Full Statute Name:  West's Wisconsin Statutes Annotated - Property (Ch. 700 to 710) - Chapter 701. Trusts - Subchapter I. General Provisions and Definitions & Subchapter IV. Creation, Validity, Modification, and Termination of Trust

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Primary Citation:  W.S.A. 701.1110; 701.0402; 701.0408 Country of Origin:  United States Last Checked:  October, 2014 Alternate Citation:  WI ST 701.1110; 701.0402; 701.0408 Date Adopted:  2014
Summary:

This statute represents Wisconsin's pet trust law.  The former law was not a specific pet trust law, but the new law is. The new provisions allows for a trust to be created for the care of an animal alive during the settlor's lifetime.

Statute Text: 

Subchapter I. General Provisions and Definitions 

701.0110. Others treated as qualified beneficiaries

(1) A 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 charitable organization, on the date on which the charitable organization's qualification is being determined, satisfies one of the following:

(a) The charitable organization is a distributee or permissible distributee of trust income or principal.

(b) The charitable organization would be a distributee or permissible distributee of trust income or principal upon the termination of the interests of other distributees or permissible distributees then receiving or eligible to receive distributions.

(c) The charitable organization would be a distributee or permissible distributee of trust income or principal if the trust terminated on that date.

(2) A person appointed to enforce a trust created for the care of an animal or another noncharitable purpose as provided in s. 701.0408 or 701.0409 has the rights of a qualified beneficiary under this chapter.

(3) The attorney general of this state has the rights of a qualified beneficiary 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 no charitable organization has been expressly designated to receive distribution under the terms of a charitable trust.

Credit

2013 Act 92, § 82, eff. July 1, 2014 .

Subchapter IV. Creation, Validity, Modification, and Termination of Trust

701.0402. Requirements for creation

(1) A trust is created only if all of the following are satisfied:

(a) The settlor of the trust has capacity, as defined in sub. (4), to create the trust, unless the trust is created by court order or by an agent, guardian of the estate, conservator, or representative payee with authority to act.

(b) The settlor indicates an intention to create the trust; or a statute, regulation, common law, other provision having the effect of law, judgment, or decree creates or authorizes the creation of a trust.

(c) The trust has a definite beneficiary or is one of the following:

1. A charitable trust.

2. A trust for the care of an animal, as provided in s. 701.0408.

3. A trust for a noncharitable purpose, as provided in s. 701.0409.

(d) The trustee has duties to perform.

(e) The same person is not the sole trustee and sole beneficiary.

(2) A beneficiary is definite if the beneficiary can be ascertained at the time the trust is created or in the future.

(3) A power in a trustee or trust protector to select a beneficiary from an indefinite class is valid. If the power is not exercised within a reasonable time, the power fails and the property subject to the power passes to the persons who would have taken the property had the power not been conferred.

(4) The capacity required to create a trust is the same as the capacity to make a will.

Credits
2013 Act 92, § 82, eff. July 1, 2014 .

701.0408. Trust for care of animal

(1) A trust may be created to provide for the care of an animal alive during the settlor's lifetime. The trust terminates upon the death of the animal or, if the trust was created to provide for the care of more than one animal alive during the settlor's lifetime, upon the death of the last surviving animal.

(2) A trust authorized by this section may be enforced by a person appointed in the terms of the trust or, if no person is so appointed, by a person appointed by the court. A person having an interest in the welfare of the animal may request the court to appoint a person to enforce the trust or to remove a person appointed under this subsection.

(3) 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.

Credits
2013 Act 92, § 82, eff. July 1, 2014 .

 FORMER LAW:

701.11 Repealed in 2014

Former Text

(1) Except under sub. (2), where the owner of property makes a testamentary transfer in trust for a specific noncharitable purpose, and there is no definite or definitely ascertainable human beneficiary designated, no enforceable trust is created; but the transferee has power to apply the property to the designated purpose, unless the purpose is capricious. If the transferee refuses or neglects to apply the property to the designated purpose within a reasonable time and the transferor has not manifested an intention to make a beneficial gift to the transferee, a resulting trust arises in favor of the transferor's estate and the court is authorized to order the transferee to retransfer the property.

(2) A trust may be created for maintaining, keeping in repair and preserving any grave, tomb, monument, gravestone or any cemetery. Any cemetery company, association or corporation may receive property in trust for any of those purposes and apply the income from the trust to the purpose stated in the creating instrument.

(3)

(a) A trust described in sub. (2) is invalid to the extent it was created for a capricious purpose or the purpose becomes capricious.

(b) If the assets of any trust described in sub. (2) are valued at less than $5,000 and the court finds that the cost of operating the trust will probably defeat the intent of the settlor or if the trustee, including a cemetery company, association or corporation, named in the creating instrument is improperly described, the court may order distribution of the assets on terms which will as nearly as possible carry out the settlor's intention.

<< For credits, see Historical Note field. >>

COMMENTS--L.1969, C. 283, § 17

2001 Main Volume

This replaces present s. 231.11(6) and, as to cemetery trusts, s. 323.025.

HISTORICAL AND STATUTORY NOTES

2001 Main Volume

Source:
L.1969, c. 283, § 17, eff. July 1, 1971.
1989 Act 307, § 99, eff. Nov. 1, 1991.


Prior Laws:

R.S.1849, c. 57, § 11.
R.S.1858, c. 84, § 11.
R.S.1878, § 2801.
L.1883, c. 290.
L.1887, c. 388.
Ann.St.1889, § 2081.
St.1898, 2081.
L.1917, c. 170.
L.1925, c. 4.
St.1925, § 231.11.
L.1933, c. 413.
L.1935, c. 336.
L.1943, c. 93.
L.1955, c. 161.
St.1955, § 323.025.
L.1963, c. 165.
St.1967, §§ 231.11(6), 323.025.


1989 Act 307, § 99 amended subsec. (2).

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