SB759,1 1Section 1 . 30.541 (3) (d) 1. a. of the statutes is amended to read:
SB759,8,5
130.541 (3) (d) 1. a. Evidence satisfactory to the department of the appointment
2of a trustee in bankruptcy, of a certification of trust under s. 701.1013 or the
3appointment of a trustee,
or of the issuance of domiciliary letters testamentary or
4other letters authorizing the administration of a decedent's estate, letters of
5guardianship, conservatorship, special administration, or letters of trust.
SB759,2 6Section 2 . 101.9211 (4) (a) 1. of the statutes is amended to read:
SB759,8,117 101.9211 (4) (a) 1. Evidence satisfactory to the department of the appointment
8of a trustee in bankruptcy, of a certification of trust under s. 701.1013 or the
9appointment of a trustee,
or of the issuance of domiciliary letters testamentary or
10other letters authorizing the administration of a decedent's estate, letters of
11guardianship, conservatorship, special administration, or letters of trust.
SB759,3 12Section 3 . 342.17 (4) (a) 1. of the statutes is amended to read:
SB759,8,1913 342.17 (4) (a) 1. Evidence satisfactory to the department of the issuance of the
14letters testamentary or other letters authorizing the administration of an estate
,
15letters of guardianship, or letters of trust,
appointment of a trustee in bankruptcy,
16of a certification of trust under s. 701.1013 or the appointment of a testamentary
17trustee,
or of the appointment of the trustee in bankruptcy issuance of domiciliary
18letters or other letters authorizing the administration of a decedent's estate,
19guardianship, conservatorship, special administration, or trust
;
SB759,4 20Section 4 . 700.16 (1) (c) of the statutes is amended to read:
SB759,9,421 700.16 (1) (c) If a future interest or trust is created by exercise of a power of
22appointment, the permissible period is computed from the time the power of
23appointment is exercised if the power of appointment is a general power of
24appointment, as defined in s. 702.02 (5) 702.102 (7), even if the general power of
25appointment is exercisable only by will. In the case of other powers of appointment

1the permissible period is computed from the time the power of appointment is created
2but facts at the time the power of appointment is exercised are considered in
3determining whether the power of alienation is suspended beyond a life or lives in
4being at the time of creation of the power of appointment plus 30 years.
SB759,5 5Section 5 . 700.27 (1) (d) of the statutes is amended to read:
SB759,9,76 700.27 (1) (d) “Power of appointment" has the meaning given in s. 702.02 (6)
7702.102 (14).
SB759,6 8Section 6 . 701.0102 (12m) of the statutes is created to read:
SB759,9,109 701.0102 (12m) An account that is part of a qualified ABLE program under
10section 529A (b) of the Internal Revenue Code.
SB759,7 11Section 7 . 701.0103 (1m) of the statutes is created to read:
SB759,9,1412 701.0103 (1m) “Animal protector” means a person appointed in an animal trust
13to enforce the trust on behalf of the animal or, if no such person is appointed in the
14trust, a person appointed by the court for that purpose.
SB759,8 15Section 8 . 701.0103 (1n) of the statutes is created to read:
SB759,9,1716 701.0103 (1n) “Animal trust” means a trust or an interest in a trust created to
17provide for the care of one or more animals.
SB759,9 18Section 9 . 701.0103 (3) (c) of the statutes is created to read:
SB759,9,2019 701.0103 (3) (c) Is an identified charitable organization that will or may receive
20distributions under the terms of the trust.
SB759,10 21Section 10 . 701.0103 (3m) of the statutes is created to read:
SB759,9,2322 701.0103 (3m) “Broad limited power of appointment” has the meaning given
23in s. 702.102 (4).
SB759,11 24Section 11 . 701.0103 (3r) of the statutes is created to read:
SB759,10,2
1701.0103 (3r) “Charitable interest” means an interest in a trust that satisfies
2any of the following:
SB759,10,43 (a) It is held by an identified charitable organization and makes the
4organization a qualified beneficiary.
SB759,10,75 (b) It benefits only charitable organizations and, if the interest were held by an
6identified charitable organization, would make the organization a qualified
7beneficiary.
SB759,10,108 (c) It is held solely for charitable purposes and, if the interest were held by an
9identified charitable organization, would make the organization a qualified
10beneficiary.
SB759,12 11Section 12 . 701.0103 (3u) of the statutes is created to read:
SB759,10,1212 701.0103 (3u) “Charitable organization” means any of the following:
SB759,10,1413 (a) A person, other than an individual, organized and operated exclusively for
14charitable purposes.
SB759,10,1615 (b) A government or governmental subdivision, agency, or instrumentality, to
16the extent it holds funds exclusively for a charitable purpose.
SB759,13 17Section 13 . 701.0103 (3x) of the statutes is created to read:
SB759,10,2118 701.0103 (3x) “Charitable purpose” means the relief of poverty, the
19advancement of education or religion, the promotion of health, a municipal or other
20governmental purpose, or another purpose the achievement of which is beneficial to
21the community.
SB759,14 22Section 14 . 701.0103 (4) of the statutes is amended to read:
SB759,10,2523 701.0103 (4) “Charitable trust" means a trust, or portion of a trust, created for
24a charitable purpose described in s. 701.0405 (1). This subsection does not apply in
25s. 701.1201.
SB759,15
1Section 15. 701.0103 (5g) of the statutes is created to read:
SB759,11,22 701.0103 (5g) “Court” means the court that is identified in s. 701.0203 (1).
SB759,16 3Section 16 . 701.0103 (5w) of the statutes is created to read:
SB759,11,74 701.0103 (5w) “Current beneficiary” means a beneficiary that on the date the
5beneficiary's qualification is determined is a distributee or permissible distributee
6of trust income or principal or is the holder of a presently exercisable general power
7of appointment.
SB759,17 8Section 17 . 701.0103 (9) of the statutes is amended to read:
SB759,11,109 701.0103 (9) “General power of appointment" has the meaning given in s.
10702.02 (5) 702.102 (7).
SB759,18 11Section 18 . 701.0103 (11p) of the statutes is created to read:
SB759,11,1612 701.0103 (11p) “Identified charitable organization” means a charitable
13organization that is expressly designated to receive distributions under the terms of
14a charitable trust and that is not subject to a right of substitution by the settlor or
15by any other party prior to the charitable organization becoming a current
16beneficiary.
SB759,19 17Section 19 . 701.0103 (15m) of the statutes is created to read:
SB759,11,1818 701.0103 (15m) “Issue” has the meaning given in s. 851.13.
SB759,20 19Section 20 . 701.0103 (18) of the statutes is amended to read:
SB759,11,2120 701.0103 (18) “Power of appointment" has the meaning given in s. 702.02 (6)
21702.102 (14).
SB759,21 22Section 21 . 701.0103 (19m) of the statutes is created to read:
SB759,11,2323 701.0103 (19m) “Powerholder” has the meaning given in s. 702.102 (15).
SB759,22 24Section 22 . 701.0103 (19r) of the statutes is created to read:
SB759,12,2
1701.0103 (19r) “Presently exercisable power of appointment” has the meaning
2given in s. 702.102 (16).
SB759,23 3Section 23 . 701.0103 (19v) of the statutes is created to read:
SB759,12,84 701.0103 (19v) “Presumptive remainder beneficiary” means, without
5considering the existence or exercise of a power of appointment, other than a power
6of appointment that has been irrevocably exercised and notice of the exercise has
7been given to the trustee, a beneficiary that on the date the beneficiary's qualification
8is determined, would be any of the following:
SB759,12,119 (a) A distributee or permissible distributee of trust income or principal if the
10interests of any current beneficiary terminated on that date without causing the
11trust to terminate.
SB759,12,1312 (b) A distributee or permissible distributee of trust income or principal if the
13trust terminated on that date.
SB759,12,1614 (c) If the terms of the trust do not provide for its termination, a distributee or
15permissible distributee of income or principal of the trust if all the current
16beneficiaries of the trust were deceased or no longer exist.
SB759,24 17Section 24 . 701.0103 (21) (intro.) of the statutes is amended to read:
SB759,12,2018 701.0103 (21) (intro.) “Qualified beneficiary" means a beneficiary who that, on
19the date on which the beneficiary's qualification is determined, satisfies is any of the
20following:
SB759,25 21Section 25 . 701.0103 (21) (a) and (b) of the statutes are repealed and recreated
22to read:
SB759,12,2323 701.0103 (21) (a) A current beneficiary.
SB759,12,2424 (b) A presumptive remainder beneficiary.
SB759,26 25Section 26 . 701.0103 (21m) of the statutes is created to read:
SB759,13,3
1701.0103 (21m) “Record” means information that is inscribed on a tangible
2medium or that is stored in an electronic or other medium and is retrievable in
3perceivable form.
SB759,27 4Section 27 . 701.0103 (23) of the statutes is amended to read:
SB759,13,105 701.0103 (23) “Settlor" Except as otherwise provided in ss. 701.0113 and
6701.1325, “settlor”
means a person, including a testator, who creates or contributes
7property to a trust. If more than one person creates or contributes property to a trust,
8each person is a settlor of the portion of the trust property attributable to that
9person's contribution except to the extent another person has the power to revoke the
10trust or withdraw that portion.
SB759,28 11Section 28 . 701.0103 (23m) of the statutes is created to read:
SB759,13,1312 701.0103 (23m) “Sign” means, with present intent to authenticate or adopt a
13record, to do any of the following:
SB759,13,1414 (a) Execute or adopt a tangible symbol.
SB759,13,1615 (b) Attach to or logically associate with the record an electronic symbol, sound,
16or process.
SB759,29 17Section 29 . 701.0103 (24) of the statutes is renumbered 701.0103 (16m) and
18amended to read:
SB759,13,2019 701.0103 (16m) “Special “ Nongeneral power of appointment" has the meaning
20given in s. 702.02 (7) 702.102 (11).
SB759,30 21Section 30 . 701.0103 (27) of the statutes is amended to read:
SB759,13,2522 701.0103 (27) “Terms of a trust" means the manifestation of the settlor's intent
23regarding a trust's provisions as expressed in the trust instrument or, as may be
24established by other evidence that would be admissible in a judicial proceeding, or
25as may be established by court order or nonjudicial settlement agreement
.
SB759,31
1Section 31. 701.0103 (30) of the statutes is amended to read:
SB759,14,82 701.0103 (30) “Trust instrument" means an instrument, including any
3amendments or modifications to the instrument under s. 701.0111 or subch. IV, that
4is executed
a record signed by the settlor that contains terms of to create a trust or
5is created under a statute, judgment, or decree that orders property to be transferred
6to a trustee to be administered for the benefit of a beneficiary
, or by any person to
7create a 2nd trust as provided under subch. XIII, that contains some or all of the
8terms of the trust, and includes any amendments or modifications
.
SB759,32 9Section 32 . 701.0109 (title) of the statutes is amended to read:
SB759,14,10 10701.0109 (title) Methods and waiver of notice; waiver.
SB759,33 11Section 33 . 701.0109 (3) of the statutes is amended to read:
SB759,14,1412 701.0109 (3) Notice under this chapter or, the sending of a document, or the
13right to object granted
under this chapter may be waived by the person to be notified
14or, sent the document, or who has the right to object.
SB759,34 15Section 34 . 701.0109 (5) of the statutes is created to read:
SB759,14,2016 701.0109 (5) If notice is given to a trustee and more than one person is serving
17as trustee, notice given to any trustee is considered to be given to all persons serving
18as trustee, except that if a corporate trustee or an attorney licensed to practice in this
19state is serving as a trustee, notice must be given to all such corporate trustees and
20attorney trustees.
SB759,35 21Section 35 . 701.0110 (1) (intro.) of the statutes is renumbered 701.0110 (1) and
22amended to read:
SB759,15,523 701.0110 (1) A An identified charitable organization that is expressly
24designated to receive distributions under the terms of a charitable trust and that is
25not subject to a right of substitution by the settlor or by any other party prior to the

1charitable organization becoming a distributee or permissible distributee of trust
2income or principal
has the rights of a qualified beneficiary under this chapter if the
3identified charitable organization, on the date on which the identified charitable
4organization's qualification is being determined, satisfies one of the following: is a
5current beneficiary or a presumptive remainder beneficiary.
SB759,36 6Section 36 . 701.0110 (1) (a), (b) and (c) of the statutes are repealed.
SB759,37 7Section 37 . 701.0110 (2) of the statutes is amended to read:
SB759,15,118 701.0110 (2) A An animal protector or a person appointed to enforce a trust
9created for the care of an animal or another a noncharitable purpose without an
10ascertainable beneficiary
as provided in either s. 701.0408 or 701.0409 has the rights
11of a qualified beneficiary under this chapter.
SB759,38 12Section 38 . 701.0110 (3) of the statutes is amended to read:
SB759,15,1813 701.0110 (3) The attorney general of this state has the rights of a qualified
14beneficiary under this chapter with respect to a charitable trust having its principal
15place of administration in this state only when the charitable interest to be
16represented would qualify under sub. (1) but
there is no identified charitable
17organization has been expressly designated to receive distribution under the terms
18of a charitable trust
that would qualify under sub. (1).
SB759,39 19Section 39 . 701.0111 (4) of the statutes is amended to read:
SB759,15,2220 701.0111 (4) A nonjudicial settlement agreement is valid only to the extent it
21includes terms and conditions that could be properly approved, ordered, directed, or
22otherwise determined
by a court under this chapter or other applicable law.
SB759,40 23Section 40 . 701.0111 (5) (d) of the statutes is amended to read:
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