State Codes and Statutes

Statutes > Wisconsin > 701 > 701.115

701.115

701.115 Future interests in revocable trusts.

701.115(1)

(1)

701.115(1)(a)

(a) In par. (b), "revocable trust" means a trust that the grantor, at the time of death, was alone empowered to change or revoke, by law or under the instrument creating the trust, regardless of whether the grantor then had the capacity to exercise the power.

701.115(1)(b)

(b) Unless a contrary intention is found, if a person has a future interest in property under a revocable trust and, under the terms of the trust, the person has the right to possession and enjoyment of the property at the grantor's death, the right to possession and enjoyment is contingent on the person's surviving the grantor. Extrinsic evidence may be used to show contrary intent.

701.115(2)

(2) Survivorship under sub. (1) (b) is governed by s. 854.03.

701.115(3)

(3) The rights of the issue of a predeceasing beneficiary under sub. (1) (b) are governed by s. 854.06.

701.115 - ANNOT.

History: 1997 a. 188; 2005 a. 216.