SB759,97279Section 97. 701.0707 (2) of the statutes is amended to read: SB759,,280280701.0707 (2) A trustee who has resigned or been removed shall proceed expeditiously within a reasonable time to deliver the trust property within the trustee’s possession to the cotrustee, successor trustee, or other person entitled to it, subject to the right of the trustee to retain a reasonable reserve for the payment of debts, expenses, and taxes. SB759,98281Section 98. 701.0802 (5) of the statutes is renumbered 701.0802 (5) (a). SB759,99282Section 99. 701.0802 (5) (b) of the statutes is created to read: SB759,,283283701.0802 (5) (b) A trust company acting in any fiduciary capacity with respect to a trust may purchase any service or product, including insurance or securities underwritten or otherwise distributed by the trust company or by an affiliate, through or directly from the trust company or an affiliate of a syndicate or selling group that includes the trust company of an affiliate, provided the purchase otherwise complies with the prudent investor rule in s. 881.01 and with s. 881.015. Compensation for the service or product must be reasonable and not prohibited by the instrument governing the fiduciary relationship. The compensation for the service or product may be in addition to the compensation that the trust company is otherwise entitled to receive. SB759,100284Section 100. 701.0802 (9) of the statutes is created to read: SB759,,285285701.0802 (9) A trustee is not liable for releasing information, including a copy of all or any portion of the trust instrument, to any deceased settlor’s heir-at-law or other person indicating that the person is not a beneficiary of the trust if the trustee reasonably believes that doing so will not harm the beneficiaries of the trust and that doing so will reduce the likelihood of litigation involving the trust. SB759,101286Section 101. 701.0813 (1), (2) (d) and (3) (a) (intro.) of the statutes are amended to read: SB759,,287287701.0813 (1) A trustee shall keep the distributees or permissible distributees of trust income or principal, current beneficiaries and other qualified presumptive remainder beneficiaries who so request, reasonably informed about the administration of the trust. Unless unreasonable under the circumstances, a trustee shall promptly respond to a qualified beneficiary’s request for information related to the administration of the trust. SB759,,288288(2) (d) Notify the distributees or permissible distributees of trust income or principal, current beneficiaries and other qualified presumptive remainder beneficiaries who so request, of any change in the method or rate of the trustee’s compensation. SB759,,289289(3) (a) (intro.) At Subject to par. (c), at least annually and upon the termination of a trust, a trustee shall send to the distributees or permissible distributees of trust income or principal, current beneficiaries and to other qualified presumptive remainder beneficiaries who request it, all of the following: SB759,102290Section 102. 701.0813 (2) (a) of the statutes is amended to read: SB759,,291291701.0813 (2) (a) Upon the request of a qualified beneficiary for a copy of the trust instrument, promptly furnish to the qualified beneficiary either a copy of the portions of the trust instrument relating to the interest of the qualified beneficiary or a copy of the trust instrument or, upon the request of a settlor for a copy of the trust instrument, promptly furnish to the settlor a copy of the trust instrument. SB759,103292Section 103. 701.0813 (3) (b) of the statutes is amended to read: SB759,,293293701.0813 (3) (b) Upon Subject to par. (c), upon a vacancy in a trusteeship, unless a cotrustee remains in office, the former trustee shall send a report containing the information described under par. (a) 1. to the qualified beneficiaries. A personal representative or guardian may send the qualified beneficiaries a report containing the information described in par. (a) 1. on behalf of a deceased or incapacitated trustee. SB759,104294Section 104. 701.0813 (3) (c) of the statutes is created to read: SB759,,295295701.0813 (3) (c) A trustee may limit the report to a qualified beneficiary of a specific dollar amount or specific property to information that relates to the specific dollar amount or specific property. SB759,105296Section 105. 701.0813 (5) of the statutes is amended to read: SB759,,297297701.0813 (5) Subsections (2) (b) and, (c), and (d) and (3) do not apply to a trustee who accepts a trusteeship before July 1, 2014, to an irrevocable trust created before July 1, 2014, or to a revocable trust that becomes irrevocable before July 1, 2014. SB759,106298Section 106. 701.0813 (6) and (7) of the statutes are created to read: SB759,,299299701.0813 (6) The trustee has no duty to provide information about the administration of the trust to the settlor, but the trustee may provide such information if the trustee chooses to do so. SB759,,300300(7) The trust instrument may expand, restrict, eliminate, or otherwise vary the right of a beneficiary or class of beneficiaries to be informed of the beneficiary’s interest in a trust or to receive any or all information concerning the trust, and may do so for any period of time, including for the lifetime of a beneficiary or a class of beneficiaries. If there is no current acting representative of such a beneficiary or class of beneficiaries in accordance with the trust instrument, and a provision to appoint such a representative is not provided for in the trust instrument, the trustee may appoint a representative for a beneficiary or class of beneficiaries whose rights to information have been restricted or eliminated by the trust instrument. SB759,107301Section 107. 701.0815 (3) of the statutes is created to read: SB759,,302302701.0815 (3) A trustee has no power to give warranties in a sale, mortgage, or lease that are binding on the trustee personally. SB759,108303Section 108. 701.0816 (29) of the statutes is created to read: SB759,,304304701.0816 (29) Fund a trust or account that meets the requirements under 42 USC 1396p (d) (4) (A) or (C) for the benefit of an individual with a disability. SB759,109305Section 109. 701.0816 (30) of the statutes is created to read: SB759,,306306701.0816 (30) Fund an account that is part of an ABLE program under section 529A of the Internal Revenue Code for a beneficiary’s benefit. SB759,110307Section 110. 701.0817 (3) (b) of the statutes is amended to read: