Wisconsin Statutes 853.19 – Advancement
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Terms Used In Wisconsin Statutes 853.19
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- Testator: A male person who leaves a will at death.
The effect of a lifetime gift by the testator on the rights of a beneficiary under the will is governed by s. 854.09.