MN TRUST ADMINISTRATION DESKBOOK WITH EFORMBOOK
Deskbook
ITEM #:  50092925   |   PUBLISHED:  JANUARY 30, 2025
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Minnesota Trust Administration Deskbook with eFormbook, 5th Edition

Editors:  Diana l. Marianetti, Sarah Sonday & Ivory S. Umanah

The Fifth Edition of the Minnesota Trust Administration Deskbook has been fully updated, and includes an accompanying eFormbook with more than 90 trust forms ready to download and use. The Deskbook is organized to make it easier to navigate and provide practical information for trust attorneys. The New Edition includes detailed coverage of the creation and modification of trusts, managing the day-to-day administration of trusts, handling the termination of trusts, and much more! The layout of the Deskbook puts the focus on creation, modification, and administration of trusts, in addition to providing in-depth coverage to the topics readers said are most important to their practice. The Fifth Edition is arranged to allow readers to quickly and easily find the information they need. It also includes updated sample forms and clauses, helpful comparison charts, and a fully updated subject index and table of authorities. The Minnesota Trust Administration Deskbook includes an eFormbook, accessible via the Minnesota CLE website, which provides access to more than 90 trust forms. The forms are available for owners of this Deskbook to download and save for future use.


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CHAPTER ONE
Overview and Sources of Minnesota Trust Law
Scope of Chapter; Introduction and General History; Holdover Provisions of Chapter 501B; Minnesota Trust Code – Minnesota Statutes Chapter 501C; Powers of Appointment of Minnesota Statutes Chapter 502; Appendix A – Trust Creation and Administration Checklist
– Beth T. Morrison & Edward H. Tully

CHAPTER TWO
Professional Responsibility
Introduction; Identifying the Client; Duties to Non-Client Beneficiaries; Representing the Trustee When Beneficiaries or Creditors are Current Clients; Representing the Trustees or Beneficiaries Upon the Death of the Former Client; Representing Cotrustees or Multiple Beneficiaries; Competence and Communication; Fees; Business Transactions with Trustees or Beneficiaries; Attorney as Trustee; Ending the Attorney-Client Relationship; Resources
– Aram V. Desteian & Benjamin H. Formell

CHAPTER THREE
Creation and Modification of Trusts
PART I: CREATION; Statutory Authority for the Creation of Trusts; Trust Types; PART II VALIDITY; The Essential Elements of a Trust; Inter Vivos Trusts; Testamentary Trusts; The Rule Against Perpetuities; Trust Construction; Rights of Creditors and Spouses to a Settlor’s Trust Assets; Tax Consequences of the Creation of a Trust; Disclaimers; PART III: MODIFICATION; Modification of Irrevocable Trusts; Appendix A – Overview of Trust Modification Chart
– Michelle Rehbein 

CHAPTER FOUR
Revocable Trusts
PART I: CREATION AND ADMINISTRATION DURING SETTLOR’S LIFETIME; Introduction; Creating, Amending, or Revoking the Trust; Funding and Administering a Revocable Trust During the Settlor’s Lifetime; Incapacity and Trustee Succession; Power of the District Court Over Revocable Trusts and the Court’s Authority to Set Aside a Revocable Trust; Taxation During Settlor’s Life; PART II: TRUST ADMINISTRATION AFTER SETTLOR’S DEATH; Administration of Revocable Trust After the Settlor’s Death; PART III: INTERPRETATION; Laws and Comparison of Revocable Trusts and Wills; Appendix A – Transfer of Assets; Appendix B – Sample Instruction Letter Regarding Transfer of Mutual Fund Accounts; Appendix C – Sample Letter From Settlor to Trustee Regarding Delivery of Deed with Trustee Receipt; Appendix D – Sample Affidavit of Delivery; Appendix E – Sample Appointment of Successor Trustee
– Robyn L. Ingber

CHAPTER FIVE
Termination of Trusts
Introduction; When Does a Trust Terminate?; Steps to Wind Up the Trust Administration
– Kelli A. Hill & Marcia E. Urban

CHAPTER SIX
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 SEVEN
Supplemental and Special Needs Trusts
Introduction; Supplemental Needs Trusts; Purely Discretionary Trusts; Special Needs Trusts; Pooled Special Needs Trusts; ABLE Act Accounts; Appendix A – Trust Comparison Table
– Jeffrey W. Schmidt

CHAPTER EIGHT
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 Minnesota’s Uniform Statutory Rule Against Perpetuities; Effective Dates for Minnesota USRAP; The USRAP and “Grandfathering” Regulations of the Federal Generation-Skipping Transfer Tax
– Erin E. Kragh

CHAPTER NINE
Trustees’ Duties, Powers, and Liabilities
Overview of a Trustee’s Powers and Duties Relating to the Administration of the Trust; Specific Powers of a Trustee; Specific Duties of Trustee; Delegation of Duties; Liability to Parties Other Than Trust Beneficiaries; A Beneficiary’s Remedies for Breach of Trust; Limitation of Liability; Appendix A – Institutional Names for Legal Document Usage
– Christopher J. Burns, Terri L. Lindfors, Maria D. Plese & Lloyd S. Stern

CHAPTER TEN
Removal of a Trustee
Grounds for Removal of a Trustee; Standard of Review for Trustee Removal; Standing to Petition for Removal of a Trustee; Remove of Trustees from Charitable Trusts; Proposed Legislation
– Christopher J. Burns & Eric M. Friske

CHAPTER ELEVEN
Investment of Trust Assets
Introduction; Modern Portfolio Theory; The Prudent Investor Rule; Managing the Trust Portfolio; Appendix A – Historic Overview
– Jason W. Schuller & Nathan Erickson

CHAPTER TWELVE
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 and Discount; Sole Proprietorships; Natural Resources (Except Timber); Timber; Annuities, Employment Distributions, Other Property Subject to Depletion; Trustee’s Power to Adjust; Charges Against Income and Principal
– Terry L. Slye & Andrew M. Baese

CHAPTER THIRTEEN
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 FOURTEEN
Real Estate Issues
Real Estate; Environmental Liability; The Minnesota Corporate Farm Act; Appendix A – Minnesota Statutes Section 501C.1013 Certificate of Trusts
– Christopher B. Hunt, Brandon J. Edmundson & Joseph G. Maternowski

CHAPTER FIFTEEN
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 Calculation; Tax Planning for Trust Distributions; Subchapter S Trusts; Grantor Trust Rules and Planning for Use of Defective Trusts
– John R. Bedosky

CHAPTER SIXTEEN
Court Jurisdiction and Procedure
Overview; Court Proceedings; Court Supervision; Specific Actions
– Nathaniel J. Ajouri

CHAPTER SEVENTEEN
Post-Death Distributions from Retirement Accounts
Definitions and Concepts; Distribution Options if Account Owner Dies Before the RBD; Distribution Options if Account Owner Dies On or After the RBD and the Following Person(s) is the Beneficiary; Retirement Accounts Paid to Special Needs Trusts, Supplemental Needs Trusts, or Pooled Trusts for a Disabled Beneficiary; Appendix A –Single Life Expectancy Table, Joint and Last Survivor Table, and Uniform Life Expectancy Table
– Courtney R. Sebo Savica & Melissa L.G. Johnson

CHAPTER EIGHTEEN
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; Important Issues Not Covered in the Minnesota Statute; Governing Law
– Michael P. Sampson & Jason W. Schuller

CHAPTER NINETEEN
Decanting
Introduction; Decanting Defined and Legal Basis for Decanting; Is Decanting the Right Choice?; When to Decant; Who Can Decant and What Changes Can be Made?; Restrictions on Exercise of Decanting Power; Method of Decanting; Virtual Representation; Trustee Liability; Tax Considerations; Other Non-Tax Considerations; The Other Side – How to Advise Individuals Wanting to Restrict Flexibility; The Future of Trust Decanting in Minnesota
– Beth Abraham

CHAPTER TWENTY
Optional Form Language, Trust Institutions, and Disclaimer Checklist
List of Major County Headings; Optional Paragraph Language; Trust Institutions; History of Bank Mergers and Name Changes; Disclaimer Checklist
– Richard L. Baum, Cameron R. Kelly & Emily Valentine-Grimm

Table of Authorities
Subject Index

  • 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 and Oath 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-067 Trust Termination Pursuant to Marital Termination Agreement
  • T-068 Attorney Acknowledgment
  • 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 Approval of 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 (Individual Trustee)
  • T-301 Certificate of Trust (Business Entity Trustee)
  • T-304 Affidavit of Individual Trustee (Inter Vivos Trust)
  • T-305 Affidavit of Business Entity Trustee (Testamentary Trust)
  • T-306 Affidavit of Business Entity Trustee (Inter Vivos Trust)
  • T-307 Affidavit of Custodian
  • T-311 Quit Claim Deed: Individual to Trustee
  • T-312 Trustee’s Deed (By Individual Trustee)
  • T-315 Trustee’s Deed (By Business Entity Trustee) 
  • T-320 Consent of Spouse (Trustee’s Deed of Sale)
  • T-321 Consent of Spouse (Trustee’s Deed of Distribution)
  • T-400 Petition to Approve Appointment of Assets
  • T-401 Notice of Exercise of Power to Appoint Assets
  • T-404 Order [Approving][Denying] Appointment of Assets
  • T-405 Nonjudicial Settlement Agreement
  • T-406 Modification of Trust by Consent
  • T-407 Termination of Trust by Consent
  • T-501 Request to Reissue United States Savings Bonds to a Personal Trust
  • T-502 Affidavit of Trustee
  • T-503 Election to Treat a Qualified Revocable Trust as Part of an Estate
  • T-504 Waiver of Accounting and Release
  • T-505 Consent to Final Account and Plan of Division and Release
  • T-506 Plan of Division and Proposed Plan of Distribution
  • T-507 No. 37-M Trustee’s Deed by Individual(s)
  • T-508 No. 38-M Trustee’s Deed by Individual to Joint Tenants
  • T-509 No. 39-M Trustee’s Deed by Corporation
  • T-510 No. 40-M Trustee’s Deed by Corporation to Joint Tenants 
  • T-511 Form 90.1.1 Certificate of Trust by Individual
  • T-512 Form 90.1.3 Affidavit of Trustee (Inter Vivos Trust)
  • T-513 Request for Distribution, Consent to Final Account and Distribution Without Court Order, Notice, or Hearing, and Release and Refunding Agreement
  • Trust Creation and Administration Checklist 
  • Overview of Trust Modification Chart 
  • Sample Instruction Letter Regarding Transfer of Mutual Fund Accounts
  • Sample Letter From Settlor to Trustee Regarding Delivery of Deed with Trustee Receipt
  • Sample Affidavit of Delivery
  • Sample Appointment of Successor Trustee
  • Trust Comparison Table
  • Institutional Names for Legal Document Usage
  • Minnesota Statutes Section 501C.1013 Certificate of Trusts
  • Single Life Expectancy Table, Joint and Last Survivor Table, and Uniform Life Expectancy Table
  • Disclaimer Checklist

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STANDARD PRICE
$259.00
MSBA MEMBER, NEW LAWYER, AND OTHER DISCOUNTS, IF APPLICABLE, WILL BE APPLIED DURING CHECKOUT.
PRE-ORDER TODAY!
Hard copy deskbook new edition to be released by the end of February. LinkedLaw deskbook access available immediately, with seamless update to new edition when released.
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