AB645: Bill Text

AB645,39,18 4. In satisfying a share provided by this paragraph, devises to the testator's children who were living when the will was executed abate ratably. In abating the devises of the then-living children, the court shall preserve to the maximum extent possible the character of the testamentary plan adopted by the testator.

AB645,39,22 (d) Rights of issue. Except as provided in sub. (5), if a child entitled to a share under this section dies before the testator, and the child leaves issue who survive the testator, the issue who represent the deceased child are entitled to the deceased child's share.

AB645, s. 147 Section 147. 853.25 (2) of the statutes is amended to read:

AB645,40,8 853.25 (2) Living issue omitted by mistake. If Except as provided in sub. (5), if clear and convincing evidence proves that by mistake or accident the testator failed to provide in the testator's will for a child living at the time of making of the will, or for the issue of any then deceased child, by mistake or accident, including the mistaken belief that the child or issue of a deceased child was dead at the time the will was executed, the child or issue is entitled to receive a share in the estate of the testator equal in value to the share which the child or issue would have received if the testator had died intestate. But failure, as provided under sub. (1), as if the child or issue was born or adopted after the execution of the will. Failure to mention a child or issue in the will is not in itself evidence of mistake or accident.

AB645, s. 148 Section 148. 853.25 (4) of the statutes is amended to read:

AB645,40,12 853.25 (4) From what estate share is to be taken. Except as provided in sub. (5), the court shall in its final judgment assign the a share provided by this section under sub. (1) (b) as follows:

AB645,40,13 (a) From any First, from intestate property first;.

AB645,40,20 (b) The Any balance from each of the beneficiaries devise to a beneficiary under the will in proportion to the value of the estate each beneficiary would have received under the will as written, unless. If the obvious intention of the testator, shown by clear and convincing evidence, in relation to some specific gift or other provision in the will would thereby be defeated, in which case by assignment of the share as provided in this paragraph, the court may adopt a different apportionment and may exempt a specific gift devise or other provision.

AB645, s. 149 Section 149. 853.25 (5) of the statutes is amended to read:

AB645,41,8 853.25 (5) Discretionary power of court to assign different share. If in any case under sub. (1) or (2) the court determines that the intestate share is in a larger different amount than or form from what the testator would have wanted to provide for the omitted child or issue of a deceased child, because it exceeds the value of a provision for another child or for issue of a deceased child under the will, or that assignment of the intestate share would unduly disrupt the testamentary scheme, the court may in its final judgment make such provision for the omitted child or issue out of the estate as it deems would best accord with the probable intent of the testator, such as assignment, outright or in trust, of any amount less than the intestate share but approximating the value of the interest of other issue, or modification of the provisions of a testamentary trust for other issue to include the omitted child or issue.

AB645, s. 150 Section 150. 853.27 of the statutes is repealed and recreated to read:

AB645,41,11 853.27 Lapse. The rights under a will of a beneficiary who predeceases the testator are governed by s. 854.06.

AB645, s. 151 Section 151. 853.29 of the statutes is amended to read:

AB645,41,16 853.29 After-acquired property. A will is presumed to pass all property which that the testator owns at the testator's death and which that the testator has power to transmit transfer by will, including property acquired by the testator after the execution of the will or acquired by the testator's estate.

AB645, s. 152 Section 152. 853.32 of the statutes is created to read:

AB645,41,20 853.32 Effect of reference to another document. (1) Incorporation. A will may incorporate by reference another writing or document if all of the following apply:

AB645,41,22 (a) The will, either expressly or as construed from extrinsic evidence, manifests an intent to incorporate the other writing or document.

AB645,41,23 (b) The other writing or document was in existence when the will was executed.

AB645,41,25 (c) The other writing or document is sufficiently described in the will to permit identification with reasonable certainty.

AB645,42,1 (d) The will was executed in compliance with s. 853.03 or 853.05.

AB645,42,2 (2) Disposition of tangible personal property.

AB645,42,11 (c) If the document described in par. (a) is not located by the personal representative, or delivered to the personal representative or circuit court with jurisdiction over the matter, within 30 days after the appointment of the personal representative, the personal representative may dispose of tangible personal property according to the provisions of the will as if no such document exists. If a valid document is located after some or all of the tangible personal property has been disposed of, the document controls the distribution of the property described in it, but the personal representative incurs no liability for the prior distribution or sale of the property, as long as the time specified in this paragraph has elapsed.

AB645,42,13 (d) The duties and liability of a person who has custody of a document described in par. (a), or information about such a document, are governed by s. 856.05.

AB645,42,15 (e) Beneficiaries under a document that is described in par. (a) are not interested parties for purposes of s. 879.03.

AB645,42,18 (3) Transfers to living trusts. The validity and implementation of a will provision that purports to transfer or appoint property to a living trust are governed by s. 701.08.

AB645, s. 153 Section 153. 853.325 of the statutes is created to read:

AB645,43,2 853.325 Effect of reference to acts or events. A will may dispose of property by reference to acts or events that have significance apart from their effect on the disposition of property under the will and that do not occur solely for the purpose of determining the disposition of property under the will. Reference to the execution or revocation of another individual's will fulfills the requirements under this section. This section applies whether the acts or events occur before or after execution of the will or before or after the testator's death.

AB645, s. 154 Section 154. 853.33 of the statutes is repealed and recreated to read:

AB645,43,5 853.33 Gift of securities. Section 854.11 governs gifts of securities under a will.

AB645, s. 155 Section 155. 853.35 of the statutes is repealed and recreated to read:

AB645,43,9 853.35 Nonademption of specific gifts in certain instances. The rights of a beneficiary with respect to a specific gift that is destroyed, damaged, sold or condemned before the testator's death are governed by s. 854.08.

AB645, s. 156 Section 156. 853.40 of the statutes is repealed and recreated to read:

AB645,43,12 853.40 Disclaimer. A person to whom property would otherwise pass under a will may disclaim all or part of the property as provided in s. 854.13.

AB645, s. 157 Section 157. 853.41 of the statutes is created to read:

AB645,43,16 853.41 Applicability of general transfers at death provisions. Chapter 854 applies to transfers under wills, including transfers under a Wisconsin basic will or basic will with trust.

AB645, s. 158 Section 158. Subchapter II (title) of chapter 853 [precedes 853.50] of the statutes is created to read:

AB645,43,19 Chapter 853

AB645,43,21 Subchapter II Wisconsin basic wills

AB645, s. 159 Section 159. 853.50 (1) of the statutes is amended to read:

AB645,43,25 853.50 (1) "By right of representation" means that the issue of a deceased person inherit the share of an estate that their immediate ancestor would have inherited, if living according to the method specified in s. 854.04 (1).

AB645, s. 160 Section 160. 853.50 (3) of the statutes is amended to read:

AB645,44,5 853.50 (3) "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 who are not legitimate and their lineal descendants to the extent provided by s. 852.05.

AB645, s. 161 Section 161. 853.51 (2) of the statutes is repealed and recreated to read:

AB645,44,7 853.51 (2) The witnesses shall comply with s. 853.03 (2).

AB645, s. 162 Section 162. 853.55 (Article 3) 3.3. of the statutes is repealed and recreated to read:

AB645,44,10 853.55 (Article 3) 3.3. BOND.

AB645,44,14 My signature in this box means I request that a bond, as set by law, be required for each individual personal representative or guardian named in this will. IF I DO NOT SIGN IN THIS BOX, I REQUEST THAT A BOND NOT BE REQUIRED FOR ANY OF THOSE PERSONS.

AB645,44,16 I sign my name to this Wisconsin Basic Will on ....... (date), at ........ (city), ........ (state).

AB645,44,17 Signature of Testator

AB645,44,19 STATEMENT OF WITNESSES (You must use two witnesses, who should be adults.)

AB645,44,23 I declare that the testator signed the will in front of me, acknowledged to me that this document was his or her will or acknowledged to me that the signature above is his or her signature. The testator appears to me to be of sound mind and not under undue influence.

AB645,44,24 Signature Residence Address:

AB645,44,25 Print Name

AB645,45,1 Here: Date Signed:

AB645,45,5 I declare that the testator signed the will in front of me, acknowledged to me that this document was his or her will or acknowledged to me that the signature above is his or her signature. The testator appears to me to be of sound mind and not under undue influence.

AB645,45,6 Signature Residence Address:

AB645,45,7 Print Name

AB645,45,8 Here: Date Signed:

AB645, s. 163 Section 163. 853.55 (NOTICE) 6. of the statutes is amended to read:

AB645,45,15 853.55 (NOTICE) 6. THE WITNESSES TO THIS WILL SHOULD NOT BE PEOPLE WHO MAY RECEIVE PROPERTY UNDER THIS WILL. YOU SHOULD READ AND CAREFULLY FOLLOW THE WITNESSING PROCEDURE DESCRIBED AT THE END OF THIS WILL. ALL OF THE WITNESSES MUST WATCH YOU SIGN THIS WILL. EACH WITNESS MUST SIGN HIS OR HER NAME WITH YOU AND THE OTHER WITNESS PRESENT.

AB645, s. 164 Section 164. 853.56 (Article 3) 3.4. of the statutes is repealed and recreated to read:

AB645,45,18 853.56 (Article 3) 3.4. BOND.

AB645,45,22 My signature in this box means I request that a bond, as set by law, be required for each individual personal representative, trustee or guardian named in this will. IF I DO NOT SIGN IN THIS BOX, I REQUEST THAT A BOND NOT BE REQUIRED FOR ANY OF THOSE PERSONS.

AB645,45,24 I sign my name to this Wisconsin Basic Will With Trust on ... (date), at..(city),.. (state).

AB645,45,25 Signature of Testator

AB645,46,2 STATEMENT OF WITNESSES (You must use two witnesses, who should be adults.)

AB645,46,6 I declare that the testator signed the will in front of me, acknowledged to me that this document was his or her will or acknowledged to me that the signature above is his or her signature. The testator appears to me to be of sound mind and not under undue influence.

AB645,46,7 Signature Residence Address:

AB645,46,8 Print Name

AB645,46,9 Here: Date Signed:

AB645,46,13 I declare that the testator signed the will in front of me, acknowledged to me that this document was his or her will or acknowledged to me that the signature above is his or her signature. The testator appears to me to be of sound mind and not under undue influence.

AB645,46,14 Signature Residence Address:

AB645,46,15 Print Name

AB645,46,16 Here: Date Signed:

AB645, s. 165 Section 165. 853.56 (NOTICE) 7. of the statutes is amended to read:

AB645,46,23 853.56 (NOTICE) 7. THE WITNESSES TO THIS WILL SHOULD NOT BE PEOPLE WHO MAY RECEIVE PROPERTY UNDER THIS WILL. YOU SHOULD READ AND CAREFULLY FOLLOW THE WITNESSING PROCEDURE DESCRIBED AT THE END OF THIS WILL. ALL OF THE WITNESSES MUST WATCH YOU SIGN THIS WILL. EACH WITNESS MUST SIGN HIS OR HER NAME WITH YOU AND THE OTHER WITNESS PRESENT.

AB645, s. 166 Section 166. 853.59 (form) (a) of the statutes is amended to read:

AB645,47,5 853.59 (form) (a) TO MY SPOUSE IF LIVING; IF NOT LIVING, THEN IN ONE TRUST TO PROVIDE FOR THE SUPPORT AND EDUCATION OF MY CHILDREN AND THE DESCENDANTS OF ANY DECEASED CHILD BY RIGHT OF REPRESENTATION UNTIL I HAVE NO LIVING CHILD UNDER 21 YEARS OF AGE.

AB645, s. 167 Section 167. 853.59 (form) (2) (a) of the statute is amended to read:

AB645,47,20 853.59 (form) (2) (a) As long as any child of mine under 21 years of age is living, the trustee shall distribute from time to time to or for the benefit of any one or more of my children and the descendants of any deceased child (the beneficiaries) by right of representation of any age as much, or all, of the principal or net income of the trust or both, as the trustee deems necessary for their health, support, maintenance and education. Any undistributed income shall be accumulated and added to the principal. "Education" includes, but is not limited to, college, vocational and other studies after high school, and reasonably related living expenses. Consistent with the trustee's fiduciary duties, the trustee may distribute trust income or principal in equal or unequal shares and to any one or more of the beneficiaries to the exclusion of other beneficiaries. In deciding on distributions, the trustee may take into account the beneficiaries' other income, outside resources or sources of support, including the capacity for gainful employment of a beneficiary who has completed his or her education.

AB645, s. 168 Section 168. Chapter 854 of the statutes is created to read:

AB645,47,24 Chapter 854 transfers at death — General rules

AB645,48,7 854.01 Definition. In this chapter, "governing instrument" means a will; a deed; a trust instrument; an insurance or annuity policy; a contract; a pension, profit-sharing, retirement or similar benefit plan; a marital property agreement under s. 766.58 (3) (f); a beneficiary designation under s. 40.02 (8) (a); an instrument under ch. 705; an instrument that creates or exercises a power of appointment or any other dispositive, appointive or nominative instrument that transfers property at death.

AB645,48,9 854.02 Scope. This chapter applies to all statutes and governing instruments that transfer property at death.

AB645,48,15 854.03 Requirement of survival by 120 hours. (1) Requirement of survival. Except as provided in sub. (5), if property is transferred to an individual under a statute or under a provision in a governing instrument that requires the individual to survive an event and it is not established that the individual survived the event by at least 120 hours, the individual is considered to have predeceased the event.

AB645,48,20 (2) Coowners with right of survivorship. (a) In this subsection, "coowners with right of survivorship" includes joint tenants, owners of survivorship marital property and other coowners of property or accounts that are held under circumstances that entitle one or more persons to all of the property or account upon the death of one or more of the others.

AB645,48,25 (b) Except as provided in sub. (5), if property is transferred under a governing instrument that establishes 2 or more coowners with survivorship, and if it is not established that at least one of the coowners survived the others by at least 120 hours, the property is transferred to the coowners in proportion to their ownership interests.