2025 Wisconsin Statutes & Annotations
Chapter 702 - Uniform powers of appointment act.
702.503 - Power to withdraw.

702.503 Power to withdraw.

(1) For purposes of this subchapter, and except as otherwise provided in sub. (2), a power to withdraw property from a trust is considered, during the time the power may be exercised, as a presently exercisable general power of appointment to the extent of the property subject to the power to withdraw.

(2) On the lapse, release, or waiver of a power to withdraw property from a trust, the power is treated as a presently exercisable general power of appointment only to the extent the value of the property affected by the lapse, release, or waiver exceeds the greater of the following:

(a) The amount referenced in section 2041 (b) (2) or 2514 (e) of the Internal Revenue Code.

(b) The amount referenced in section 2503 (b) of the Internal Revenue Code for each individual other than the beneficiary who makes a transfer to the trust or who is considered to make a transfer to the trust pursuant to an election to split gifts under section 2513 (a) of the Internal Revenue Code.

History: 2023 a. 127.