Monday, June 16, 2014
Next month the new Wisconsin Trust Code will go into effect. Wisconsin is now the 27th state to adopt the Uniform Trust Code. While the new code includes many changes that will affect trusts created after and some created before the law goes into effect on July 1, 2014, it is a default statute and can be overridden. This makes it important for those creating trusts under Wisconsin law to know the relevant changes, such as the standards and roles for trustees, and procedures for disclosures to future beneficiaries.
See, Trusts and Estates Group, Wisconsin’s New Trust Code – What Does it Mean for Your Trust?, Mondaq, May 6, 2014.
Special thanks to Brian Cohan (Attorney at Law, Law Offices of Brian J. Cohan, P.C.) for bringing this article to my attention.