Wisconsin § 701.1117 Business and other activities conducted by trustee.

Wisconsin Statutes

§ 701.1117 — Business and other activities conducted by trustee.

Wisconsin § 701.1117

Ch. 701Trusts

Subch.subch. XI of ch. 701 SUBCHAPTER XI

UNIFORM PRINCIPAL AND INCOME ACT

This text of Wisconsin § 701.1117 (Business and other activities conducted by trustee.) is published on Counsel Stack Legal Research, covering Wisconsin primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Wis. Stat. § 701.1117 (2026).

Text

1117
1117(1) (1) If a trustee who conducts a business or other activity determines that it is in the best interest of all the beneficiaries to account separately for the business or activity instead of accounting for it as part of the trust’s general accounting records, the trustee may maintain separate accounting records for its transactions, whether or not its assets are segregated from other trust assets.
1117(2) (2) A trustee who accounts separately for a business or other activity may determine the extent to which its net cash receipts must be retained for working capital, the acquisition or replacement of fixed assets, and other reasonably foreseeable needs of the business or activity and the extent to which the remaining net cash receipts are accounted for as principal o

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701.1117
701.1117(1) (1) If a trustee who conducts a business or other activity determines that it is in the best interest of all the beneficiaries to account separately for the business or activity instead of accounting for it as part of the trust’s general accounting records, the trustee may maintain separate accounting records for its transactions, whether or not its assets are segregated from other trust assets.
701.1117(2) (2) A trustee who accounts separately for a business or other activity may determine the extent to which its net cash receipts must be retained for working capital, the acquisition or replacement of fixed assets, and other reasonably foreseeable needs of the business or activity and the extent to which the remaining net cash receipts are accounted for as principal or income in the trust’s general accounting records. If a trustee sells assets of the business or other activity, other than in the ordinary course of the business or activity, the trustee shall account for the net amount received as principal in the trust’s general accounting records to the extent the trustee determines that the amount received is no longer required in the conduct of the business.
701.1117(3) (3) Activities for which a trustee may maintain separate accounting records include:
701.1117(3)(a) (a) Retail, manufacturing, service, and other traditional business activities.
701.1117(3)(b) (b) Farming.
701.1117(3)(c) (c) Raising and selling livestock and other animals.
701.1117(3)(d) (d) Management of rental properties.
701.1117(3)(e) (e) Extraction of minerals and other natural resources.
701.1117(3)(f) (f) Timber operations.
701.1117(3)(g) (g) Activities to which s. 701.1128 applies.