AB490,194 Section 194. 701.14 (2) of the statutes is renumbered 701.0205 and amended to read:

AB490,133,23 701.0205 Notice. If notice of a judicial proceeding involving a trust proceeding to a an interested person interested in the trust, to the person's representative or guardian ad litem as provided in s. 701.15, or to other persons, is required by law or deemed necessary by the court, the court shall order such notice to be given as prescribed in s. 879.05 except that service by publication shall may not be required unless ordered by the court. The court may order both personal service and service by publication on designated persons. Proof of service shall be made as provided in s. 879.07. Persons interested in the trust Interested persons, on behalf of themselves, or their representatives or guardians ad litem as provided in s. 701.15, on behalf of themselves the representative or guardian ad litem and those whom they represent the interested person the representative or guardian ad litem represents, may in writing waive service of notice and consent to the hearing of any matter without notice. Waiver of notice or an appearance by any interested person interested in the trust or the interested person's representative or guardian ad litem as provided in s. 701.15 is equivalent to timely service of notice.

AB490,195 Section 195. 701.14 (3) of the statutes is renumbered 701.0206 and amended to read:

AB490,134,10 701.0206 Attorney for person in military service. At the time of filing a petition for a trust judicial proceeding, involving a trust, the petitioner shall file an affidavit shall be filed setting forth the name of any interested person interested in the proceeding who is actively engaged in the military service of the United States. Whenever it appears by the affidavit or otherwise that any person in the active military service of the United States is an interested in any trust proceeding person and is not represented by an attorney, or by an attorney-in-fact who is duly authorized to act on the interested person's behalf in the matter, the court shall appoint an attorney to represent the interested person and protect the person's interest.

AB490,196 Section 196. 701.14 (4) of the statutes is repealed.

AB490,197 Section 197. 701.15 of the statutes is repealed.

AB490,198 Section 198. 701.16 (title), (1), (2), (3), (4) (title) and (a) to (c), (5) and (6) of the statutes are repealed.

AB490,199 Section 199. 701.16 (4) (d) of the statutes is renumbered 879.47 (2) and amended to read:

AB490,134,20 879.47 (2) Notwithstanding s. 879.47, trustees Trustees and cotrustees may submit to courts accounts in the format that they normally use for accounts submitted to beneficiaries under this subsection, if all of the information required by the court is included.

AB490,200 Section 200. 701.17 of the statutes is repealed.

AB490,201 Section 201. 701.18 of the statutes is repealed.

AB490,202 Section 202. 701.19 of the statutes is repealed.

AB490,203 Section 203. 701.20 (title) of the statutes is repealed.

AB490,204 Section 204. 701.20 (2) (intro.) of the statutes is repealed.

AB490,205 Section 205. 701.20 (2) (a) of the statutes is renumbered 701.1102 (1).

AB490,206 Section 206. 701.20 (2) (b) of the statutes is renumbered 701.1102 (1m) and amended to read:

AB490,135,7 701.1102 (1m) "Beneficiary" Notwithstanding s. 701.0103 (3), "beneficiary" means a person who has a beneficial interest in a trust or an estate and includes, in the case of a decedent's estate, an heir, a legatee, and a devisee and, in the case of a trust, an income beneficiary and a remainder beneficiary.

AB490,207 Section 207. 701.20 (2) (c) of the statutes is renumbered 701.1102 (2).

AB490,208 Section 208. 701.20 (2) (d) of the statutes is renumbered 701.1102 (3) and amended to read:

AB490,135,14 701.1102 (3) "Income" means money or property that a fiduciary receives as current return from a principal asset. "Income" includes a portion of receipts from a sale, exchange, or liquidation of a principal asset, to the extent provided in subs. (10) ss. 701.1115 to (24) 701.1129.

AB490,209 Section 209. 701.20 (2) (e) of the statutes is renumbered 701.1102 (4).

AB490,210 Section 210. 701.20 (2) (f) of the statutes is renumbered 701.1102 (5).

AB490,211 Section 211. 701.20 (2) (g) of the statutes is renumbered 701.1102 (6).

AB490,212 Section 212. 701.20 (2) (h) of the statutes is renumbered 701.1102 (7) and amended to read:

AB490,135,23 701.1102 (7) "Net income" means the total receipts allocated to income during an accounting period, minus the disbursements made from income during the period, plus or minus transfers under this section subchapter to or from income during the period.

AB490,213 Section 213. 701.20 (2) (i) of the statutes is repealed.

AB490,214 Section 214. 701.20 (2) (j) of the statutes is renumbered 701.1102 (8).

AB490,215 Section 215. 701.20 (2) (k) of the statutes is renumbered 701.1102 (9) and amended to read:

AB490,136,5 701.1102 (9) "Remainder beneficiary" means a person entitled to receive principal when an income interest ends who is a beneficiary under s. 701.0103 (21) (b).