AB645: Bill Text

AB645,95,21 861.33 (1) (a) 4. Other tangible personalty not used in trade, agriculture or other business, not to exceed $1,000 $3,000 in inventory value.

AB645, s. 202 Section 202. 861.33 (1) (b) of the statutes is amended to read:

AB645,96,3 861.33 (1) (b) The selection in par. (a) may not include items specifically bequeathed except that the surviving spouse or children may in every case select the normal household furniture, furnishings and appliances necessary to maintain the home. For this purpose antiques, family heirlooms and collections which are specifically bequeathed are not classifiable as normal household furniture or furnishings.

AB645, s. 203 Section 203. 861.33 (1) (c) of the statutes is created to read:

AB645,96,8 861.33 (1) (c) If there is no surviving spouse and the selection is being made by fewer than all of the decedent's children, the child or children selecting the property must have the written consent of all of the other children, or the selection must be approved by the court.

AB645, s. 204 Section 204. 861.33 (2) of the statutes is amended to read:

AB645,96,15 861.33 (2) If it appears that claims may not be paid in full, the court may upon petition of any creditor limit the transfer of personalty to the spouse or children under this section to items not exceeding $3,000 $5,000 in aggregate inventory value until such time as claims are paid in full or the court otherwise orders; or the court may require the spouse or children to retransfer property in excess of $3,000 $5,000 or, at the option of the spouse or children, pay the excess in value over this amount.

AB645, s. 205 Section 205. 861.33 (3) of the statutes is amended to read:

AB645,96,21 861.33 (3) The surviving spouse or children may select items not specifically bequeathed of the type specified under sub. (1) (a) 4. exceeding in value the $1,000 $3,000 limit or obtain the transfer of items exceeding the limit set by the court under sub. (2), by paying to the personal representative the excess of inventory value over the respective limit.

AB645, s. 206 Section 206. 861.33 (4) of the statutes is amended to read:

AB645,97,3 861.33 (4) The Subject to sub. (1) (c), the personal representative has power, without court order, to execute appropriate documents to effect transfer of title to any personal property selected by the spouse or children under this section. A person may not question the validity of the documents of transfer or refuse to accomplish the transfer on the grounds that the personal representative is also the surviving spouse or the only child of the decedent.

AB645, s. 207 Section 207. 861.35 (title) of the statutes is amended to read:

AB645,97,6 861.35 (title) Special allowance for support of spouse and support and education of minor dependent children.

AB645, s. 208 Section 208. 861.35 (1) of the statutes is renumbered 861.35 (1m), and 861.35 (1m) (intro.) and (b), as renumbered, are amended to read:

AB645,97,16 861.35 (1m) (intro.)  If the decedent is survived by a spouse or by minor children, the court may order an allowance for the support and education of each minor child until he or she reaches a specified age, not to exceed 18, dependent child and for the support of the spouse. This allowance may be made whether the estate is testate or intestate. If the decedent is not survived by a spouse, the court also may allot directly to the minor any of the dependent children household furniture, furnishings and appliances. No allowance may be made under this section if any of the following apply:

AB645,97,19 (b) In the case of minor dependent children, if the surviving spouse is legally responsible for support and education and has ample means to provide them in addition to his or her own support.

AB645, s. 209 Section 209. 861.35 (1c) of the statutes is created to read:

AB645,97,22 861.35 (1c) In this section, "dependent child" has the meaning given in s. 861.31 (1c).

AB645, s. 210 Section 210. 861.35 (2) of the statutes is amended to read:

AB645,98,6 861.35 (2) The court may set aside property to provide an allowance and may appoint a trustee to administer the property, subject to the continuing jurisdiction of the court. If a child dies or reaches 18, or if at any time the property held by the trustee is no longer required for the support of the spouse or the support and education of the minor any dependent child, any remaining property is to be distributed by the trustee as directed by the court in accordance with the terms of the decedent's will or to the heirs of the decedent in intestacy or to satisfy unpaid claims of the decedent's estate.

AB645, s. 211 Section 211. 861.35 (3) of the statutes is renumbered 861.35 (3) (intro.) and amended to read:

AB645,98,10 861.35 (3) (intro.) In making an allowance under this section, the court shall consider the all of the following:

AB645,98,14 (a) The effect on claims under s. 859.25 and. The court shall balance the needs of the spouse or minor child dependent children against the nature of the creditors' claims in setting the amount allowed hereunder. The court shall also consider the under this section.

AB645,98,15 (b) The size of the estate, other.

AB645,98,16 (c) Other resources available for support, the.

AB645,98,17 (d) The existing standard of living and any.

AB645,98,18 (f) Any other factors it that the court considers relevant.

AB645,98,22 (4) The court may direct that the allowance to the surviving spouse, not including any allowance for the support and education of minor dependent children, be applied against any right of the surviving spouse to elect under ss. s. 861.02 (1) and 861.03.

AB645, s. 212 Section 212. 861.35 (3) (e) of the statutes is created to read:

AB645,98,25 861.35 (3) (e) Whether the provisions of a marital property agreement will create a hardship for the surviving spouse.

AB645, s. 213 Section 213. 861.41 (3) and (4) of the statutes are repealed.

AB645, s. 214 Section 214. 861.43 of the statutes is created to read:

AB645,99,8 861.43 Authority and powers of conservator, guardian or agent. A conservator, guardian or guardian ad litem of the spouse or of a child of the decedent, or an agent of the spouse or of a child of the decedent acting under a power of attorney, may on behalf of the spouse or child exercise any of the rights, apply for any of the allowances or make any of the selections that apply to the spouse or child under this subchapter.

AB645, s. 215 Section 215. 863.11 of the statutes is repealed and recreated to read:

AB645,99,11 863.11 Order in which assets appropriated; abatement. Shares of distributees abate in accordance with the rules under s. 854.18.

AB645, s. 216 Section 216. 863.13 of the statutes is repealed and recreated to read:

AB645,99,15 863.13 No exoneration of encumbered property. Specifically devised property that is subject to a mortgage or other encumbrance is subject to the rules under s. 854.05.

AB645, s. 217 Section 217. 863.37 (1) of the statutes is amended to read:

AB645,99,23 863.37 (1) If the laws, executive orders or regulations of the United States prohibit payment, conveyance, transfer, assignment or delivery of property or interest therein to a legatee, devisee, ward or beneficiary of an estate or trust, or to any person on his or her behalf, the court, after notice to the person under s. 879.03, may, by judgment or decree, authorize such disposition of the property or interest therein, as is or may be permissible under or in conformity with the laws, executive orders or regulations of the United States.

AB645, s. 218 Section 218. 880.32 of the statutes is amended to read:

AB645,100,15 880.32 Notes and mortgages of minor veterans. Notwithstanding any provision of this chapter or any other law to the contrary, any minor who served in the active armed forces of the United States at any time after August 27, 1940, and the husband or wife of such minor may execute in his or her own right, notes or mortgages, the payment of which is guaranteed or insured by the U.S. department of veterans affairs or the federal housing administrator under the servicemen's readjustment act of 1944 or the national housing act or any acts supplementary thereto or amendatory thereof. In connection with such transactions, such minors may sell, release or convey such mortgaged property or any interest therein, and litigate or settle controversies arising therefrom, including the execution of releases, deeds and other necessary papers or instruments. Such notes, mortgages, releases, deeds and other necessary papers or instruments when so executed shall not be subject to avoidance by such minor or the husband or wife of such minor upon either or both of them attaining the age of 18 because of the minority of either or both of them at the time of the execution thereof.

AB645, s. 219 Section 219. 880.695 (1) of the statutes is amended to read:

AB645,101,3 880.695 (1) A person nominated under s. 880.62 or designated under s. 880.65 as custodian may decline to serve by delivering a valid disclaimer under s. 701.27, in the case of a nontestamentary disclaimer, or under s. 853.40 if other than a nontestamentary disclaimer, 854.13 to the person who made the nomination or to the transferor or the transferor's legal representative. If the event giving rise to a transfer has not occurred and no substitute custodian able, willing and eligible to serve was nominated under s. 880.62, the person who made the nomination may nominate a substitute custodian under s. 880.62; otherwise the transferor or the transferor's legal representative shall designate a substitute custodian at the time of the transfer, in either case from among the persons eligible to serve as custodian for that kind of property under s. 880.65 (1). The custodian so designated has the rights of a successor custodian.

AB645, s. 220 Section 220. 895.43 of the statutes is repealed and recreated to read:

AB645,101,7 895.43 Intentional killing by beneficiary of contract. The rights of a beneficiary of a contractual arrangement who kills the principal obligee under the contractual arrangement are governed by s. 854.14.

AB645, s. 221 Section 221. 895.435 of the statutes is repealed and recreated to read:

AB645,101,11 895.435 Intentional killing by beneficiary of certain death benefits. The rights of a beneficiary to receive benefits payable by reason of the death of an individual killed by the beneficiary are governed by s. 854.14.

AB645, s. 222 Section 222. Initial applicability.

AB645,101,14 (1) This act first applies to deaths occurring on January 1, 1999, except with respect to irrevocable governing instruments executed before that date.

AB645,101,15 (End)