Chapter 701

701.0108(4)(c) (c) An explanation of the reasons for the proposed transfer.

701.0108(4)(d) (d) The date on which the proposed transfer is anticipated to occur.

701.0108(4)(e) (e) The date, not less than 30 days after the giving of the notice, by which a qualified beneficiary, trust protector, or directing party must notify the trustee of an objection to the proposed transfer.

701.0108(5) (5) If a qualified beneficiary, trust protector, or directing party commences a judicial proceeding objecting to the proposed transfer on or before the date specified in the notice, a trustee may not act under sub. (3) without court approval to transfer a trust’s principal place of administration until the judicial proceeding is resolved or withdrawn.

701.0108(6) (6) In connection with a transfer of a trust’s principal place of administration, the trustee may transfer some or all of the trust property to a successor trustee designated in the terms of the trust or appointed pursuant to s. 701.0704.

701.0108(7) (7) The law of the trust’s principal place of administration governs administrative matters related to the trust.

701.0108 History History: 2013 a. 92.

701.0109 701.0109 Methods of notice; waiver.

701.0109(1) (1) Notice to a person under this chapter or the sending of a document to a person under this chapter shall be accomplished in a manner reasonably suitable under the circumstances and likely to result in receipt of the notice or document. Permissible methods of notice or for sending a document include 1st class mail, personal delivery, delivery to the person’s last known place of residence or place of business, or a properly directed electronic message.

701.0109(2) (2) Notice otherwise required under this chapter or a document otherwise required to be sent under this chapter does not need to be provided to a person whose identity or location is unknown to and not reasonably ascertainable by a trustee.

701.0109(3) (3) Notice, the sending of a document, or the right to object granted under this chapter may be waived by the person to be notified, sent the document, or who has the right to object.

701.0109(4) (4) Notice of a judicial proceeding shall be given as provided in s. 701.0205.

701.0109(5) (5) If notice is given to a trustee and more than one person is serving as trustee, notice given to any trustee is considered to be given to all persons serving as trustee, except that if a corporate trustee or an attorney licensed to practice in this state is serving as a trustee, notice must be given to all such corporate trustees and attorney trustees.

701.0109 History History: 2013 a. 92; 2023 a. 127.

701.0110 701.0110 Others treated as qualified beneficiaries.

701.0110(1) (1) An identified charitable organization has the rights of a qualified beneficiary under this chapter if the identified charitable organization, on the date on which the identified charitable organization’s qualification is being determined, is a current beneficiary or a presumptive remainder beneficiary.

701.0110(2) (2) An animal protector or a person appointed to enforce a trust created for a noncharitable purpose without an ascertainable beneficiary as provided in either s. 701.0408 or 701.0409 has the rights of a qualified beneficiary under this chapter.

701.0110(3) (3) The attorney general of this state has the rights of a qualified beneficiary under this chapter with respect to a charitable trust having its principal place of administration in this state only when there is no identified charitable organization that would qualify under sub. (1).

701.0110 History History: 2013 a. 92; 2023 a. 127.

701.0111 701.0111 Nonjudicial settlement agreements.

701.0111(1) (1) In this section, “interested person” means a person whose consent would be required in order to achieve a binding settlement were the settlement to be approved by the court.

701.0111(2) (2) An interested person may be represented under this section as provided in subch. III.

701.0111(3) (3) Except as provided in sub. (4), an interested person may enter into a binding nonjudicial settlement agreement with respect to any matter involving a trust. A binding nonjudicial settlement agreement is considered part of the trust instrument.

701.0111(4) (4) A nonjudicial settlement agreement is valid only to the extent it includes terms and conditions that could be properly approved, ordered, directed, or otherwise determined by a court under this chapter or other applicable law.

701.0111(5) (5) Except as provided in sub. (4), matters that may be addressed by a nonjudicial settlement agreement include any of the following:

701.0111(5)(a) (a) The interpretation or construction of the terms of the trust.

701.0111(5)(b) (b) The approval of a trustee’s report or accounting or waiver of the preparation of a trustee’s report or accounting.

701.0111(5)(c) (c) Direction to a trustee to perform or refrain from performing a particular act or the grant to a trustee of any necessary power.

701.0111(5)(d) (d) The resignation or appointment of a trustee or the removal of a trustee and replacement with a suitable successor trustee.

701.0111(5)(e) (e) The determination of a trustee’s compensation.

701.0111(5)(f) (f) The transfer of a trust’s principal place of administration.

701.0111(5)(g) (g) The liability or release from liability of a trustee for an action relating to the trust.

701.0111(5)(h) (h) The criteria for distribution to a beneficiary where the trustee is given discretion.

701.0111(5)(i) (i) The resolution of disputes arising out of the administration or distribution of the trust.

701.0111(5)(j) (j) An investment action.

701.0111(5)(k) (k) The appointment of and powers granted to a directing party or a trust protector.

701.0111(5)(L) (L) Direction to a directing party or to a trust protector to perform or refrain from performing a particular act or the grant of a power to a directing party or trust protector.

701.0111(5)(m) (m) The modification or termination of a trust.

701.0111(6) (6) Any interested person or other person affected may request a court to approve a nonjudicial settlement agreement, to determine whether the representation as provided in subch. III was adequate, or to determine whether the agreement contains terms and conditions the court could have properly approved, ordered, directed, or otherwise determined.

701.0111(7) (7) Notice of any nonjudicial settlement agreement shall be given to the settlor, if living, the trustee, each trust protector, and each directing party at least 30 days before the proposed effective date of the nonjudicial settlement agreement. Notice is considered to be waived by any person who is a party to the agreement.

701.0111 History History: 2013 a. 92; 2023 a. 127.

701.0113 701.0113 Insurable interest of trustee.

701.0113(1) (1) In this section:

701.0113(1)(a) (a) “Relative” means a spouse or individual related within the 1st, 2nd, or 3rd degree of kinship under s. 990.001 (16).

701.0113(1)(b) (b) “Settlor” means a person that executes a trust instrument and includes a person for whom a fiduciary or agent is acting.

701.0113(2) (2) A trustee of a trust has an insurable interest in the life of an individual insured under a life insurance policy that is owned by the trustee of the trust acting in a fiduciary capacity or that designates the trust itself as the owner if, on the date the policy is issued, all of the following apply:

701.0113(2)(a) (a) The insured is any of the following:

701.0113(2)(a)1. 1. A settlor of the trust.

701.0113(2)(a)2. 2. An individual in whom a settlor of the trust has, or would have had if living at the time the policy was issued, an insurable interest.

701.0113(2)(b) (b) The life insurance proceeds are primarily for the benefit of one or more trust beneficiaries who have any of the following:

701.0113(2)(b)1. 1. An insurable interest in the life of the insured.

701.0113(2)(b)2. 2. A substantial interest engendered by love or affection in the continuation of the life of the insured and, if not included under subd. 1., the beneficiary is a relative or stepchild of the insured.

701.0113 History History: 2023 a. 127.

subch. II of ch. 701 SUBCHAPTER II

JUDICIAL PROCEEDINGS

701.0201 701.0201 Role of court in administration of trust.

701.0201(1) (1) The court may intervene in the administration of a trust to the extent its jurisdiction is invoked by an interested person or as provided by law.

701.0201(2) (2) Unless ordered by the court upon a petition of a settlor, trustee, or qualified beneficiary requesting continuing judicial supervision, a trust is not subject to continuing judicial supervision.

701.0201(3) (3) A judicial proceeding involving a trust or the trust’s administration may involve any of the following:

701.0201(3)(a) (a) Determining the validity of all or any part of a trust.

701.0201(3)(b) (b) Appointing or removing a trustee, directing party, or trust protector.

701.0201(3)(c) (c) Appointing a representative or guardian ad litem, as provided in s. 701.0305, whether or not any other judicial proceeding concerning the trust is pending.

701.0201(3)(d) (d) Reviewing and approving a fee of a trustee, directing party, or trust protector.

701.0201(3)(e) (e) Approving interim or final accounts.

701.0201(3)(f) (f) Ascertaining trust beneficiaries.

701.0201(3)(g) (g) Determining the existence or nonexistence of any immunity, power, privilege, duty, or right.

701.0201(3)(h) (h) Requesting trustee instructions.

701.0201(3)(i) (i) Obtaining a declaratory judgment.

701.0201(3)(j) (j) Seeking reformation or other equitable relief with respect to a trust.

701.0201(3)(k) (k) Resolving a question arising in the administration of a trust, including a question of construction of a trust instrument.

701.0201(3)(km) (km) Releasing a trustee, directing party, trust protector, or other person acting in a fiduciary capacity from liability for an action relating to the trust.

701.0201(3)(L) (L) Determining any other matter involving a trustee, directing party, trust protector, or beneficiary.

701.0201(4) (4) Except as otherwise provided in this chapter, and as applicable, the probate procedure described in ch. 879 applies to a proceeding brought by a trustee, trust protector, directing party, or beneficiary concerning the administration of a trust.

701.0201 History History: 2013 a. 92; 2023 a. 127.

701.0202 701.0202 Personal jurisdiction.

701.0202(1) (1) A trustee, trust protector, or directing party submits personally to the jurisdiction of the courts of this state regarding any matter involving the trust by accepting an appointment as a trustee, trust protector, or directing party of a trust having its principal place of administration in this state or by continuing to serve as the trustee, trust protector, or directing party of a trust after the principal place of administration of the trust is moved to this state.

701.0202(2) (2) With respect to a beneficiary’s interest in a trust, the beneficiary of a trust having its principal place of administration in this state is subject to the jurisdiction of the courts of this state regarding any matter involving the trust. By accepting a distribution from a trust having its principal place of administration in this state, a recipient submits personally to the jurisdiction of the courts of this state regarding any matter involving the trust.

701.0202(3) (3) Notwithstanding any contractual provision or other agreement between the trustee and the agent to the contrary, by accepting the delegation of a trust function pursuant to s. 701.0807 or 881.01 (10), or otherwise, from the trustee of a trust having a principal place of administration in this state, the agent submits personally to the jurisdiction of the courts of this state regarding any matter involving the trust.

701.0202(4) (4) This section does not preclude other methods of obtaining jurisdiction over a trustee, directing party, trust protector, beneficiary, or other person receiving property from the trust.

701.0202 History History: 2013 a. 92.

701.0203 701.0203 Subject matter jurisdiction.

701.0203(1) (1) The circuit court assigned to exercise probate jurisdiction has exclusive jurisdiction of proceedings in this state brought by a trustee, trust protector, directing party, or beneficiary concerning the administration of a trust.

701.0203(2) (2) This section does not preclude judicial or nonjudicial alternative dispute resolution, including nonjudicial settlement agreements described in s. 701.0111.

701.0203 History History: 2013 a. 92; 2023 a. 127.

701.0204 701.0204 Venue.

701.0204(1) (1) Except as provided in sub. (2), venue for a judicial proceeding involving a trust may be in the county of this state in which the trust’s principal place of administration is or will be located or, if the trust is a testamentary trust and the decedent’s estate is not yet closed, in the county of this state in which the decedent’s estate is being administered.

701.0204(2) (2) If a trust has no trustee, venue for a judicial proceeding for the appointment of a trustee is in any of the following:

701.0204(2)(a) (a) A county of this state in which a beneficiary resides.

701.0204(2)(b) (b) A county of this state in which any trust property is located.