AB645: Bill Text

AB645, s. 57 Section 57. 701.27 (7) of the statutes is renumbered 854.13 (11), and 854.13 (11) (a) (intro.), 1., 2. and 3., as renumbered, are amended to read:

AB645,15,18 854.13 (11) (a) (title) Method Actions that bar disclaimer. (intro.) A person's right to disclaim property or an interest in property is barred by the person's any of the following:

AB645,15,20 1. Assignment The person's assignment, conveyance, encumbrance, pledge or transfer of the property or interest or a contract therefor;.

AB645,15,21 2. Written The person's written waiver of the right to disclaim; or.

AB645,15,23 3. Acceptance The person's acceptance of the property or interest or benefit of the property.

AB645, s. 58 Section 58. 701.27 (8) (title) of the statutes is renumbered 854.13 (12) (title).

AB645, s. 59 Section 59. 701.27 (8) of the statutes is renumbered 854.13 (12) (a) and amended to read:

AB645,16,5 854.13 (12) (a) This section does not abridge affect the right of a person to waive, release, disclaim or renounce property or an interest in property under any other statute, the common law, or as provided in the creating instrument.

AB645, s. 60 Section 60. 701.27 (9) of the statutes is repealed.

AB645, s. 61 Section 61. 702.03 (1) of the statutes is repealed and recreated to read:

AB645,16,12 702.03 (1) Unless a contrary intention is found, if a governing instrument, as defined in s. 854.01, creating a power of appointment expressly requires that the power be exercised by any type of reference to the power or its source, it is presumed that the donor's intention in requiring the reference was to prevent an inadvertent exercise of the power. Extrinsic evidence may be used to show contrary intent.

AB645, s. 62 Section 62. 702.08 of the statutes is amended to read:

AB645,16,15 702.08 Disclaimer of powers. The donee of any power may disclaim all or part of the power as provided under s. 701.27 or 853.40 854.13.

AB645, s. 63 Section 63. 702.22 of the statutes is created to read:

AB645,16,19 702.22 Applicability of general transfers at death provisions. Chapter 854 applies to transfers at death under an instrument that creates or exercises a power of appointment.

AB645, s. 64 Section 64. 705.09 of the statutes is created to read:

AB645,16,22 705.09 Applicability of general transfers at death provisions. Chapter 854 applies to transfers at death under this subchapter.

AB645, s. 65 Section 65. Subchapter II (title) of chapter 705 [precedes 705.20] of the statutes is repealed and recreated to read:

AB645,16,25 Chapter 705

AB645,17,2 Subchapter II nonprobate transfers at death

AB645, s. 66 Section 66. 705.20 (3) of the statutes is created to read:

AB645,17,4 705.20 (3) Chapter 854 applies to transfers at death under this section.

AB645, s. 67 Section 67. Subchapter III (title) of chapter 705 [precedes 705.21] of the statutes is created to read:

AB645,17,7 Chapter 705

AB645,17,10 Subchapter III transfer on death security registration

AB645, s. 68 Section 68. 705.31 of the statutes is created to read:

AB645,17,13 705.31 Applicability of general transfers at death provisions. Chapter 854 applies to transfers at death under this subchapter.

AB645, s. 69 Section 69. 706.105 of the statutes is created to read:

AB645,17,16 706.105 Applicability of general transfers at death provisions. Chapter 854 applies to transfers at death under a conveyance.

AB645, s. 70 Section 70. 766.575 (3) (b) of the statutes is amended to read:

AB645,17,23 766.575 (3) (b) If within 14 business days after receiving the notice of claim the trustee receives, as purporting to support the claim, a decree, marital property agreement or proof that a legal action has been commenced, including a copy of an election filed pursuant to s. 861.03 861.08 (1), to establish the validity of the claim, the trustee shall suspend distribution of the portion of the property to which the claim relates pending resolution of the validity of the claim.

AB645, s. 71 Section 71. 766.58 (3) (f) of the statutes is amended to read:

AB645,18,11 766.58 (3) (f) Providing that upon the death of either spouse any of either or both spouses' property, including after-acquired property, passes without probate to a designated person, trust or other entity by nontestamentary disposition. Any such provision in a marital property agreement is revoked upon dissolution of the marriage as provided in s. 767.266 (1). If a marital property agreement provides for the nontestamentary disposition of property, without probate, at the death of the 2nd spouse, at any time after the death of the first spouse the surviving spouse may amend the marital property agreement with regard to property to be disposed of at his or her death unless the marital property agreement expressly provides otherwise and except to the extent property is held in a trust expressly established under the marital property agreement.

AB645, s. 72 Section 72. 766.58 (3m) of the statutes is created to read:

AB645,18,14 766.58 (3m) Chapter 854 applies to transfers at death under a marital property agreement.

AB645, s. 73 Section 73. 766.587 (6) of the statutes is amended to read:

AB645,18,22 766.587 (6) Rights of surviving spouse. Notwithstanding the fact that an agreement under this section is in effect at, or has terminated before, the death of a spouse who is a party to the agreement, the surviving spouse may elect under ss. s. 861.02 (1) and 861.03. For the purpose of the election, in addition to the property described in s. 851.055, property acquired during marriage and after the determination date which would have been marital property but for the agreement is deferred marital property.

AB645, s. 74 Section 74. 766.589 (7) of the statutes is amended to read:

AB645,19,5 766.589 (7) Rights of surviving spouse. Notwithstanding the fact that an agreement under this section is in effect at, or has terminated before, the time of death of a spouse who is party to the agreement, the surviving spouse may elect under ss. s. 861.02 and 861.03. For the purpose of the election, in addition to the property described in s. 851.055, property acquired during marriage and after the determination date which would have been marital property but for the agreement is deferred marital property.

AB645, s. 75 Section 75. 766.61 (2) (c) 2. of the statutes is amended to read:

AB645,19,15 766.61 (2) (c) 2. If within 14 business days after receiving the notice of claim the issuer receives at its home office, as purporting to support the notice of claim, a decree, marital property agreement, written directive signed by the beneficiary and surviving spouse, consent under sub. (3) (e) or proof that a legal action has been filed, including a copy of an election filed pursuant to s. 861.03 861.08 (1), to secure an interest as evidenced in such a document, the issuer shall make payment or take action on the policy after the issuer receives from a court or from the claimant and the person directing action or payment written documentation indicating that the dispute has been resolved.

AB645, s. 76 Section 76. 767.266 (title) of the statutes is renumbered 767.266 (1) (title).

AB645, s. 77 Section 77. 767.266 (title) of the statutes is created to read:

AB645,19,18 767.266 (title) Effect on transfers at death.

AB645, s. 78 Section 78. 767.266 of the statutes is renumbered 767.266 (1) (intro.) and amended to read:

AB645,19,25 767.266 (1) (title) Revocation of nontestamentary disposition provision death provisions in marital property agreement. (intro.) Unless the judgment provides otherwise, a judgment of annulment, divorce or legal separation revokes a provision in a marital property agreement under s. 766.58 which provides that provides for any of the following:

AB645,20,3 (a) That, upon the death of either spouse, any of either or both spouses' property, including after-acquired property, passes without probate to a designated person, trust or other entity by nontestamentary disposition.

AB645, s. 79 Section 79. 767.266 (1) (b) of the statutes is created to read:

AB645,20,6 767.266 (1) (b) That one or both spouses will make a particular disposition in a will or other governing instrument, as defined in s. 854.01.

AB645, s. 80 Section 80. 767.266 (2) of the statutes is created to read:

AB645,20,12 767.266 (2) Revocation of revocable transfers at death. Unless sub. (1) applies, revocation of revocable transfers at death by a former spouse to the other former spouse, or to relatives of the other former spouse, under an instrument executed before the judgment of annulment, divorce or legal separation is governed by s. 854.15.

AB645, s. 81 Section 81. 815.56 of the statutes is amended to read:

AB645,20,20 815.56 Sheriff's deed; grantee if purchaser dead. In case the person who would be entitled to a deed of real estate sold on execution dies before the delivery of that deed the sheriff shall execute a deed to the person's executors or administrators. The real estate so conveyed shall be held in trust for the use of the heirs or devisees of the deceased person, subject to the surviving spouse's right to elect under ss. s. 861.02 (1) and 861.03, but may be sold for the payment of debts in the same manner as lands of which the person died seized.

AB645, s. 82 Section 82. 851.001 of the statutes is repealed.

AB645, s. 83 Section 83. Subchapter I (title) of chapter 851 [precedes 851.002] of the statutes is created to read:

AB645,20,24 Chapter 851

AB645,21,2 Subchapter I Definitions

AB645, s. 84 Section 84. 851.002 of the statutes is amended to read:

AB645,21,5 851.002 Definitions. The definitions in ss. 851.01 to 851.29 851.31 apply to chs. 851 to 882.

AB645, s. 85 Section 85. 851.035 of the statutes is created to read:

AB645,21,8 851.035 Conscious presence. "Conscious presence" means within the range of any of a person's senses.

AB645, s. 86 Section 86. 851.055 of the statutes is repealed and recreated to read:

AB645,21,13 851.055 Deferred marital property. "Deferred marital property" means any property that is not classified by ch. 766, that was acquired while the spouses were married and that would have been classified as marital property under ch. 766 if it had been acquired when ch. 766 applied.

AB645, s. 87 Section 87. 851.065 of the statutes is created to read:

AB645,21,17 851.065 Devise. "Devise", when used as a noun, means a testamentary disposition of any real or personal property by will. "Devise", when used as a verb, means to dispose of any real or personal property by will.

AB645, s. 88 Section 88. 851.13 of the statutes is amended to read:

AB645,21,22 851.13 Issue. "Issue" means children, grandchildren, great-grandchildren, and lineal descendants of more remote degrees, including those who occupy that relation by reason of adoption under s. 851.51 854.20 and nonmarital children and their lineal descendants to the extent provided by s. 852.05.

AB645, s. 89 Section 89. 851.27 of the statutes is amended to read:

AB645,22,2 851.27 Property. "Property" means any interest, legal or equitable, in real or personal property, without distinction as to kind, including money, rights of a beneficiary under a contractual arrangement, choses in action and anything else that may be the subject of ownership.

AB645, s. 90 Section 90. 851.30 of the statutes is created to read:

AB645,22,5 851.30 Surviving spouse. (1) Subject to sub. (2), "surviving spouse" means a person who was married to the decedent at the time of the decedent's death.

AB645,22,6 (2) "Surviving spouse" does not include any of the following:

AB645,22,11 (a) An individual who obtains or consents to a final decree or judgment of divorce from the decedent or an annulment of their marriage, if the decree or judgment is not recognized as valid in this state, unless they subsequently participate in a marriage ceremony purporting to marry each other or they subsequently hold themselves out as husband and wife.

AB645,22,14 (b) An individual who, following an invalid decree or judgment of divorce or annulment obtained by the decedent, participates in a marriage ceremony with a 3rd individual.

AB645,22,16 (c) An individual who was party to a valid proceeding concluded by an order purporting to terminate all property rights based on the marriage.

AB645, s. 91 Section 91. 851.31 of the statutes is created to read:

AB645,22,21 851.31 Will. "Will" includes a codicil and any document incorporated by reference in a testamentary document under s. 853.32 (1) or (2). "Will" does not include a copy, unless the copy has been proven as a will under s. 856.17, but "will" does include a properly executed duplicate original.

AB645, s. 92 Section 92. 851.35 of the statutes is renumbered 854.17.

AB645, s. 93 Section 93. Subchapter II (title) of chapter 851 [precedes 851.40] of the statutes is created to read:

AB645,22,25 Chapter 851

AB645,23,2 Subchapter II General probate provisions

AB645, s. 94 Section 94. 851.50 of the statutes is created to read:

AB645,23,6 851.50 Status of adopted persons. The status of adopted persons for purposes of inheritance and transfers under wills or other governing instruments, as defined in s. 854.01, is governed by ss. 854.20 and 854.21.

AB645, s. 95 Section 95. 851.51 (title) of the statutes is repealed.

AB645, s. 96 Section 96. 851.51 (1) and (2) of the statutes are renumbered 854.20 (1) and (2) and amended to read:

AB645,23,15 854.20 (1) Inheritance rights between adopted person and adoptive relatives. A Subject to sub. (4), a legally adopted person is treated as a natural birth child of the person's adoptive parents for purposes of intestate succession by, through and from the adopted person and for purposes of any statute conferring rights upon children, issue or relatives in connection with the law of intestate succession or wills governing instruments.

AB645,23,19 (2) (title) Inheritance rights between adopted person and natural birth relatives. A Subject to sub. (4), a legally adopted person ceases to be treated as a child of the person's natural birth parents for the same purposes as under sub. (1), except:

AB645,23,22 (a) If a natural birth parent marries or remarries and the child is adopted by the stepparent, for all purposes the child is treated as the child of the child's natural birth parent for all purposes; whose spouse adopted the child.

AB645,24,3 (b) If a natural birth parent of a marital child dies and the other natural birth parent remarries and the child is adopted by the stepparent, the child is treated as the child of the deceased natural birth parent for purposes of inheritance through that parent and for purposes of any statute conferring rights upon children, issue or relatives of that parent under the law of intestate succession or wills governing instruments.