Last updated: 7/2/2025
Common Law Trust Declaration {702}
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Description
FORM 702 - COMMON LAW TRUST DECLARATION. This form is used to officially register a domestic or foreign common law trust—also known as a business trust—with the Wisconsin Department of Financial Institutions. This form collects essential details about the trust, including its name, mailing address, principal location in Wisconsin, trustee information, and the method for accepting service of legal documents. If the trust does not have a resident trustee in Wisconsin, it must appoint the Department as its legal agent for service of process. The form requires the submission of the original Declaration of Trust (or a true copy) and all amendments, verified by affidavit and signed before a notary public. Trustees must also provide their names, addresses, and signatures. After filing, a certified copy must be recorded with the Register of Deeds in the county where the trust’s principal office is located. A $50 filing fee is required, with additional fees based on beneficial certificates sold in Wisconsin. The trust must also file an annual report with the Department by March 31 each year to remain in compliance. Sec. 226.14, Wis. Stats. www.FormsWorkflow.com
