Wisconsin Statutes 701.0709 – Reimbursement of expenses
Current as of: 2023 | Check for updates
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Terms Used In Wisconsin Statutes 701.0709
- Following: when used by way of reference to any statute section, means the section next following that in which the reference is made. See Wisconsin Statutes 990.01
- Lien: A claim against real or personal property in satisfaction of a debt.
- Property: includes real and personal property. See Wisconsin Statutes 990.01
- Trustee: A person or institution holding and administering property in trust.
(1) A trustee is entitled to be reimbursed out of the trust property, with interest as appropriate, for all of the following:
(a) Expenses that were properly incurred in the administration of the trust.
(b) To the extent necessary to prevent unjust enrichment of the trust, expenses that were not properly incurred in the administration of the trust.
(2) An advance by the trustee of money for the protection of the trust gives rise to a lien against trust property to secure reimbursement with reasonable interest.