{"data":{"id":"us-wi/wis.-stat.-701.1012","jurisdiction":"us-wi","citation":"Wis. Stat. § 701.1012","heading":"Protection of person dealing with trustee.","body":"(1) A person other than a beneficiary who in good faith assists a trustee, or who in good faith and for value deals with a trustee, without knowledge that the trustee is exceeding or improperly exercising the trustee’s powers is protected from liability as if the trustee properly exercised the power.\n(2) A person other than a beneficiary who in good faith deals with a trustee is not required to inquire into the extent of the trustee’s powers or the propriety of their exercise.\n(3) A person who in good faith delivers assets to a trustee does not need to ensure their proper application.\n(4) A person other than a beneficiary who in good faith assists a former trustee, or who in good faith and for value deals with a former trustee, without knowledge that the trusteeship has terminated is protected from liability as if the former trustee were still a trustee.\n(5) Comparable protective provisions of other laws relating to commercial transactions or transfer of securities by fiduciaries prevail over the protection provided by this section.","path":["Chs. 700-711, Property","Chapter 701 Trusts","SUBCHAPTER X LIABILITY OF TRUSTEES AND RIGHTSOF PERSONS DEALING WITH TRUSTEE"],"source_url":"https://docs.legis.wisconsin.gov/document/statutes/701.1012","current_through":"2023-24 Wisconsin Statutes updated through 2025 Wis. Act 247 (published 9-4-26)","vintage":"","retrieved_at":"2026-09-05T12:01:34Z","sha256":"5723edc9a85599a10b631068c695d717897c12328720058f0f0b336c0ce9ac93","source_id":"us-wi","stale":false,"prev":"us-wi/wis.-stat.-701.1011","next":"us-wi/wis.-stat.-701.1013"},"notice":"GroundRules: Original legal text. Not legal advice."}