power of attorney document is different than a power of attorney for health care. ETF cannot accept power of attorney for health care documents because they relate to making medical decisions.
Guardianship
A guardian is appointed by a court when a member is unable to make or communicate medical decisions, financial decisions, or both. ETF’s new Guardianship page explains ETF’s role in guardianships; how to submit, change, or terminate a guardianship order; and what a guardian can do. ETF cannot advise you on the guardianship process. ETF can only provide information about how Letters of Guardianship can impact a WRS account.