SB759,,6565701.0103 (21m) “Record” means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form.
SB759,2766Section 27. 701.0103 (23) of the statutes is amended to read:
SB759,,6767701.0103 (23) “Settlor” Except as otherwise provided in ss. 701.0113 and 701.1325, “settlor” means a person, including a testator, who creates or contributes property to a trust. If more than one person creates or contributes property to a trust, each person is a settlor of the portion of the trust property attributable to that person’s contribution except to the extent another person has the power to revoke the trust or withdraw that portion.
SB759,2868Section 28. 701.0103 (23m) of the statutes is created to read:
SB759,,6969701.0103 (23m) “Sign” means, with present intent to authenticate or adopt a record, to do any of the following:
SB759,,7070(a) Execute or adopt a tangible symbol.
SB759,,7171(b) Attach to or logically associate with the record an electronic symbol, sound, or process.
SB759,2972Section 29. 701.0103 (24) of the statutes is renumbered 701.0103 (16m) and amended to read:
SB759,,7373701.0103 (16m) “Special “Nongeneral power of appointment” has the meaning given in s. 702.02 (7) 702.102 (11).
SB759,3074Section 30. 701.0103 (27) of the statutes is amended to read:
SB759,,7575701.0103 (27) “Terms of a trust” means the manifestation of the settlor’s intent regarding a trust’s provisions as expressed in the trust instrument or, as may be established by other evidence that would be admissible in a judicial proceeding, or as may be established by court order or nonjudicial settlement agreement.
SB759,3176Section 31. 701.0103 (30) of the statutes is amended to read:
SB759,,7777701.0103 (30) “Trust instrument” means an instrument, including any amendments or modifications to the instrument under s. 701.0111 or subch. IV, that is executed a record signed by the settlor that contains terms of to create a trust or is created under a statute, judgment, or decree that orders property to be transferred to a trustee to be administered for the benefit of a beneficiary, or by any person to create a 2nd trust as provided under subch. XIII, that contains some or all of the terms of the trust, and includes any amendments or modifications.
SB759,3278Section 32. 701.0109 (title) of the statutes is amended to read:
SB759,,7979701.0109 (title) Methods and waiver of notice; waiver.
SB759,3380Section 33. 701.0109 (3) of the statutes is amended to read:
SB759,,8181701.0109 (3) Notice under this chapter or, the sending of a document, or the right to object granted under this chapter may be waived by the person to be notified or, sent the document, or who has the right to object.
SB759,3482Section 34. 701.0109 (5) of the statutes is created to read:
SB759,,8383701.0109 (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.
SB759,3584Section 35. 701.0110 (1) (intro.) of the statutes is renumbered 701.0110 (1) and amended to read:
SB759,,8585701.0110 (1) A An identified charitable organization that is expressly designated to receive distributions under the terms of a charitable trust and that is not subject to a right of substitution by the settlor or by any other party prior to the charitable organization becoming a distributee or permissible distributee of trust income or principal 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, satisfies one of the following: is a current beneficiary or a presumptive remainder beneficiary.
SB759,3686Section 36. 701.0110 (1) (a), (b) and (c) of the statutes are repealed.
SB759,3787Section 37. 701.0110 (2) of the statutes is amended to read:
SB759,,8888701.0110 (2) A An animal protector or a person appointed to enforce a trust created for the care of an animal or another 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.
SB759,3889Section 38. 701.0110 (3) of the statutes is amended to read:
SB759,,9090701.0110 (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 the charitable interest to be represented would qualify under sub. (1) but there is no identified charitable organization has been expressly designated to receive distribution under the terms of a charitable trust that would qualify under sub. (1).
SB759,3991Section 39. 701.0111 (4) of the statutes is amended to read:
SB759,,9292701.0111 (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.
SB759,4093Section 40. 701.0111 (5) (d) of the statutes is amended to read: