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Wisconsin Statutes Property (Ch. 700 to 710) § 701.1309. Court involvement

Current as of January 01, 2025 | Updated by Findlaw Staff

(1) On application of an authorized fiduciary, a person entitled to notice under s. 701.1307(3), a beneficiary, or with respect to a charitable interest the attorney general or other person that has standing to enforce the charitable interest, the court may do any of the following:

(a) Provide instructions to the authorized fiduciary regarding whether a proposed exercise of the decanting power is permitted under this subchapter and consistent with the fiduciary duties of the authorized fiduciary.

(b) Appoint a special fiduciary and authorize the special fiduciary to determine whether the decanting power should be exercised under this subchapter and to exercise the decanting power.

(c) Approve an exercise of the decanting power.

(d) Determine that a proposed or attempted exercise of the decanting power is ineffective for any of the following reasons:

1. After applying s. 701.1322, the proposed or attempted exercise does not or did not comply with this subchapter.

2. The proposed or attempted exercise would be or was an abuse of the fiduciary's discretion or a breach of fiduciary duty.

3. The proposed or attempted exercise is expressly prohibited under the terms of the first trust.

(e) Determine the extent to which s. 701.1322 applies to a prior exercise of the decanting power.

(f) Provide instructions to the trustee regarding the application of s. 701.1322 to a prior exercise of the decanting power.

(g) Order other relief to carry out the purposes of this subchapter.

(2) On application of an authorized fiduciary, the court may approve any of the following:

(a) An increase in the fiduciary's compensation under s. 701.1316.

(b) A modification under s. 701.1318 of a provision granting a person the right to remove or replace the fiduciary.

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Cite this article: FindLaw.com - Wisconsin Statutes Property (Ch. 700 to 710) § 701.1309. Court involvement - last updated January 01, 2025 | https://codes.findlaw.com/wi/property-ch-700-to-710/wi-st-701-1309/

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