(1) Unless otherwise represented with respect to a particular question or dispute, a minor, incapacitated, or unborn individual or a person whose identity or location is unknown and not reasonably ascertainable may be represented by and bound by another person having a substantially identical interest with respect to the particular question or dispute, but only to the extent there is no conflict of interest between the representative and the person represented with respect to the particular question or dispute. (2) (a) In this subsection: 1. “Contingent successor remainder beneficiary” means a beneficiary who would succeed to the interest of a presumptive remainder beneficiary if the presumptive remainder beneficiary and all of the current beneficiaries failed to take such interest. 2. “More remote contingent successor remainder beneficiary” means any contingent successor remainder beneficiary whose interest arises only upon the failure of the interest of another contingent successor remainder beneficiary. (b) A presumptive remainder beneficiary or a person authorized to represent the presumptive remainder beneficiary under sub. (1) may represent and bind a contingent successor remainder beneficiary or a more remote contingent successor remainder beneficiary for the same purposes, in the same circumstances, and to the same extent as an ascertainable beneficiary may represent and bind a minor or person who is incapacitated, unborn, or not reasonably ascertainable. (c) If a presumptive remainder beneficiary does not represent a more remote contingent successor remainder beneficiary, a contingent successor remainder beneficiary may represent and bind a more remote contingent successor remainder beneficiary for the same purposes, in the same circumstances, and to the same extent as an ascertainable beneficiary may represent and bind a minor or person who is incapacitated, unborn, or not reasonably ascertainable. (d) A contingent successor remainder beneficiary or a more remote contingent successor remainder beneficiary may be represented under pars. (b) and (c) whether or not the contingent successor remainder beneficiary or more remote contingent successor remainder beneficiary lacks capacity. (e) Under pars. (b) and (c), the difference between a beneficiary’s interest as a presumptive remainder beneficiary or contingent successor remainder beneficiary does not constitute a conflict of interest as to any more remote contingent successor remainder beneficiary.
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