701.0416 Modification or termination to achieve settlor’s tax objectives.
85 words·~1 min read·
/wi/chapter-701/701-0416A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
701.0416 Modification or termination to achieve settlor’s tax objectives. To achieve the settlor’s tax objectives, the court may modify the terms of a trust or terminate a trust in a manner that is not contrary to the settlor’s probable intent. The court may provide that the modification or termination has retroactive effect. A party petitioning the court for action under this section shall give notice of the proceeding to the settlor, if living, the trustee, each trust protector, each directing party, and the qualified beneficiaries.