Wisconsin Statutes & Annotations
Chapter 701 - Trusts.

701.0303 - Representation by fiduciaries, parents, or a person appointed by a trustee. - 701.0303 Representation by fiduciaries, parents, or a person appointed by...

701.0304 - Representation by person having substantially identical interest. - 701.0304 Representation by person having substantially identical interest. Unless otherwise...

701.0305 - Appointment of representative by a court. - 701.0305 Appointment of representative by a court. (1) If the...

701.0401 - Methods of creating a trust. - 701.0401 Methods of creating a trust. A trust may be...

701.0402 - Requirements for creation. - 701.0402 Requirements for creation. (1) A trust is created only...

701.0403 - Trusts created in other jurisdictions. - 701.0403 Trusts created in other jurisdictions. A trust not created...

701.0404 - Trust purposes. - 701.0404 Trust purposes. A trust may be created only to...

701.0405 - Charitable purposes; enforcement. - 701.0405 Charitable purposes; enforcement. (1) A charitable trust may be...

701.0406 - Creation of trust induced by fraud, duress, or undue influence. - 701.0406 Creation of trust induced by fraud, duress, or undue...

701.0407 - Evidence of oral trust. - 701.0407 Evidence of oral trust. Except as required by a...

701.0408 - Trust for care of animal. - 701.0408 Trust for care of animal. (1) A trust may...

701.0409 - Noncharitable trust without ascertainable beneficiary. - 701.0409 Noncharitable trust without ascertainable beneficiary. Except as otherwise provided...

701.0410 - Modification or termination of trust; proceedings for approval or disapproval. - 701.0410 Modification or termination of trust; proceedings for approval or...

701.0411 - Modification or termination of noncharitable irrevocable trust by consent. - 701.0411 Modification or termination of noncharitable irrevocable trust by consent....

701.0412 - Modification or termination because of unanticipated circumstances or inability to administer trust effectively. - 701.0412 Modification or termination because of unanticipated circumstances or inability...

701.0413 - Cy pres. - 701.0413 Cy pres. (1) The purpose of this section is...

701.0414 - Modification or termination of uneconomic trust. - 701.0414 Modification or termination of uneconomic trust. (1) In this...

701.0415 - Reformation to correct mistakes. - 701.0415 Reformation to correct mistakes. The court may reform the...

701.0416 - Modification to achieve settlor's tax objectives. - 701.0416 Modification to achieve settlor's tax objectives. To achieve the...

701.0417 - Combination and division of trusts. - 701.0417 Combination and division of trusts. (1) After notice to...

701.0418 - Trustee's power to appoint assets to new trust. - 701.0418 Trustee's power to appoint assets to new trust. (1)...

701.0419 - Transfers to trusts. - 701.0419 Transfers to trusts. (1) Validity and effect. The order...

701.0501 - Rights of beneficiary's creditor or assignee. - 701.0501 Rights of beneficiary's creditor or assignee. (1) (a) To...

701.0502 - Spendthrift provision. - 701.0502 Spendthrift provision. (1) A spendthrift provision is valid only...

701.0503 - Exceptions to spendthrift provision. - 701.0503 Exceptions to spendthrift provision. (1) Claims for child support....

701.0504 - Discretionary trusts; effect of standard. - 701.0504 Discretionary trusts; effect of standard. (1) For purposes of...

701.0505 - Creditor's claim against settlor. - 701.0505 Creditor's claim against settlor. (1) (a) Whether or not...

701.0506 - Overdue distribution. - 701.0506 Overdue distribution. (1) In this section, “mandatory distribution" means...

701.0507 - Personal obligations of trustee. - 701.0507 Personal obligations of trustee. Trust property is not subject...

701.0508 - Debts of decedents. - 701.0508 Debts of decedents. (1) Limitations on claims. (a) 1....

701.0601 - Capacity of settlor of revocable trust. - 701.0601 Capacity of settlor of revocable trust. The capacity required...

701.0602 - Revocation or amendment of revocable trust. - 701.0602 Revocation or amendment of revocable trust. (1) Unless the...

701.0603 - Settlor's powers; powers of withdrawal. - 701.0603 Settlor's powers; powers of withdrawal. (1) While a trust...

701.0604 - Limitation on action contesting validity of revocable trust; distribution of trust property. - 701.0604 Limitation on action contesting validity of revocable trust; distribution...

701.0701 - Accepting or declining trusteeship. - 701.0701 Accepting or declining trusteeship. (1) Except as provided in...

701.0702 - Trustee's bond. - 701.0702 Trustee's bond. (1) A trustee shall give bond to...

701.0703 - Cotrustees. - 701.0703 Cotrustees. (1) Cotrustees may act only by majority decision....

701.0704 - Vacancy in trusteeship; appointment of successor. - 701.0704 Vacancy in trusteeship; appointment of successor. (1) A vacancy...

701.0705 - Resignation of trustee. - 701.0705 Resignation of trustee. (1) A trustee may resign in...

701.0706 - Removal of trustee. - 701.0706 Removal of trustee. (1) The settlor, a cotrustee, or...

701.0707 - Delivery of property by former trustee. - 701.0707 Delivery of property by former trustee. (1) Unless a...

701.0708 - Compensation of trustee. - 701.0708 Compensation of trustee. (1) If the terms of a...

701.0709 - Reimbursement of expenses. - 701.0709 Reimbursement of expenses. (1) A trustee is entitled to...

701.0710 - Title of trust property. - 701.0710 Title of trust property. A settlor or transferor may...

701.0801 - Duty to administer trust. - 701.0801 Duty to administer trust. Upon acceptance of a trusteeship,...

701.0802 - Duty of loyalty. - 701.0802 Duty of loyalty. (1) A trustee shall administer the...

701.0803 - Impartiality. - 701.0803 Impartiality. If a trust has 2 or more beneficiaries,...

701.0804 - Prudent administration. - 701.0804 Prudent administration. A trustee shall administer the trust as...

701.0805 - Costs of administration. - 701.0805 Costs of administration. In administering a trust, the trustee...

701.0806 - Trustee's skills. - 701.0806 Trustee's skills. A trustee who has special skills or...

701.0807 - Delegation by trustee. - 701.0807 Delegation by trustee. (1) A trustee may delegate duties...

701.0808 - Powers to direct; directing parties. - 701.0808 Powers to direct; directing parties. (1) While a trust...

701.0809 - Control and protection of trust property. - 701.0809 Control and protection of trust property. A trustee shall...

701.0810 - Record keeping and identification of trust property. - 701.0810 Record keeping and identification of trust property. (1) A...

701.0811 - Enforcement and defense of claims. - 701.0811 Enforcement and defense of claims. A trustee shall take...

701.0812 - Collecting trust property; duties of successor trustees. - 701.0812 Collecting trust property; duties of successor trustees. (1) A...

701.0813 - Duty to inform and report. - 701.0813 Duty to inform and report. (1) A trustee shall...

701.0814 - Discretionary powers; tax savings. - 701.0814 Discretionary powers; tax savings. (1) Notwithstanding the breadth of...

701.0815 - General powers of trustee. - 701.0815 General powers of trustee. (1) A trustee, without authorization...

701.0816 - Specific powers of trustee. - 701.0816 Specific powers of trustee. Without limiting the authority conferred...

701.0817 - Distribution upon termination. - 701.0817 Distribution upon termination. (1) Upon termination or partial termination...

701.0818 - Trust protectors. - 701.0818 Trust protectors. (1) Appointment. A settlor in a trust...

701.0819 - Marital deduction transfers. - 701.0819 Marital deduction transfers. (1) For purposes of this section,...

701.0901 - Application of the Wisconsin Prudent Investor Act. - 701.0901 Application of the Wisconsin Prudent Investor Act. Except as...

701.0902 - Directed trust property. - 701.0902 Directed trust property. (1) A directing party who has...

701.0903 - Nonapplication of prudent investor rule to life insurance contracts owned by trusts. - 701.0903 Nonapplication of prudent investor rule to life insurance contracts...

701.1001 - Remedies for breach of trust. - 701.1001 Remedies for breach of trust. (1) A violation by...

701.1002 - Damages for breach of trust; liability of successor trustee. - 701.1002 Damages for breach of trust; liability of successor trustee....

701.1003 - Damages in absence of breach. - 701.1003 Damages in absence of breach. Absent a breach of...

701.1004 - Attorney fees and costs. - 701.1004 Attorney fees and costs. (1) In a judicial proceeding...

701.1005 - Limitation of action against trustee. - 701.1005 Limitation of action against trustee. (1) A beneficiary may...

701.1006 - Reliance on trust instrument. - 701.1006 Reliance on trust instrument. A trustee who acts in...

701.1007 - Event affecting administration or distribution. - 701.1007 Event affecting administration or distribution. If the happening of...

701.1008 - Exculpation of trustee. - 701.1008 Exculpation of trustee. (1) A term of a trust...

701.1009 - Beneficiary's consent, release, or ratification. - 701.1009 Beneficiary's consent, release, or ratification. A trustee is not...

701.1010 - Limitation on personal liability of trustee. - 701.1010 Limitation on personal liability of trustee. (1) Except as...

701.1011 - Interest as general partner. - 701.1011 Interest as general partner. (1) Unless personal liability is...

701.1012 - Protection of person dealing with trustee. - 701.1012 Protection of person dealing with trustee. (1) A person...

701.1013 - Certification of trust. - 701.1013 Certification of trust. (1) Instead of furnishing a copy...

701.1101 - Short title and scope. - 701.1101 Short title and scope. This subchapter may be cited...

701.1102 - Definitions. - 701.1102 Definitions. In this subchapter: (1) “Accounting period" means a...

701.1103 - Fiduciary duties; general principles. - 701.1103 Fiduciary duties; general principles. (1) In allocating receipts and...

701.1104 - Trustee's power to adjust. - 701.1104 Trustee's power to adjust. (1) A trustee may adjust...

701.1105 - Notice to beneficiaries of proposed action. - 701.1105 Notice to beneficiaries of proposed action. (1) A trustee...

701.1106 - Conversion to unitrust. - 701.1106 Conversion to unitrust. (1) Subject to sub. (4), a...

701.1107 - Express unitrusts. - 701.1107 Express unitrusts. (1) In this section, “express unitrust" means...

701.1108 - Power to treat capital gains as part of a distribution. - 701.1108 Power to treat capital gains as part of a...

701.1109 - Judicial review of discretionary power. - 701.1109 Judicial review of discretionary power. (1) Nothing in this...

701.1110 - Determination and distribution of net income. - 701.1110 Determination and distribution of net income. In the case...

701.1111 - Distribution to residuary and remainder beneficiaries. - 701.1111 Distribution to residuary and remainder beneficiaries. (1) Each beneficiary...

701.1112 - When right to income begins and ends. - 701.1112 When right to income begins and ends. (1) An...

701.1113 - Apportionment of receipts and disbursements when decedent dies or income interest begins. - 701.1113 Apportionment of receipts and disbursements when decedent dies or...

701.1114 - Apportionment when income interest ends. - 701.1114 Apportionment when income interest ends. (1) In this section,...

701.1115 - Character of receipts. - 701.1115 Character of receipts. (1) In this section, “entity" means...

701.1116 - Distribution from trust or estate. - 701.1116 Distribution from trust or estate. A trustee shall allocate...

701.1117 - Business and other activities conducted by trustee. - 701.1117 Business and other activities conducted by trustee. (1) If...

701.1118 - Principal receipts. - 701.1118 Principal receipts. A trustee shall allocate to principal: (1)...

701.1119 - Rental property. - 701.1119 Rental property. To the extent that a trustee accounts...

701.1120 - Obligation to pay money. - 701.1120 Obligation to pay money. (1) An amount received as...

701.1121 - Insurance policies and similar contracts. - 701.1121 Insurance policies and similar contracts. (1) Except as provided...

701.1122 - Insubstantial allocations not required. - 701.1122 Insubstantial allocations not required. If a trustee determines that...

701.1123 - Deferred compensation, annuities, and similar payments. - 701.1123 Deferred compensation, annuities, and similar payments. (1) In this...

701.1124 - Liquidating asset. - 701.1124 Liquidating asset. (1) In this section, “liquidating asset" means...

701.1125 - Minerals, water, and other natural resources. - 701.1125 Minerals, water, and other natural resources. (1) To the...

701.1126 - Timber. - 701.1126 Timber. (1) To the extent that a trustee accounts...

701.1127 - Property not productive of income. - 701.1127 Property not productive of income. (1) If a marital...

701.1128 - Derivatives and options. - 701.1128 Derivatives and options. (1) In this section, “derivative" means...

701.1129 - Asset-backed securities. - 701.1129 Asset-backed securities. (1) In this section, “asset-backed security" means...

701.1130 - Disbursements from income. - 701.1130 Disbursements from income. A trustee shall make the following...

701.1131 - Disbursements from principal. - 701.1131 Disbursements from principal. (1) A trustee shall make the...

701.1132 - Transfers from income to principal for depreciation. - 701.1132 Transfers from income to principal for depreciation. (1) In...

701.1133 - Transfers from income to reimburse principal. - 701.1133 Transfers from income to reimburse principal. (1) If a...

701.1134 - Income taxes. - 701.1134 Income taxes. (1) A tax required to be paid...

701.1135 - Adjustments between principal and income because of taxes. - 701.1135 Adjustments between principal and income because of taxes. (1)...

701.1136 - Income payments and accumulations. - 701.1136 Income payments and accumulations. (1) Distribution of income. Except...

701.1201 - Private foundations. - 701.1201 Private foundations. (1) (a) In the administration of any...

701.1202 - Electronic records and signatures. - 701.1202 Electronic records and signatures. The provisions of this chapter...

701.1203 - Uniformity of application and construction. - 701.1203 Uniformity of application and construction. This chapter shall be...

701.1204 - Applicability of general transfers at death provisions. - 701.1204 Applicability of general transfers at death provisions. Chapter 854...

701.1205 - Applicability. - 701.1205 Applicability. (1) Except as otherwise provided in sub. (2)...

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Wisconsin Statutes & Annotations Chapter 701 - Trusts.

Wisconsin Statutes & Annotations
Chapter 701 - Trusts.