First Wisconsin National Bank v. Wisconsin Academy of Sciences, Arts & Letters

The First Wisconsin National Bank (trustee) appeals from an order directing disbursement of the corpus of an inter vivos trust pursuant to a stipulation between the estate of the settlor and the Wisconsin Academy of Sciences, Arts and Letters (Academy), the only claimants of the trust assets. The trustee was not a party to the stipulation, and opposed the distribution it outlined. Because we hold that the trial court had no authority to order the stipulated disposition without the approval of the trustee, we reverse.

The facts are undisputed for purposes of this appeal. 1 Dr. Elizabeth McCoy…