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Code · Wisconsin · Chapter 701 — Trusts

701.0102 Scope.

275 words·~1 min read·/wi/chapter-701/701-0102-3

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701.0102 Scope. This chapter applies to express, charitable or noncharitable, and testamentary or living trusts, and any trust created pursuant to a statute, judgment, or decree that requires the trust to be administered in the manner of an express trust. This chapter does not apply to any of the following:
(1)A constructive or resulting trust.
(2)A guardianship.
(3)A conservatorship.
(4)A custodial arrangement made pursuant to the Uniform Transfers to Minors Act under ss. 54.854 to 54.898 or the Uniform Custodial Trust Act under ss. 54.950 to 54.988 .
(5)A common trust or a collective investment fund.
(6)A trust created by a depository agreement with a financial institution.
(7)A trust made in connection with a business transaction, including a trust created under a bond indenture or collateral trust agreement or in connection with a structured finance transaction, a common law trust under s. 226.14 , or a business trust.
(8)A voting trust.
(9)A fund maintained pursuant to court order in conjunction with a bankruptcy proceeding, business liquidation, or class action lawsuit.
(10)A trust that is part of an employee benefit arrangement or an individual retirement account.
(11)A trust established under a qualified tuition savings program or education savings account.
(12)A trust account maintained on behalf of a client or customer by a licensed service professional, including a trust account maintained by an attorney or by a real estate broker.
(12m)An account that is part of a qualified ABLE program under section 529A
(b)of the Internal Revenue Code.
(13)Any other arrangement under which a person is a nominee or escrowee for another.
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