Chapter 701

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.

701.0204(2)(c) (c) A county of this state in which the holder of trust property maintains an office.

701.0204(2)(d) (d) 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(3) (3) Venue for a judicial proceeding involving a trust is also governed by ss. 801.50 to 801.62, as applicable, and the proceeding is regarded as a civil action for that purpose.

701.0204 History History: 2013 a. 92.

701.0205 701.0205 Notice. If notice of a judicial proceeding involving a trust to an interested person, to the person’s representative or guardian ad litem, 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 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. Interested persons, on behalf of themselves, or their representatives or guardians ad litem, on behalf of the representative or guardian ad litem and 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 or the interested person’s representative or guardian ad litem is equivalent to timely service of notice.

701.0205 History History: 2013 a. 92 s. 194.

701.0206 701.0206 Attorney for person in military service. At the time of filing a petition for a judicial proceeding involving a trust, the petitioner shall file an affidavit setting forth the name of any interested person 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 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.

701.0206 History History: 2013 a. 92 s. 195.

subch. III of ch. 701 SUBCHAPTER III

REPRESENTATION

701.0301 701.0301 Representation: basic effect.

701.0301(1) (1) Notice, information, an accounting, or a report given to a person who may represent and bind another person under this subchapter is a substitute for and has the same effect as notice, information, an accounting, or a report given directly to the other person.

701.0301(2) (2) The consent of a person who may represent and bind another person under this subchapter is binding on the person represented unless the person represented objects to the representation by notifying the trustee or the representative in writing before the consent would otherwise have become effective.

701.0301(3) (3) Except as provided in ss. 701.0411 and 701.0602, a person who under this subchapter may represent a settlor who lacks capacity may receive notice and may give a binding consent on the settlor’s behalf.

701.0301(4) (4) A settlor may not represent and bind a beneficiary under this subchapter with respect to the termination or modification of a trust under s. 701.0411 (1).

701.0301(5) (5) A trustee is not liable for giving notice, information, an accounting, or a report to a beneficiary who is represented by another person under this subchapter and nothing in this subchapter prohibits the trustee from giving notice, information, an accounting, or a report to the person represented.

701.0301 History History: 2013 a. 92.

701.0302 701.0302 Representation by powerholder of certain powers of appointment.

701.0302(1) (1) The powerholder of a general power of appointment exercisable in favor of the powerholder or the powerholder’s estate or the powerholder of a broad limited power of appointment may represent and bind all persons, including permissible appointees and takers in default, whose interests may be eliminated by the exercise or nonexercise of the power. For purposes of this subsection, a general power of appointment does not include powers of appointment exercisable only in favor of the creditors of the powerholder, the creditors of the powerholder’s estate, or both.

701.0302(2) (2) To the extent there is no conflict of interest between a powerholder and the persons represented with respect to the particular question or dispute, the powerholder of a nongeneral power of appointment other than a broad limited power of appointment may represent and bind all persons or all members of a class of persons, including permissible appointees and takers in default, whose interests may be limited by the exercise or nonexercise of the power.

701.0302 History History: 2013 a. 92; 2023 a. 127.

701.0303 701.0303 Representation by fiduciaries, parents, or a person appointed by a trustee. Except as provided in s. 701.0411, to the extent there is no conflict of interest between a representative and the person represented or among those being represented with respect to a particular question or dispute, all of the following apply:

701.0303(1) (1) A conservator may represent and bind the estate that the conservator controls.

701.0303(2) (2) Notwithstanding ss. 54.20 (2) and 54.25 (2), a guardian of the estate may represent and bind the ward and a guardian of the person may represent and bind the ward if a guardian of the estate of the ward has not been appointed.

701.0303(3) (3) An agent having authority to act with respect to the particular question or dispute may represent and bind the principal.

701.0303(4) (4) A trustee may represent and bind the beneficiaries of the trust.

701.0303(5) (5) A personal representative of a decedent’s estate may represent and bind a person interested in the estate.