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Wis. Stat. § 701.0604

Limitation on action contesting validity of revocable trust; distribution of trust property

Known as the Wisconsin Trust Code

The act spans §§ 701.0101 to 701.1205 (108 sections).

Applied in 1 court decision — leading case 386 Wis. 2d 757 - J. Steven Tikalsky v. Susan Friedman (2019)

Most recently applied in 386 Wis. 2d 757 - J. Steven Tikalsky v. Susan Friedman (May 2019)

2013 a. 92.

(1) A person must commence a judicial proceeding to contest the validity of a trust that was revocable immediately before the settlor’s death within the earlier of the following:

(a) One year after the settlor’s death.

(b) Four months after the trustee sent the person a copy of the trust instrument and a notice informing the person of the trust’s existence, of the trustee’s name and address, and of the time al- 18701.0604 TRUSTS lowed for commencing a proceeding. Except as provided in s. 701.0813 (2), a trustee is not liable to any person for not providing the information described in this paragraph.

(2) Upon the death of the settlor of a trust that was revocable immediately before the settlor’s death, the trustee may proceed to distribute the trust property in accordance with the terms of the trust. The trustee is not subject to liability for doing so unless one of the following applies:

(a) The trustee knows of a pending judicial proceeding contesting the validity of the trust.

(b) A potential contestant has notified the trustee of a possible judicial proceeding to contest the trust and a judicial proceeding is commenced within 60 days after the contestant sent the notification.

(3) A beneficiary of a trust that is determined to have been invalid is liable to return any distribution received.

Official source: Wisconsin State Legislature. Reproduced from public-domain Wisconsin statutes; confirm against the official source for the current text. Not legal advice.