2017 Wisconsin Statutes & Annotations
Chapter 54. Guardianships and conservatorships.
54.958 Transfer to custodial trustee by fiduciary or obligor; facility of payment.

Universal Citation: WI Stat § 54.958 (2017)

54.958 Transfer to custodial trustee by fiduciary or obligor; facility of payment.

(1) Unless otherwise directed by an instrument designating a custodial trustee pursuant to s. 54.954, a person, including a fiduciary other than a custodial trustee, who holds property of or owes a debt to an incapacitated individual not having a conservator or guardian of the estate may make a transfer to an adult member of the beneficiary's family or to a trust company as custodial trustee for the use and benefit of the incapacitated individual. If the value of the property or the debt exceeds $10,000, the transfer is not effective unless authorized by the court.

(2) A written acknowledgment of delivery, signed by a custodial trustee, is a sufficient receipt and discharge for property transferred to the custodial trustee pursuant to this section.

History: 1991 a. 246; 2005 a. 387 s. 558; Stats. 2005 s. 54.958.

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