Wisconsin Statutes 701.0110 – Others treated as qualified beneficiaries
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Terms Used In Wisconsin Statutes 701.0110
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Person: includes all partnerships, associations and bodies politic or corporate. See Wisconsin Statutes 990.01
- Qualified: when applied to any person elected or appointed to office, means that such person has done those things which the person was by law required to do before entering upon the duties of the person's office. See Wisconsin Statutes 990.01
- Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
- State: when applied to states of the United States, includes the District of Columbia, the commonwealth of Puerto Rico and the several territories organized by Congress. See Wisconsin Statutes 990.01
(1) An identified charitable organization has the rights of a qualified beneficiary under this chapter if the identified charitable organization, on the date on which the identified charitable organization’s qualification is being determined, is a current beneficiary or a presumptive remainder beneficiary.
(2) An animal protector or a person appointed to enforce a trust created for a noncharitable purpose without an ascertainable beneficiary as provided in either s. 701.0408 or 701.0409 has the rights of a qualified beneficiary under this chapter.
(3) The attorney general of this state has the rights of a qualified beneficiary under this chapter with respect to a charitable trust having its principal place of administration in this state only when there is no identified charitable organization that would qualify under sub. (1).