MN TRUST ADMINISTRATION DESKBOOK W/CLETRUST
Deskbook
ITEM #:  50092919   |   PUBLISHED:  AUGUST 1, 2018
STANDARD PRICE
$249.00
DISCOUNTS WILL BE APPLIED DURING CHECKOUT, IF APPLICABLE.

Minnesota Trust Administration Deskbook with CLETrust, 3rd Edition

Edited by Diana L. Marianetti, Thomas H. Rauenhorst & Ivory S. Umanah

The Third Edition of the  Minnesota Trust Administration Deskbook is a user-friendly practice aid for those creating and administering trusts in Minnesota. Written by a team of more than 25 attorneys and co-edited by two seasoned practitioners in this area, the Deskbook has been revived, revised, and expanded, offering comprehensive coverage of this subject matter. Covering everything from the initial trust analysis and creation to funding and investment, venue and jurisdiction, litigation, and termination, the Deskbook covers everything you need to know to practice in this area. The Deskbook also give in-depth coverage to special needs trusts, charitable trusts, supplemental needs trusts, taxation, and real estate issues. The Minnesota Trust Administration Deskbook chapters include numerous practice tips that go beyond the law to share real-world expert advice. Rounded out by a complete chapter of forms, trustworthy indexes, and a comprehensive table of authorities, the Deskbook takes its place as the premier manual for administering trusts in Minnesota. The Deskbook is replete with authority – case, rule, and statutory – helping you find what you need, when you need it. 

CLETrust SUBSCRIPTION:
Every Minnesota Trust Administration Deskbook purchase includes a subscription to Minnesota CLE's CLETrust Automated Document System, a fully automated document assembly system to help Minnesota attorneys tackle any trust matter, large or small. (For complete information about this product, visit the CLETrust section of our website.)

  • Hard Copy Purchasers: Instructions on obtaining your free CLETrust subscription will be mailed to you with your hard copy. The CLETrust subscription extends from the time of activation until the next update or edition is issued.
  • LinkedLaw Purchasers: Please call Minnesota CLE at 800-759-8840 to activate your CLETrust subscription. The CLETrust subscription extends from the time of activation until your LinkedLaw subscription expires. 

2018 UPDATE
The 2018 Update to the Minnesota Trust Administration Deskbook, with updates to 13 chapters, includes analysis and examination of the Minnesota Trust Code, new case law, statutes, and changes to court rules, as well as invaluable practice tips and examples from experienced practitioners. The 2018 Update also includes a fully revised Ch. 14, Federal and State Taxation of Trust, which now has extensive coverage of the new 2017 Tax Cuts and Jobs Act and its impact on trust administration. The Update also features analysis of confidentiality and attorney-client privilege between a fiduciary client, a trust beneficiary, and an attorney, along with further examination of decanting, exercise of decanting power, and a look at the future of decanting in Minnesota. Written by highly skilled and knowledgeable attorneys practicing in all areas of trust law, including trust creation, administration, management, and termination, this Deskbook is a must-have for attorneys working in this area of the law.

BUNDLE AND SAVE!
Purchase the hard copy and receive a coupon code to purchase the corresponding LinkedLaw eDeskbook for only $50! Code will be sent to you with your hard copy.

CHAPTER 1
Overview and Sources of Minnesota Trust Law
Scope of Chapter; Introduction and General History; Holdover Provisions of Chapter 501B; Charitable Trusts and Their Supervision; Supervision of Charitable Trusts and Trustees Act; Sales and Leases of Real Property; General Provisions; Judicial Proceedings; Representation; Creation, Validity, Modification, and Termination of Trusts; Spendthrift Trusts; Revocable Trusts; Office of Trustee; Duties and Powers of Trustee; Prudent Investor Act; Liability of Trustees and Rights of Person Dealing with Trustee; Uniform Principal and Income Act; Miscellaneous; Application and Construction of Trust Code; Powers of Appointment
– Sheryl G. Morrison & Kirsten E. Johanson

CHAPTER 2
Professional Responsibility
Introduction; Indentifying the Client; Competence and Communication; Fees; Conflicts of Interest Associated with Drafting Instruments; Business Transactions with Trustees or Beneficiaries; Confidentiality and Candor to the Tribunal; Execution of Trust Documents; Duties the Attorney for the Trustee Owes the Beneficiaries; Conflicts of Interest; Former Client Conflicts; Ending the Attorney-Client Relationship; Resources
– Ken Jorgensen & Jennifer A. Ede

CHAPTER 3
Creation of Trusts
Statutory Authority for the Creation of Trusts; The Essential Elements of a Trust; The Testamentary Trust; Inter Vivos Trusts; Some Specific Types of Inter Vivos Trusts; Trust Construction; The Rule Against Perpetuities; Rights of Creditors and Spouses to a Settlor’s Trust Assets; Tax Consequences of the Creation of Trust; Disclaimers; Title to Trust Assets if Trust is Unauthorized; Resulting Trusts; Disclaimers; Title to Trust Assets if Trust is Unauthorized; Resulting Trusts; Constructive Trusts; Trust Modification
– Michelle L. Rehbein & Touch Thouk

CHAPTER 4
Revocable Trusts
Introduction; Creating, Amending, or Revoking the Trust; Funding and Administering a Revocable Trust During the Settlor’s Lifetime; Incapacity and Succession of Trustees; Power of the District Court (Probate Division) Over Revocable Trusts and its Authority to Set Aside a Revocable Trust; Taxation During Settlor’s Life; Administration of Revocable Trust After the Settlor’s Death; Interpretation – Laws and Comparison of Revocable Trusts and Wills; Estate Taxes; Income Taxes After the Settlor’s Death; Appendix A – Transfer of Assets; Appendix B – Instruction Letter Regarding Transfer of Mutual Fund Accounts; Appendix C – Letter From Settlor to Trustee Regarding Delivery of Deed with Trustee Receipt; Appendix D – Affidavit of Delivery; Appendix E – Appointment of Successor Trustee; Appendix F – Request to Reissue United States Savings Bonds to a Personal Trust; Appendix G – Affidavit of Trustee; Appendix H – Election to Treat A Qualified Revocable Trust as Part of an Estate
– Adam J. Rohne

CHAPTER 5
Charitable Trusts
Introduction; Administration of Charitable Trusts; Modification of Charitable Trusts and Institutional Funds; Attorney General Supervision of Charitable Trusts; Charitable Trusts as Organizations Exempt from Federal Income Tax; Certain Types of Charitable Split Interest Trusts
– Sheryl G. Morrison & Wade S. Hauser

CHAPTER 6
Supplemental Needs Trusts
Introduction; Supplemental Needs Trusts; Purely Discretionary Trusts; Special Needs Trusts; Pooled Special Needs Trusts; ABLE Act Accounts; Appendix A – Trust Comparison Chart
– Jeffrey W. Schmidt

CHAPTER 7
Minnesota Uniform Statutory Rule Against Perpetuities
Summary of the Common Law Rule Against Perpetuities; Uniform Statutory Rule Against Perpetuities – Minnesota Statutes Chapter 501A; Drafting Considerations Under the Uniform Rule; Effective Dates for USRAP in Minnesota; The Uniform Statutory Rule Against Perpetuities and “Grandfathering” Regulations of the Federal Generation-Skipping Transfer Tax
– AmyAnn W. Mursu

CHAPTER 8
Trustees’ Duties, Powers, and Liabilities
Overview of A Trustee’s Powers and Duties Relating to the Administration of the Trust; Specific Powers of Trustee; Specific Duties of Trustee; Delegation of Duties; Liability to Parties Other Than Trust Beneficiaries; A Beneficiary’s Remedies of Beneficiary for Breach of Trust; Limitation of Liability; Appendix A – Minnesota Statutes Section 501C.0815 & 501C.0816
– Christopher J. Burns, Lloyd Stern, Maria D. Pitner & Terri Lindfors

CHAPTER 9
Investment of Trust Assets
Introduction; Historic Overview; Modern Portfolio Theory; The Prudent Investor Rule; Managing the Trust Portfolio
– William C. Kuhlmann & Thomas H. Rauenhorst

CHAPTER 10
Minnesota Uniform Principal and Income Act
The Trustee’s Duty of Impartiality; The Minnesota Uniform Principal and Income Act; Trustee Duties as to Classifying Receipts and Expenditures; When Rights to Income Arise and Terminate; Distributions From Decedent’s Estate (and Trusts); Entity Distributions; Bond Premium/Discount; Sole Proprietorships; Natural Resources (Except Timber); Timber; Annuities, Employment Distributions, Other Property Subject to Depletion; The Trustee’s Power to Adjust; Charges Against Income and Principal
– Terry L. Slye & Andrew M. Baese

CHAPTER 11
Discretionary Distributions and Terminations
Introduction; Sources of Applicable Law; The Intent of the Settlor; Distribution Standards; Documentation and Distribution Process; Considering the Beneficiary’s Other Resources; Duty of Impartiality; Miscellaneous Issues in Connection with Discretionary Distributions; Unauthorized Distributions; Judicial Review
– Joel A. Sommers

CHAPTER 12
Termination of Trusts
Introduction; When Does a Trust Terminate?; Steps to Wind Up the Trust Administration; Appendix A – Waiver of Accounting and Release; Appendix B – Consent to Final Account and Plan of Division and Release; Appendix C – Plan of Division & Proposed Plan of Distribution
– Kelli A. Hill & Marcia E. Urban

CHAPTER 13
Real Estate Issues
Real Estate; Introduction: Environmental Liability; CERCLA, SARA, and The Brownfields Act; Other Federal Acts; Minnesota Environmental Response and Liability Act; MPCA Voluntary Investigation and Cleanup Program; Application to Fiduciaries; Protection Against Liability; Addressing Contamination; History and Context of the Corporate Farm Act; Family Farm Trust; Family Farm Trust Estate Planning Considerations; Business Entities; Reporting; Violation and Penalties; Appendix A – 501C.1013 Certificate of Trusts; Appendix B – 501C.1014 Affidavit of Trustee in Real Property Transactions; Appendix C – Form No. 37-M: Trustee’s Deed by Individual(s); Appendix D – Form No. 38-M: Trustee’s Deed by Individual to Joint Tenants; Appendix E – Form No. 39-M: Trustee’s Deed by Corporation; Appendix F – Form No 40-M: Trustee’s Deed by Corporation to Joint Tenants; Appendix G – Certificate of Trust; Appendix H – Affidavit or Trustee
– Christopher B. Hunt & Paul S. Moe

CHAPTER 14
Federal and State Income Taxation of Trusts
Introduction; Trusts as Separate Taxpayers; Fiduciary Income Tax Preliminaries; Distributable Net Income; Taxation of Simple Trusts; Taxation of Complex Trusts; Fiduciary Income Tax Calculations; Tax Planning for Trust Distributions; Subchapter S Trusts; Grantor Trust Rules and Planning for Use of Defective Trusts
– John R. Bedosky

CHAPTER 15
Court Jurisdiction and Procedure
Overview; Court Proceedings; Court Supervision; Specific Actions
– Tessa R. Mielke & Jesse Sheedy

CHAPTER 16
Post-Death Distributions from Retirement Accounts
Definitions; Special Lifetime Distribution Rules; Distribution Options; Distribution Options if Account Owner Dies On or After the RBD and the Following Person(s) is the Beneficiary; Fiduciary Income Tax Return Issues Including Distributable Net Income Deduction; More Examples and Options; Appendix A – Tables; Appendix B – Example of NUA Account Statement
– Bryan Jamison

CHAPTER 17
CLETrust Forms, Optional Paragraphs, and Trust Companies
Part A: CLETrust Forms and List of Major County Headings; Part B: Optional Paragraphs; Part C: Trust Institutions – Minnesota, History of Bank Mergers and Name Changes
– Scott M. Nelson & Todd Andrews

CHAPTER 18
Directed Trusts
Directed Trusts; Definitions; Powers of Investment Trust Advisor; Powers of Distribution Trust Advisor; Powers of Trust Protector; Fiduciary Duties and Standards; Excluded Fiduciary
– Michael P. Sampson & Jason Schuller

CHAPTER 19
Decanting
Introduction; Decanting Defined and Legal Basis for Decanting; When to Decant; How to Decant; Restrictions on Exercise of Decanting Power; Method of Decanting; Virtual Representation; Trustee Liability; Tax Considerations; Other Non-Tax Considerations; The Other Side – How Do Practitioners Advise Individuals Wanting to Restrict Flexibility; The Future of Trust Decanting in Minnesota
– Caitlin E. Abram

Table of Authorities
Subject Index

CLETrust SUBSCRIPTION
More than 70 automated forms (see the CLETrust section of our website for more information about CLETrust):

  • T-001 Notice and Order for Hearing Pursuant to Minn. Stat. § 501C.0203
  • T-002 Appearance and Waiver of Rights Under Service Members Civil Relief Act
  • T-003 Waiver of Notice by Publication
  • T-004 Waiver of Notice and Hearing by Qualified Beneficiary and Trustee
  • T-005 Notice of Filing Order
  • T-006 Affidavit of Service Notice and Order for Hearing
  • T-007 Affidavit of Mailing Annual Account
  • T-009 Affidavit of [Name of Attorney] for Attorney Fees
  • T-010 Appointment of Successor Trustee and Resignation of Trustee
  • T-011 Acceptance of Appointment of Successor Individual Trustee
  • T-012 Acceptance of Appointment of Court Appointed Trustee and Oath by Individual
  • T-013 Acceptance of Appointment of Court Appointed Trustee and Oath by Corporation
  • T-016 Petition for Order Confirming Appointment of Trustee Pursuant to Minn. Stat. § 501C.0205
  • T-017 Order Confirming Appointment of Trustee Pursuant to Minn. Stat. § 501C.0205
  • T-020 Petition for Order Appointing Guardian ad Litem
  • T-021 Consent to Act as Guardian ad Litem and Oath
  • T-022 Order Appointing Guardian ad Litem
  • T-048 Trust Inventory
  • T-050 Trustee’s Annual Account
  • T-051 Individual Trustee Verification
  • T-052 Corporate Trustee Verification
  • T-053 Approval of Accounts and Release of Trustee
  • T-060 Notice of Crummey Withdrawal Rights
  • T-061 Cover Letter Termination of Trust
  • T-062 Opinion of Trust Counsel: Mortgage Deed and Trust on Trust Property
  • T-064 Receipt of Assets by Distributee and Release
  • T-065 Consent to Petition to ________ and Waiver of Notice of Time and Place for Hearing
  • T-066 Consent to Final Account and Waiver of Notice and Hearing
  • T-068 Attorney Acknowledgement
  • T-100 Petition for _____ Pursuant to Minn. Stat. § 501C.0202
  • T-102 Order for _____________________ Pursuant to Minn. Stat. § 501C.0202
  • T-105 Petition to Allow Account Dated _____ Pursuant to Minn. Stat. § 501C.0202
  • T-107 Order Allowing Account Dated _____ Pursuant to Minn. Stat. § 501C.0202
  • T-110 Petition to Allow Trustee’s Annual Accounts Pursuant to Minn. Stat. § 501C.0202
  • T-112 Order Allowing Trustee’s Annual Accounts Pursuant to Minn. Stat. § 501C.0202
  • T-113 Petition to Terminate Trust and Discharge Trustee Without Approval of Final Account
  • T-114 Order Terminating Trust and Discharging Trustee Without Approving Final Account
  • T-120 Petition to Terminate Trust, Discharge and Release Trustee, and Approve Final Account
  • T-121 Order Terminating Trust, Discharging and Releasing Trustee, and Approval of Final Account and Decree
  • T-124 Petition to Remove/Accept Resignation of Trustee, Allow Accounts Discharge of Trustee, and for Appointment of Successor Trustee Pursuant to Minn. Stat. § 501C.0202
  • T-125 Order Removing/Accepting the Resignation of Trustee, Allowing Accounts, Discharging Trustee, and Appointing Successor Trustee Pursuant to Minn. Stat. § 501C.0202
  • T-126 Petition to Remove/Accept The Resignation of Trustee, and for Appointment Of Successor Trustee Pursuant to Minn. Stat. § 501C.0202
  • T-127 Order Removing/Accepting the Resignation of Trustee, and Appointing Successor Trustee Pursuant to Minn. Stat. § 501C.0202
  • T-200 Petition to _____ Pursuant to Minn. Stat. § 501B.31
  • T-201 Notice and Order for Hearing Pursuant to Minn. Stat. § 501B.31
  • T-202 Order for _______ Pursuant to Minn. Stat. § 501B.31
  • T-210 Petition to Sell, Mortgage or Lease Real Property
  • T-211 Notice and Order for Hearing
  • T-212 Order to Sell, Mortgage or Lease Real Property
  • T-220 Petition by Owner of Interests in Real Property to Sell, Mortgage, or Lease Property Pursuant to Minn. Stat. § 501B.47
  • T-221 Consent to Sell, Mortgage or Lease Real Property Pursuant to Minn. Stat. § 501B.47
  • T-222 Notice and Order for Hearing Pursuant to Minn. Stat. § 501B.47
  • T-223 Order to Sell, Mortgage, or Lease Real Property and Appointing Receiver Pursuant to Minn. Stat. § 501B.47 & 501B.51
  • T-224 Acceptance of Appointment by Receiver
  • T-225 Report by Receiver Pursuant to Minn. Stat. § 501B.51(2)(b)
  • T-226 Notice and Order for Hearing to Confirm Agreement Pursuant to Minn. Stat. § 501B.53
  • T-227 Order Confirming the Agreement to Sell, Mortgage, or Lease Property Pursuant to Minn. Stat. § 501B.53
  • T-230 Petition to Terminate Trust and Discharge Trustee
  • T-231 Notice and Order for Hearing Pursuant to Minn. Stat. § 501B.31
  • T-232 Order Terminating Trust and Discharging Trustee
  • T-234 Petition to Substitute Charitable Beneficiary/Change Purpose of Trust
  • T-235 Order to Substitute Charitable Beneficiary/Change Purpose of Trust
  • T-300 Certificate of Trust
  • T-304 Affidavit of Trustee (Inter Vivos Trust)
  • T-305 Affidavit of Trustee (Testamentary Trust)
  • T-306 Affidavit of Trustee (Business Entity Trustee)
  • T-307 Affidavit of Custodian
  • T-311 Quit Claim Deed: Individual to Trustee
  • T-312 Trustee Deed: Individual Trustees to Individual(s)
  • T-315 Deed of Sale: By Business Entity Trustee to Individuals
  • T-320 Consent of Spouse: Trustee’s Dead of Sale
  • T-400 Petition to Approve Appointment of Assets
  • T-401 Exercise of Power to Appoint Assets
  • T-404 Order Approving Appointment of Assets
  • T-405 Non-Judicial Settlement Agreement
  • T-406 Modification of the Trust by Consent
  • T-407 Termination of Trust by Consent

HARD COPY + CLETrust SUBSCRIPTION:  $249
LINKEDLAW + CLETrust SUBSCRIPTION:  $125 for 1-year subscription

Bundle and save!
Purchase the hard copy and receive a coupon code to purchase the corresponding LinkedLaw eDeskbook for only $50! Code will be sent to you with your hard copy.

Other discounts that may apply:

Quantity discount:
Please email customerservice@minncle.org or call 800-759-8840 to inquire about bulk orders.

STANDARD PRICE
$249.00
DISCOUNTS WILL BE APPLIED DURING CHECKOUT, IF APPLICABLE.
ADDITIONAL RECOMMENDATIONS FOR YOU (10 items):