705.01 Definitions. As used in this subchapter, unless the context otherwise requires: (1) “Account” means a contract of deposit of funds between a depositor and a financial institution, and includes a checking or savings account, certificate of deposit, share account and other like arrangement. All such contracts in which there are 2 or more parties […]
705.02 Creation of multiple-party or agency relationship. (1) Provisions in substantially the following form contained in a signature card, passbook, contract or instrument evidencing an account shall be effective to create the multiple-party accounts described in this subchapter when conspicuously printed or typewritten immediately above or adjacent to the place for the signatures of the […]
705.03 Ownership during lifetime. Unless there is clear and convincing evidence of a different intent: (1) A joint account belongs, during the lifetime of all parties, to the parties without regard to the proportion of their respective contributions to the sums on deposit and without regard to the number of signatures required for payment. The […]
705.04 Right of survivorship. (1) Sums remaining on deposit at the death of a party to a joint account belong to the surviving party or parties as against the estate of the decedent unless there is clear and convincing evidence of a different intention at the time the account is created. If there are 2 […]
705.05 Designation and powers of agent. (1) A party to an account, notwithstanding such party’s minority, or if the account has multiple parties, all of them acting in concert, may appoint one or more agents for purposes of making withdrawals from the account. The authority of an agent to make withdrawals from an account may […]
705.06 Protection of financial institutions. (1) In accordance with the terms of an account, and subject to this subchapter, ch. 112 and the duties prescribed for personal representatives in ch. 72 and unless otherwise ordered by a court of competent jurisdiction: (a) A financial institution may on request pay any sums on deposit in the […]
705.07 Rights of creditors. (1) Only the creditors of any living party to an account may subject the entire sums on deposit to their claims, as if such sums resulted solely from contributions made by the debtor party. If a joint or P.O.D. account requires the signatures of all of the parties for purposes of […]
705.08 Construction. This subchapter shall be construed in such a manner as to ensure reasonable certainty of legal result for those who establish a multiple-party or agency account. History: 1973 c. 291; 1989 a. 331.
705.09 Applicability of general transfers at death provisions. Chapter 854 applies to transfers at death under this subchapter. History: 1997 a. 188. Wisconsin’s New Probate Code. Erlanger. Wis. Law. Oct. 1998.
