701.0408(2)(2)An animal trust authorized by this section may be enforced by an animal protector. A person having an interest in the welfare of the animal may request the court to appoint an animal protector.
701.0408(3)(3)Property of an animal trust authorized by this section may be applied only to its intended use, except to the extent the court determines that the value of the animal trust property exceeds the amount required for the intended use. Property not required for the intended use must be distributed to the settlor, if then living, otherwise to the settlor’s successors in interest.
701.0408 HistoryHistory: 2013 a. 92; 2023 a. 127.
701.0409701.0409Noncharitable trust without ascertainable beneficiary. Except as otherwise provided in s. 701.0408 or by another statute, the following rules apply:
701.0409(1)(1)A trust may be created for a noncharitable purpose without a definite or definitely ascertainable beneficiary or for a noncharitable but otherwise valid purpose to be selected by the trustee.
701.0409(2)(2)A trust may be created for maintaining, keeping in repair, and preserving any grave, tomb, monument, gravestone, or any cemetery. Any cemetery authority under s. 157.061 (2) may receive property in trust for any of the purposes specified in this subsection and apply the income from the trust to the purpose stated in the trust instrument.
701.0409(3)(3)A trust authorized by this section may be enforced by a trust protector with the power to enforce the trust. If there is not a trust protector with the power to enforce the trust, a court may appoint a trust protector with the power to enforce the trust under s. 701.0818.
701.0409(4)(4)Property of a trust authorized by this section may be applied only to its intended use, except to the extent the court determines that the value of the trust property exceeds the amount required for the intended use. Property not required for the intended use must be distributed to the settlor, if then living, otherwise to the settlor’s successors in interest.
701.0409 HistoryHistory: 2013 a. 92.
701.0410701.0410Modification or termination of trust; proceedings for approval or disapproval.
701.0410(1)(1)In addition to the methods of termination prescribed by ss. 701.0411 to 701.0414, a trust terminates to the extent the trust is revoked or expires pursuant to its terms, no purpose of the trust remains to be achieved, or the purposes of the trust have become unlawful or impossible to achieve.
701.0410(2)(2)A proceeding to approve or disapprove a proposed modification or termination under ss. 701.0411 to 701.0416, or a proposed trust combination or division under s. 701.0417, may be commenced by a trustee or beneficiary, and a proceeding to approve or disapprove a proposed modification or termination under s. 701.0411 may be commenced by the settlor. The settlor of a charitable trust may maintain a proceeding to modify the trust under s. 701.0413. Except as provided in s. 701.0411 (1m), a trustee does not have standing to oppose a proposed modification or termination commenced under s. 701.0411 (1).
701.0410(3)(3)A trustee may not be compelled by a modification or termination under this section or under ss. 701.0411 to 701.0416 to make distributions to or for any beneficiary of a trust for an individual with a disability or to terminate the trust, during the lifetime of the individual with a disability. A court may modify the terms of a trust that has an individual with a disability as a beneficiary with retroactive effect or reform the terms of such trust to achieve the settlor’s objective or, if because of circumstances not anticipated by the settlor, to otherwise further the purposes of the trust so that it does not result in trust property being countable as resources or income of the individual with a disability for purposes of public assistance.
701.0410 HistoryHistory: 2013 a. 92; 2023 a. 127.
701.0411701.0411Modification or termination of noncharitable irrevocable trust by consent.
701.0411(1)(1)Except as provided in sub. (1m), a noncharitable irrevocable trust may be modified or terminated, with or without court approval, upon consent of the settlor and all beneficiaries, even if the modification or termination is inconsistent with a material purpose of the trust. A settlor’s power to consent to a trust’s modification or termination may be exercised by a representative under s. 701.0303 only if the representative is specifically authorized to consent to a trust’s modification or termination under a power of attorney, the terms of the trust, or by a court under a guardianship or conservatorship.
701.0411(1m)(1m)A trust described in 42 USC 1396p (d) (4) may be terminated or modified under sub. (1) only with consent of the trustee, and is not considered revocable because it lacks ascertainable remainder beneficiaries.
701.0411(2)(2)With the approval of the court, any of the following may occur:
701.0411(2)(a)(a) A noncharitable irrevocable trust may be terminated upon consent of all of the beneficiaries if continuance of the trust is not necessary to achieve any material purpose of the trust.
701.0411(2)(b)(b) A noncharitable irrevocable trust may be modified upon consent of all of the beneficiaries if the modification is not inconsistent with a material purpose of the trust.
701.0411(3)(3)A spendthrift provision in the terms of the trust is not presumed to constitute a material purpose of the trust.
701.0411(4)(4)A court may not compel a beneficiary to consent to a modification or termination to satisfy a creditor of the beneficiary.
701.0411(5)(5)Upon termination of a trust under sub. (1) or (2), the trustee shall distribute the trust property as agreed by the beneficiaries.
701.0411(6)(6)If not all of the beneficiaries consent to a proposed modification or termination of the trust under sub. (1) or (2), the modification or termination may be approved by the court if the court is satisfied that all of the following apply:
701.0411(6)(a)(a) If all of the beneficiaries had consented, the trust could have been modified or terminated under this section.
701.0411(6)(b)(b) The interests of a beneficiary who does not consent will be adequately protected.
701.0411(7)(7)A party proposing to modify or terminate a trust under sub. (1), (2), or (6) shall give notice of the proposed modification or termination to the settlor, if living, the trustee, each trust protector, each directing party, and each beneficiary at least 30 days before the proposed effective date of the modification or termination.
701.0411 HistoryHistory: 2013 a. 92; 2023 a. 127.
701.0412701.0412Modification or termination because of unanticipated circumstances or inability to administer trust effectively.