To achieve the settlor’s tax objectives, the court may modify the terms of a trust or terminate a trust in a manner that is not contrary to the settlor’s probable intent. The court may provide that the modification or termination has retroactive effect. A party petitioning the court for action under this section shall give notice of the proceeding to the settlor, if living, the trustee, each trust protector, each directing party, and the qualified beneficiaries.
Wis. Stat. § 701.0416
Modification or termination to achieve settlor’s tax objectives
Known as the Wisconsin Trust Code
The act spans §§ 701.0101 to 701.1205 (108 sections).
2013 a. 92; 2023 a. 127.
Official source: Wisconsin State Legislature. Reproduced from public-domain Wisconsin statutes; confirm against the official source for the current text. Not legal advice.