2006 Minnesota Statutes
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Chapter 501B
Section 501B.15
Recent History
- 2015 501B.15 Repealed 2015 c 5 art 16 s 2
- 1995 501B.15 New 1995 c 130 s 2
This is an historical version of this statute chapter. Also view the most recent published version.
501B.15 DIVISION AND MERGER OF TRUSTS.
Subdivision 1. Division. A trustee may, without the approval of any court, divide a trust,
before or after it is funded, into two or more separate trusts if the trustee determines that dividing
the trust is in the best interests of all persons interested in the trust and will not substantially
impair the accomplishment of the purposes of the trust.
Subd. 2. Merger. A trustee may, without the approval of any court, merge two or more trusts
having substantially similar terms and identical beneficiaries into a single trust if the trustee
determines that merging the trusts is in the best interests of all persons interested in the trusts and
will not substantially impair the accomplishment of the purposes of the trusts.
Subd. 3. Application. Subdivisions 1 and 2 apply to all trusts whenever executed or created.
History: 1995 c 130 s 2
Subdivision 1. Division. A trustee may, without the approval of any court, divide a trust,
before or after it is funded, into two or more separate trusts if the trustee determines that dividing
the trust is in the best interests of all persons interested in the trust and will not substantially
impair the accomplishment of the purposes of the trust.
Subd. 2. Merger. A trustee may, without the approval of any court, merge two or more trusts
having substantially similar terms and identical beneficiaries into a single trust if the trustee
determines that merging the trusts is in the best interests of all persons interested in the trusts and
will not substantially impair the accomplishment of the purposes of the trusts.
Subd. 3. Application. Subdivisions 1 and 2 apply to all trusts whenever executed or created.
History: 1995 c 130 s 2
Official Publication of the State of Minnesota
Revisor of Statutes