What if everything about trusts were to change? Wait … it will change July 1!
There’s a new Wisconsin Trust Code coming July 1, 2014, that allows trustees more flexibility, defines a statute of limitations on trustee liability, and provides rules that are more specific for beneficiaries and trustees.
Developed with input from trust and estate lawyers, elder law lawyers, and bank and trust companies, the Wisconsin Uniform Trust Code bill (Act 92) is an exhaustive overhaul of nearly everything you know about trusts under Wisconsin law.
A complete restatement of chapter 701 Act 92 is so wide-ranging, it’s necessary to sit down and go through the fine print until you can understand what these changes mean to you and your clients. To aid in that process, segments of the full-day seminar will focus on the following areas:
- Deciphering the new Code
- Creating, modifying, and terminating a trust
- Decanting rule changes
- Caring for a trust amid spendthrifts
- Trustee duties and powers
- Directed trusts and Prudent Investor Act changes
- Trust protectors, trustee liability, and third-party rights
- Using the new rules
Gain an in-depth understanding of WTC This seminar was developed by State Bar of Wisconsin PINNACLE® with the cooperation of the State Bar’s Real Property, Probate, and Trust Section to help attorneys whose practices may encounter trust issues become familiar with the sweeping changes coming this summer. Register today!
Meet RPPT With more than 1,500 members, Real Property, Probate, and Trust is one of the largest sections of the State Bar of Wisconsin. RPPT members generally practice in the areas of real estate and/or probate and estate planning. As a lobbying section, RPPT is at the forefront of several pieces of legislation designed to help our members’ practices — most recently the Wisconsin Trust Code. RPPT is committed to the State Bar of Wisconsin’s mission to educate all lawyers.
Who should attend:
- Estate planning attorneys
- Probate attorneys
- Tax attorneys
- Elder law attorneys
- Family law attorneys
- General practice attorneys
How you’ll benefit:
- Gain an understanding of how the new Code changes trusts in Wisconsin
- Learn the legal implications for you and your estate planning clients
- Pick up tips and techniques for using the new rules in estate planning