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Minnesota Legislature

Office of the Revisor of Statutes

TRUSTS

Acknowledgments of instruments, Minn. Laws 2008 c 341 art 3 s 1, 3, 6

Adjustments between principal and income, Minn. Laws 2005 c 26 s 2-5

Administration

Cost of, value insufficient to justify, Minn. Laws 2015 c 5 art 4 s 11

Events affecting, Minn. Laws 2015 c 5 art 10 s 7

Inability to administer effectively, Minn. Laws 2015 c 5 art 4 s 10

Place of administration, Minn. Laws 2015 c 5 art 1 s 8

Principal and Income Act, Uniform, recodification, Minn. Laws 2015 c 5 art 11 s

Principal place of administration, Minn. Laws 2015 c 5 art 1 s 8

Profits arising from, Minn. Laws 2015 c 5 art 10 s 3

Affidavits of custodianship, Minn. Laws 2015 c 5 art 12 s 11

Alienation, power of, suspension, Minn. Laws 2015 c 5 art 12 s 2

Annuities, Minn. Laws 2015 c 5 art 11 s 11

Application of law

Nontrust estates, Minn. Laws 2015 c 5 art 11 s 14

Principal and Income Act, Minn. Laws 2015 c 5 art 11 s 15, 16

Trust Code generally, Minn. Laws 2015 c 5 art 1 s 2, 2015 c 5 art 13 s 1-4

Bonds, income, Minn. Laws 2015 c 5 art 11 s 7

Business trusts, directors, life insurance, Minn. Laws 2009 c 52 s 3

Business trusts, see BUSINESS TRUSTS

Certificates of custodianship, Minn. Laws 2015 c 5 art 12 s 10

Certificates of trust, Minn. Laws 2015 c 5 art 10 s 13

Church benefits boards, as trustees, Minn. Laws 2009 c 43 s

Citation of law, Minn. Laws 2015 c 5 art 1 s 1, 2015 c 5 art 11 s 18

Claims against trust, defending, Minn. Laws 2015 c 5 art 8 s 9

Combination, Minn. Laws 2015 c 5 art 4 s 14

Common law of trust, applicability, Minn. Laws 2015 c 5 art 1 s 6

Constructive trusts, Minn. Laws 2015 c 5 art 12 s 9

Conversions to or from, see under CORPORATIONS

Court proceedings, revisor's corrections, Minn. Laws 2016 c 158 art 1 s 198

Court-supervised trusts, Minn. Laws 2015 c 5 art 2 s 5

Creation

Creation in other jurisdictions, Minn. Laws 2015 c 5 art 4 s 3

Fraud, duress, or undue influence, Minn. Laws 2015 c 5 art 4 s 5

Methods, Minn. Laws 2015 c 5 art 4 s 1

Noncharitable trust without ascertainable beneficiary, Minn. Laws 2015 c 5 art 4 s 7

Oral trusts, evidence of, Minn. Laws 2015 c 5 art 4 s 6

Purposes of trust, Minn. Laws 2015 c 5 art 4 s 4

Requirements for, Minn. Laws 2015 c 5 art 4 s 2

Creditors, claims against settlors, Minn. Laws 2015 c 5 art 5 s 3

Custodial trust accounts

Debit or credit card payments from, Minn. Laws 2008 c 201 s

Custodial trusts, memorial funds, Minn. Laws 2015 c 5 art 12 s 1

Custodial trusts

Memorial funds, Minn. Laws 2004 c 146 art 1 s 1

Custodians

Affidavits of custodianship, Minn. Laws 2015 c 5 art 12 s 11

Certificates of custodianship, Minn. Laws 2015 c 5 art 12 s 10

Declarations of trust

Documents, recording, technical changes, Minn. Laws 2005 c 4 s 57

Definitions, Trust Code, revisor's corrections, Minn. Laws 2016 c 158 art 1 s 197

Definitions

Principal and Income Act, Minn. Laws 2015 c 5 art 11 s 2, 3

Trust Code generally, Minn. Laws 2015 c 5 art 1 s 3

Directed trusts, Minn. Laws 2015 c 5 art 8 s 6

Disabled persons, supplemental needs trusts, Minn. Laws 2015 c 5 art 12 s 5

Distribution trust advisors, Minn. Laws 2015 c 5 art 8 s 6

Distributions

Overdue distributions, Minn. Laws 2015 c 5 art 5 s 4

Proposals for distribution on termination of trust, Minn. Laws 2015 c 5 art 8 s 14

Right to compel, Minn. Laws 2015 c 5 art 5 s 2

Division, Minn. Laws 2015 c 5 art 4 s 14

Electronic signatures, Minn. Laws 2015 c 5 art 13 s 2

Employee compensation, Minn. Laws 2015 c 5 art 11 s 11

Existing law

Conforming changes, Minn. Laws 2015 c 5 art 15 s 1-18

Repeals

Powers of appointment, recodification, Minn. Laws 2015 c 5 art 14 s 11

Trust law, Minn. Laws 2015 c 5 art 16 s 2

Revisor's instruction, Minn. Laws 2015 c 5 art 16 s 1

Expiration by terms of trust, Minn. Laws 2015 c 5 art 4 s 8

Express trusts, Minn. Laws 2015 c 5 art 1 s 2, 2015 c 5 art 12 s 9

Family farm trusts, reports, Minn. Laws 2017 c 36 s

Family farm trusts, Minn. Laws 2004 c 254 s 41, 42

Federal estate and generation-skipping transfer taxes, formula clauses on, Minn. Laws 2011 c 66 s 3

Federal taxable income, additions and subtractions, recodification, Minn. Laws 2016 c 158 art 3 s 1-9, 12-21, 23-26, 30-33

Fiduciaries

Excluded fiduciaries, Minn. Laws 2015 c 5 art 8 s 6

Special fiduciaries, Minn. Laws 2015 c 5 art 8 s 11

Financial asset securitization investment trusts (FASITS), repealed, Minn. Laws 2017 1Sp c 1 art 17 s 5

Income

Charges against, Minn. Laws 2015 c 5 art 11 s 13

Principal and income, adjusting between, Minn. Laws 2015 c 5 art 11 s 12

Principal and Income Act, Uniform, recodification, Minn. Laws 2015 c 5 art 11 s 1-18

Inter vivos trusts, community property, disposition upon death, Minn. Laws 2013 c 24 s 4-6, 9

Inter vivos trusts

Affidavits of trustees in real property, Minn. Laws 2015 c 5 art 10 s 14

Public health care programs, trusts to shield resources, Minn. Laws 2015 c 5 art 12 s 6

Inter vivos trusts

Medical assistance or alternative care, recovery, Minn. Laws 2005 c 155 art 3 s 7, 2005 1Sp c 3 art 11 s 6, 2005 1Sp c 4 art 5 s 19

Investment trust advisors, Minn. Laws 2015 c 5 art 8 s 6

Irrevocable trusts

Creditors' or assignees' claims, Minn. Laws 2015 c 5 art 5 s 3

Noncharitable irrevocable trusts

Modification by consent, Minn. Laws 2015 c 5 art 4 s 9

Termination by consent, Minn. Laws 2015 c 5 art 4 s 9

Joint powers investment trusts, Minn. Laws 2014 c 292 s 4, 5

Judicial proceedings involving, Minn. Laws 2004 c 146 art 1 s 5

Judicial proceedings regarding

Appeals from orders, Minn. Laws 2015 c 5 art 2 s 4

Applicability of law, Minn. Laws 2015 c 5 art 2 s 8

Attorney fees and costs, Minn. Laws 2015 c 5 art 10 s 4

Court-supervised trusts, Minn. Laws 2015 c 5 art 2 s 5

Notices, Minn. Laws 2015 c 5 art 2 s 3

Orders, Minn. Laws 2015 c 5 art 2 s 4

Orders for hearing, Minn. Laws 2015 c 5 art 2 s 3

Role of court, Minn. Laws 2015 c 5 art 2 s 1

Subject matter, Minn. Laws 2015 c 5 art 2 s 2

Validity of revocable trusts, proceedings to contest, Minn. Laws 2015 c 5 art 6 s 5

Venue, Minn. Laws 2015 c 5 art 2 s 7

Jurisdiction, determining, Minn. Laws 2015 c 5 art 1 s 7

Knowledge, defined, Minn. Laws 2015 c 5 art 1 s 4

Life insurance, insurable interest in life of insured required, Minn. Laws 2009 c 52 s 3

Living trusts, see Inter vivos trusts under this topic

Majority, trusts relating to, Minn. Laws 2015 c 5 art 12 s 4

Medical assistance recipients, generally, Minn. Laws 2017 1Sp c 6 art 4 s 18

Memorial funds, Minn. Laws 2015 c 5 art 12 s 1

Memorial funds, Minn. Laws 2004 c 146 art 1 s 1

Minority, trusts relating to, Minn. Laws 2015 c 5 art 12 s 4

Modification or correction by court, Minn. Laws 2016 c 135 art 2 s 28, 29

Modification

Noncharitable irrevocable trusts, consent, Minn. Laws 2015 c 5 art 4 s 9

To achieve settlor's tax objectives, Minn. Laws 2015 c 5 art 4 s 13

Unanticipated circumstances, Minn. Laws 2015 c 5 art 4 s 10

Uneconomic trusts, Minn. Laws 2015 c 5 art 4 s 11

Natural resources, disposition, Minn. Laws 2015 c 5 art 11 s 9

Noncharitable trusts

Noncharitable irrevocable trusts

Modification by consent, Minn. Laws 2015 c 5 art 4 s 9

Termination by consent, Minn. Laws 2015 c 5 art 4 s 9

Noncharitable trust without ascertainable beneficiary, Minn. Laws 2015 c 5 art 4 s 7

Nonjudicial settlement agreements, Minn. Laws 2015 c 5 art 1 s 11

Nonjudicial settlement agreements, Minn. Laws 2004 c 146 art 1 s 4, 5

Nonprofit insurance trust, Minn. Laws 2009 c 53 s

Nontrust estates, Minn. Laws 2015 c 5 art 11 s 14

Notices about

Judicial notice, Minn. Laws 2015 c 5 art 1 s 9, 2015 c 5 art 2 s 1-8

Nonjudicial notice, Minn. Laws 2015 c 5 art 1 s 9

To persons other than qualified beneficiaries, Minn. Laws 2015 c 5 art 1 s 10

Oral trusts, evidence of, Minn. Laws 2015 c 5 art 4 s 6

Petitions for court orders, Minn. Laws 2005 c 26 s 1

Place of administration, Minn. Laws 2015 c 5 art 1 s 8

Power of attorney, Minn. Laws 2009 c 30 art 3 s 4

Powers of appointment, recodification, Minn. Laws 2015 c 5 art 14 s 1-12

Principal

Charges against, Minn. Laws 2015 c 5 art 11 s 13

Principal and income, adjusting between, Minn. Laws 2015 c 5 art 11 s 12

Principal and Income Act, Uniform, recodification, Minn. Laws 2015 c 5 art 11 s 1-18

Principles of equity, applicability, Minn. Laws 2015 c 5 art 1 s 6

Public assistance eligibility, trusts linked to, Minn. Laws 2015 c 5 art 12 s 5

Public health care programs

Trusts to shield resources, Minn. Laws 2015 c 5 art 12 s 6

Trusts with limitations linked to, Minn. Laws 2015 c 5 art 12 s 5

Purchasers from, Minn. Laws 2015 c 5 art 12 s 9

Purposes of trust, Minn. Laws 2015 c 5 art 4 s 4

Qualified beneficiaries

Other persons sharing rights of, Minn. Laws 2015 c 5 art 1 s 10

Real estate investment trust distributions, as income, Minn. Laws 2010 c 334 s 4

Real property, custodianships

Affidavits of custodians, form, Minn. Laws 2006 c 221 s 5

Certificates of custodianship, Minn. Laws 2006 c 221 s 4

Records and record keeping

Electronic records, Minn. Laws 2015 c 5 art 13 s 2

Trust property, Minn. Laws 2015 c 5 art 8 s 8

Reinsurance, Minn. Laws 2018 c 125 s 6

Removal, petitions for court orders for, Minn. Laws 2004 c 146 art 1 s 6

Representation

Basic effects of, Minn. Laws 2015 c 5 art 3 s 1

By court, Minn. Laws 2015 c 5 art 3 s 5

By fiduciaries, Minn. Laws 2015 c 5 art 3 s 3

By holders of general powers, Minn. Laws 2015 c 5 art 3 s 2

By parents, Minn. Laws 2015 c 5 art 3 s 3

By persons having substantially identical interest, Minn. Laws 2015 c 5 art 3 s 4

Resulting trusts, Minn. Laws 2015 c 5 art 12 s 9

Retirement plans

Principal and income, Minn. Laws 2015 c 5 art 11 s 11

Trusts forming part of, Minn. Laws 2015 c 5 art 12 s 3

Revocable trusts, property passed, Minn. Laws 2016 c 135 art 2 s 27

Revocable trusts

Amendment, Minn. Laws 2015 c 5 art 6 s 2, 3

Revocation, Minn. Laws 2015 c 5 art 6 s 2

Settlors

Capacity of, Minn. Laws 2015 c 5 art 6 s 1

Powers, Minn. Laws 2015 c 5 art 6 s 4

Validity, proceedings to contest, Minn. Laws 2015 c 5 art 6 s 5

Revocation

Revocable trusts, Minn. Laws 2015 c 5 art 6 s 2

Revocation or expiration by terms of trust, Minn. Laws 2015 c 5 art 4 s 8

Settlors' former spouses, dissolution of marriage, Minn. Laws 2015 c 5 art 12 s 7

Settlors

Control reserved to, Minn. Laws 2015 c 5 art 12 s 8

Creditors' claims against, Minn. Laws 2015 c 5 art 5 s 3

Former spouses, dissolution of marriage, Minn. Laws 2015 c 5 art 12 s 7

Severability of law, Minn. Laws 2015 c 5 art 13 s 3

Sole beneficiaries, spouses inheriting as, Minn. Laws 2008 c 341 art 4 s 2

Spendthrift trusts, Minn. Laws 2015 c 5 art 5 s 1, 2

Statutes of limitations

Actions against trustees, Minn. Laws 2015 c 5 art 10 s 5

Validity of revocable trusts, proceedings to contest, Minn. Laws 2015 c 5 art 6 s 5

Statutory construction, Minn. Laws 2015 c 5 art 1 s 12, 2015 c 5 art 11 s 17, 2015 c 5 art 13 s 1-4

Stocks, Minn. Laws 2015 c 5 art 11 s 6

Supplemental needs trusts, Minn. Laws 2015 c 5 art 12 s 5

Taxes, estimated taxes, Minn. Laws 2011 c 112 art 1 s 5-7

Termination

Noncharitable irrevocable trusts, consent, Minn. Laws 2015 c 5 art 4 s 9

Proposals for distribution on termination of trust, Minn. Laws 2015 c 5 art 8 s 14

Revocation or expiration by terms of trust, Minn. Laws 2015 c 5 art 4 s 8

Unanticipated circumstances, Minn. Laws 2015 c 5 art 4 s 10

Uneconomic trusts, Minn. Laws 2015 c 5 art 4 s 11

Terms of

Meaning and effect, how determined, Minn. Laws 2015 c 5 art 1 s 7

Place of administration, Minn. Laws 2015 c 5 art 1 s 8

Prevailing over law, Minn. Laws 2015 c 5 art 1 s 5

Reformation to correct mistakes, Minn. Laws 2015 c 5 art 4 s 12

Reliance on, Minn. Laws 2015 c 5 art 10 s 6

Relieving trustee of liability for breach of trust, Minn. Laws 2015 c 5 art 10 s 8

Revocation or expiration by terms of trust, Minn. Laws 2015 c 5 art 4 s 8

Testamentary trusts, affidavits of trustees in real property, Minn. Laws 2015 c 5 art 10 s 14

Timber, as principal, Minn. Laws 2015 c 5 art 11 s 10

Trust agreements, estate taxes, references to, Minn. Laws 2010 c 334 s 2, 14

Trust of care of animal, Minn. Laws 2016 c 135 art 1 s 1-4, 2016 c 187 s 2

Trust property

Annuities, Minn. Laws 2015 c 5 art 11 s 11

Bonds, Minn. Laws 2015 c 5 art 11 s 7

Control, Minn. Laws 2015 c 5 art 8 s 7

Delivery, Minn. Laws 2015 c 5 art 8 s 7

Employee compensation, Minn. Laws 2015 c 5 art 11 s 11

Identification, Minn. Laws 2015 c 5 art 8 s 8

Investment, Prudent Investor Act, Minn. Laws 2015 c 5 art 9 s 1

Loss or depreciation in value, Minn. Laws 2015 c 5 art 10 s 3

Natural resources, Minn. Laws 2015 c 5 art 11 s 9

Personal obligations of trustees, Minn. Laws 2015 c 5 art 5 s 5

Principal and income, adjusting between, Minn. Laws 2015 c 5 art 11 s 12

Principal and Income Act, Uniform, recodification, Minn. Laws 2015 c 5 art 11 s , 1-18

Property subject to depletion, Minn. Laws 2015 c 5 art 11 s 11

Protection, Minn. Laws 2015 c 5 art 8 s 7

Records and record keeping, Minn. Laws 2015 c 5 art 8 s 8

Retirement plans, Minn. Laws 2015 c 5 art 11 s 11

Stocks, Minn. Laws 2015 c 5 art 11 s 6

Timber, Minn. Laws 2015 c 5 art 11 s 10

Trust protectors, Minn. Laws 2015 c 5 art 8 s 6

Trustees

Accepting or declining trusteeship, Minn. Laws 2015 c 5 art 7 s 1

Actions against, statutes of limitations, Minn. Laws 2015 c 5 art 10 s 5

Administration of trust by, Minn. Laws 2015 c 5 art 8 s 1

Bonds, Minn. Laws 2015 c 5 art 7 s 2

Breaches of trust

Breaches by former trustees, Minn. Laws 2015 c 5 art 8 s 9

Damages, Minn. Laws 2015 c 5 art 10 s 2

Liability for, Minn. Laws 2015 c 5 art 10 s 8

Remedies, Minn. Laws 2015 c 5 art 10 s 1

Claims against trust, defending, Minn. Laws 2015 c 5 art 8 s 9

Claims of trust, enforcing, Minn. Laws 2015 c 5 art 8 s 9

Compensation, Minn. Laws 2015 c 5 art 7 s 8

Conduct, beneficiary's consent to, Minn. Laws 2015 c 5 art 10 s 9

Cotrustees, Minn. Laws 2015 c 5 art 7 s 3

Delegation of duties and powers, Minn. Laws 2015 c 5 art 8 s 5

Directed trusts, Minn. Laws 2015 c 5 art 8 s 6

Expenses, reimbursement, Minn. Laws 2015 c 5 art 7 s 9

Former trustees, Minn. Laws 2015 c 5 art 8 s 9

General powers, Minn. Laws 2015 c 5 art 8 s 12

Impartiality, Minn. Laws 2015 c 5 art 8 s 3

Informing and reporting to beneficiaries, Minn. Laws 2015 c 5 art 8 s 10

Investment trust advisors, Minn. Laws 2015 c 5 art 8 s 6

Liability, Minn. Laws 2015 c 5 art 10 s 6-8, 10, 11

Loyalty to beneficiaries, Minn. Laws 2015 c 5 art 8 s 2

Personal obligations of, Minn. Laws 2015 c 5 art 5 s 5

Persons dealing with, liability, Minn. Laws 2015 c 5 art 10 s 12

Proposals for distribution on termination of trust, Minn. Laws 2015 c 5 art 8 s 14

Prudent administration, Minn. Laws 2015 c 5 art 8 s 4

Prudent Investor Act, recodification in Trust Code, Minn. Laws 2015 c 5 art 9 s 1

Removal, Minn. Laws 2015 c 5 art 7 s 6, 7

Resignation, Minn. Laws 2015 c 5 art 7 s 5, 7

Sole proprietorships, Minn. Laws 2015 c 5 art 11 s 8

Specific powers, Minn. Laws 2015 c 5 art 8 s 13

Successors, appointment, Minn. Laws 2015 c 5 art 7 s 4

Trustees in real property, affidavits of, Minn. Laws 2015 c 5 art 10 s 14

Vacancies in trusteeship, Minn. Laws 2015 c 5 art 7 s 4

When control is reserved to settlors, Minn. Laws 2015 c 5 art 12 s 8

Trustees

Corporate trustees, successors, Minn. Laws 2004 c 146 art 1 s 2

Powers, exercise, Minn. Laws 2004 c 146 art 1 s 3

Successor trustees, corporate trustees, Minn. Laws 2004 c 146 art 1 s 2

Uniform Fiduciary Access to Digital Assets Act, Minn. Laws 2016 c 135 art 2 s 2-20

Uniform Principal and Income Act, Minn. Laws 2010 c 334 s 4