On December 13, 2013, Govenor Scott Walker signed 2013 Wisconsin Act 92 into law which sets forth a new Wisconsin Trust Code (the “Trust Code”). This new law restates the current Wisconsin trust statutes. The Trust Code is effective on July 1, 2014, and effects both existing and future trusts. Some of the Trust Code’s notable effects are:
- A Trust can be drafted to override most of the Trust Code provisions.
- Pet Trusts are permitted.
- Testamentary Trusts unless the court orders pursuant to a petition.
If you currently have a trust or are considering obtaining a trust, please contact Steimle Birschbach, LLC, to what, if any, effect this law change may have.
SB Blog does not provide legal advice, and it should not be used or relied upon without first consulting an attorney about your particular facts and circumstances. SB Blog only relays general information.