54.54 Successor guardian. (1) Appointment. When If a guardian dies, is removed by order of the court, or resigns and the resignation is accepted by the court, the court, on its own motion or upon petition of any interested person, may appoint a competent and suitable person as successor guardian. The court may, upon request of any interested person or on its own motion, direct that a petition for appointment of a successor guardian be heard in the same manner and subject to the same requirements as provided under this chapter for an original appointment of a guardian.
(2) Notice. If the appointment under sub. (1) is made without hearing, the successor guardian shall provide notice to the ward and all interested persons of the appointment, the right to counsel, and the right to petition for reconsideration of the successor guardian. The notice shall be served personally or by mail not later than 10 days after the appointment.
387,379 Section 379. 880.173 (title) of the statutes is repealed.
387,380 Section 380. 880.173 (1) of the statutes is renumbered 54.20 (2) (h) and amended to read:
54.20 (2) (h) A guardian of the estate If appointed under this chapter for a married person may ward, exercise with the approval of the court, except as limited under s. 880.37, any management and control right over the marital property or property other than marital property and any right in the business affairs which that the married person ward could exercise under ch. 766 if the person were not determined under s. 880.12 to be a proper subject for guardianship. Under this section, a guardian may ward were not an individual found incompetent, consent to act together in or join in any transaction for which consent or joinder of both spouses is required, or may execute under s. 766.58 a marital property agreement with the other ward's spouse or, if appointed for a ward who intends to marry, with the ward's intended spouse, but may not make, amend or revoke a will.
387,381 Section 381. 880.173 (2) of the statutes is repealed.
387,382 Section 382. 880.175 (title) of the statutes is repealed.
387,383 Section 383. 880.175 of the statutes is renumbered 54.20 (2) (b) and amended to read:
54.20 (2) (b) Upon petition by the guardian, a parent, the spouse, any issue or next of kin of any person, assets of the person may, in the discretion of the court and upon its order, after such notice as the court may require, be transferred Transfer assets of the ward to the trustee or trustees of an any existing revocable living trust created by the person for the benefit of that the ward has created for himself or herself and those dependent upon the person for support any dependents, or, if the ward is a minor, to the trustee or trustees of a any trust created for the exclusive benefit of the person, if a minor, which ward that distributes to him or her at age 18 or 21, or, if the ward dies before age 18 or 21, to his or her estate, or as he or she appoints if he or she dies prior to age 18 or 21 the ward has appointed by a written instrument that is executed after the ward attains age 14.
387,384 Section 384. 880.18 (title) of the statutes is renumbered 54.60 (title).
387,385 Section 385. 880.18 of the statutes is renumbered 54.60 (1) and amended to read:
54.60 (1) Inventory required. When a The guardian of the estate has been appointed an inventory shall be made in the same manner and subject to the same requirements as are provided for the inventory of a decedent's estate. An appraisal of all or any part of the ward's estate shall be made when ordered by the court prepare an inventory that lists all of the ward's income and assets, including interests in property and any marital property interest, regardless of how the asset is titled.
387,386 Section 386. 880.19 (title) of the statutes is repealed.
387,387 Section 387. 880.19 (1) (title) of the statutes is repealed.
387,388 Section 388. 880.19 (1) of the statutes is renumbered 54.19 (1) and amended to read:
54.19 (1) The guardian of the estate shall take Take possession of all of the ward's real and personal property, and of any rents, income, issues and benefits therefrom, whether accruing before or after the guardian's appointment from the property, and of the any proceeds arising from the sale, mortgage, lease, or exchange thereof of the property and prepare an inventory of these. Subject to such this possession, the title of all such estate the income and assets of the ward and to the increment and proceeds thereof shall be of the income and assets of the ward in the ward and not in the guardian. It is the duty of the guardian of the estate to protect and preserve it, to retain, sell and invest it as hereinafter provided, to account for it faithfully, to perform all other duties required of the guardian by law and at the termination of the guardianship to deliver the assets of the ward to the persons entitled thereto.
387,389 Section 389. 880.19 (2) (title) of the statutes is repealed.
387,390 Section 390. 880.19 (2) (a) of the statutes is renumbered 54.20 (1) (intro.) and amended to read:
54.20 (1) Standard. (intro.) The In exercising the powers under this section, the guardian of the estate may, without the approval of the court, retain any real or personal property possessed by the ward at the time of appointment of the guardian or subsequently acquired by the ward by gift or inheritance without regard to ch. 881, so long as such retention constitutes the exercise of shall use the judgment and care under the circumstances then prevailing, which that persons of prudence, discretion, and intelligence exercise in the management of their own affairs, not in regard to speculation but in regard to including the permanent, rather than speculative, disposition of their funds, considering and consideration of the probable income as well as the probable and safety of their capital. In addition, in exercising powers and duties under this section, the guardian of the estate shall consider, consistent with the functional limitations of the ward, all of the following:
387,391 Section 391. 880.19 (2) (b) of the statutes is renumbered 54.20 (3) (f) and amended to read:
54.20 (3) (f) The guardian of the estate may, with the approval of the court, after such notice as the court directs, retain Retain any real or personal property possessed by that the ward at the time of the appointment of the possesses when the guardian or subsequently acquired by is appointed or that the ward acquires by gift or inheritance for such period of time as shall be designated in the order of the court approving such retention, without regard to ch. 881 during the guardian's appointment.
387,392 Section 392. 880.19 (3) (title) of the statutes is repealed.
387,393 Section 393. 880.19 (3) of the statutes is renumbered 54.20 (2) (k) and amended to read:
54.20 (2) (k) In all cases where in which the court deems it determines that it is advantageous to continue the business of a ward, such business may be continued by the guardian of the estate on such continue the business on any terms and conditions as may be specified in the order of the court.
387,394 Section 394. 880.19 (4) (title) of the statutes is repealed.
387,395 Section 395. 880.19 (4) (a) of the statutes is renumbered 54.20 (3) (h) and amended to read:
54.20 (3) (h) The guardian of the estate may, without approval of the court, invest Invest and reinvest the proceeds of sale of any guardianship assets of the ward and any of the ward's other moneys in the guardian's possession in accordance with ch. 881.
387,396 Section 396. 880.19 (4) (b) of the statutes is renumbered 54.20 (3) (i) and amended to read:
54.20 (3) (i) The guardian of the estate may, with the approval of the court, after Notwithstanding ch. 881, after such notice as the court directs, and subject to ch. 786, invest the proceeds of sale of any guardianship assets of the ward and any of the ward's other moneys in the guardian's possession in such the real or personal property as the court determines that is determined by the court to be in the best interests of the guardianship estate, without regard to ch. 881 of the ward.
387,397 Section 397. 880.19 (4) (c) of the statutes is renumbered 54.18 (3) (a) and amended to read:
54.18 (3) (a) No guardian shall lend guardianship Lend funds of the ward to himself or herself.
387,398 Section 398. 880.19 (5) (title) of the statutes is repealed.
387,399 Section 399. 880.19 (5) (a) of the statutes is renumbered 54.20 (3) (g) and amended to read:
54.20 (3) (g) The guardian of the estate may, without approval of the court, sell Subject to ch. 786, sell, mortgage, pledge, lease, or exchange any property asset of the guardianship estate acquired by the guardian pursuant to sub. (4) ward at fair market value.
387,400 Section 400. 880.19 (5) (b) of the statutes is renumbered 54.22 and amended to read:
54.22 Petition for authority to sell, mortgage, pledge, lease, or exchange ward's property. The court, on the application of the guardian of the estate or of any other Notwithstanding s. 54.20 (3) (g), (h), and (i), a person interested in the estate of any a ward, after such notice if any, as the court directs, may authorize or petition the court to require the guardian to sell, mortgage, pledge, lease, or exchange any property asset of the guardianship estate upon such terms as of the ward. Following the petition and upon any notice and hearing that the court requires, the court may so order, subject to ch. 786, for the purpose of paying the ward's debts, providing for the ward's care, maintenance, and education and the care, maintenance, and education of the ward's dependents, inves