Wisconsin Statutes Property (Ch. 700 to 710) § 701.1302. Definitions

(1) “Authorized fiduciary” means any of the following:

(2) “Decanting power” means the power of an authorized fiduciary under this subchapter to distribute property of a first trust to one or more 2nd trusts or to modify the terms of the first trust.

(3) “Expanded distributive discretion” means a discretionary power of distribution that is not limited to an ascertainable standard or a reasonably definite standard.

(4) “First trust” means a trust over which an authorized fiduciary may exercise the decanting power.

(5) “First-trust instrument” means the trust instrument for a first trust.

(6) “Reasonably definite standard” means a clearly measurable standard under which a holder of a power of distribution is legally accountable within the meaning of section 674(b)(5)(A) of the Internal Revenue Code and any applicable regulations.

(7) “Second trust” means any of the following:

(8) “Second-trust instrument” means the trust instrument for a 2nd trust.