Grant County herald. [volume] (Lancaster, Wis.) 1850-1968, 1878-04-04
Published March IL, 1881
CHAPTER ll9.


AN ACT respecting trusts created by will, and
repeating chapter il6 Of the laws of Wiscon-
sin for 1874.
The people of the State of Wisconsin, repre-.
sented in Senate aud assembly do enact as
follows:
Section |. Every trustee to whom any es
tate real or personal, shall be devised or be-
queathed in trust for any person, or who may
be appointed by any county court to carry out
the provisions Of any WILL when such will Gre
ates trust without naming trustee shall be-
fore he enters upon bis duties as trustee,
make and file in the county court, having
jurisdiction Of the probate Of the will, an oath
to the effect that he will comply with the pro-
visions of this act, and will faithfully perfor o
his duties as trustee. Such trustee shall within
three months after he accepts the trust, make
aud file in said court true inventory, veri.
fed by his oath, of all the property, real, per-
sonal or mixed, so devised and bequeathed to
him and shall annually thereafter make re,
port to said court Of his management of the
trust property, stating therein in detail in
what It is invested OF consists its amount and
income.
Section 3. If by the provisions of the will
the trustee, before he receives the trust prop
erty, is to give security, then he shall give
bond to The county judge and his successor in
Office, IL such sum as the Judge or county
court may order with sufficient sureties. con-
ditioned that be viii file the inventory and
make the reports required by the provisions
of this act, and that IL the expiration of his
trust be will settle his accounts with said court
aud pay out and deliver according to law al
money and property in his hands, or for which
he is liable, and that he will faithfully perform
the duties of trustee. II, by the provision of
tue will no security is required of the trustee,
the court may, at any time after the will is
proved order the trustee to give such or sim
liar bonds, if IL appears that il il required by
reason of any change after the will was execu-
ted, in the condition, situation or circumstan>
ces of the trustee, or that there is any other
good and sufficient reason therefor.
Section g. Any trustee who shall neglect
or refuse TO give any bond required by the
court, pursuant to the provisions of this act.
for twenty days after notice that such bond
is required, shall If he has not already entered
upon his duties as trustee, be considered to
have declined the acceptance OF the trust; and
1t he has entered upon such duties, such neg
iect or refusal shall be good cause for his re-
moval also such trustee may be removed BY
the court for imbecility of mind, incspacity or
insanity, due notice being first given him.
Section 4, Any trustee may be permitted
by the county court to resign his trust if the
court deem IL expedient. II any trustee di,,
resign or be removed, another trustee after
notice to the persons interested may be by the
court appointedsin His stead. The trust estate
shall vest in the trustee so appointed rs full
10 all intents and purposes, as i, d. iu his
predecessor; and the court may by its order
II it deem best. transfer IL to him, or dire
and require his predecessor so to do. and he
may sue for and recover the same
Section s. To keep the trust property from
being removed out of the State, or improper
ly or Illegally used or invested, the county
cour. shall have the same power as circuit
courts TO issue the writ of ne ezeat and iniurc-
ton, aud may from time to time make ali nc
esssry orders and DEGREES in relation TO the
trust property, lie sale, management, invest
ment and disposition and the settlement of
the accounts Of the trustee.
Section. 8. Chapter one hundred and six
teen of abe laws Of Wisconsin for 1874, entt-
led ian act 70 confer upon the county court
jurisdiction OF trusts, created by will, and to
prescribe proceedings in said court in relation
thereto" Is hereby repealed; but the repea
shall not affect any bond or proceedings here
tof0ge given or had under said chapter.
Section q. This act shall take effect and
be In force from and after its passage aud
publication.
Approved March 8, 1878.
Published Mrrch ~, 1875
CPAPTERs5.