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Current as of January 01, 2024 | Updated by FindLaw Staff
(1) If specifically nominated in the trust instrument, one or more persons may be designated to represent and bind a beneficiary and receive any notice, information, accounting, or report. The trust instrument may also authorize any one or more persons to designate one or more persons to represent and bind a beneficiary and receive any notice, information, accounting, or report.
(2) Except as otherwise provided in this chapter, a person designated in sub. (1) may not represent and bind a beneficiary while that person is serving as trustee.
(3) Except as otherwise provided in this chapter, a person designated in sub. (1) may not represent and bind another beneficiary if the person designated also is a beneficiary, unless one of the following applies:
(a) That person was named by the settlor.
(b) That person is one of the following:
1. The beneficiary's spouse.
2. A grandparent or descendant of a grandparent of the beneficiary.
3. A grandparent or descendant of a grandparent of the beneficiary's spouse.
Cite this article: FindLaw.com - Wisconsin Statutes Property (Ch. 700 to 710) § 701.0306. Designated representative - last updated January 01, 2024 | https://codes.findlaw.com/wi/property-ch-700-to-710/wi-st-701-0306.html
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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