701.0506 Overdue distribution.
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/wi/chapter-701/701-0506A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
701.0506 Overdue distribution.
(1)In this section, “mandatory distribution” means a distribution of income or principal that the trustee is required to make to a beneficiary under the terms of the trust, including a distribution upon termination of the trust. “Mandatory distribution” does not include a distribution subject to the exercise of the trustee’s discretion even if any of the following applies:
(a)The discretion is expressed in the form of a standard of distribution.
(b)The terms of the trust authorizing a distribution couple language of discretion with language of direction.