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.
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.)
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.
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
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
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
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
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
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
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
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
Investment of Trust Assets
Introduction; Historic Overview; Modern Portfolio Theory; The Prudent Investor Rule; Managing the Trust Portfolio
– William C. Kuhlmann & Thomas H. Rauenhorst
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
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
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
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
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
Court Jurisdiction and Procedure
Overview; Court Proceedings; Court Supervision; Specific Actions
– Tessa R. Mielke & Jesse Sheedy
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
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
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
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
More than 70 automated forms (see the CLETrust section of our website for more information about CLETrust):
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:
Please email email@example.com or call 800-759-8840 to inquire about bulk orders.
Take Your Deskbooks to the Next Level With LinkedLaw
Minnesota CLE's Deskbooks, important resources you have known and trusted for decades, are even more valuable with LinkedLaw, an innovative web-based product. LinkedLaw eDeskbooks are available 24/7 online, via your computer or mobile device. In addition to being fully searchable, LinkedLaw eDeskbooks are linked to primary authorities mentioned in the text. Summon the texts of statutes, rules, and cases with simple mouse clicks. Navigate through the book quickly and easily using the table of contents to jump directly to corresponding pages within the book.
And, with a LinkedLaw eDeskbook subscription you will always have the most current version of the Deskbook at your fingertips. All updates and new editions published during the subscription period are incorporated automatically and seamlessly into the LinkedLaw eDeskbook, becoming instantly available at no extra cost.
LinkedLaw eDeskbooks have everything you need to research, prepare and evaluate dynamite analysis – and save valuable time in the process!
Accessing LinkedLaw eDeskbooks
Subscribers have 24/7 access to their LinkedLaw eDeskbooks through their account on the Minnesota CLE website under My Account > eResources & Publications. Access to each LinkedLaw eDeskbook subscription will be available to the subscriber for 12 months from the date of purchase. LinkedLaw eDeskbook subscriptions bundled with a hard copy deskbook end when the next update is published.
Using LinkedLaw eDeskbooks
LinkedLaw eDeskbooks are designed to be user-friendly. Easy-to-use features allow you to navigate quickly through the book, readily search the entire text, and instantly summon the text of primary authorities mentioned in the text. Depending on the device being used, additional features may also be available to you including tools that allow you to copy and paste, zoom in and out, expand the table of contents, view page thumbnails, and more.
Renewing LinkedLaw eDeskbook Subscriptions
Current subscribers to an individual LinkedLaw eDeskbook title can renew their subscription at a specially reduced subscription rate if renewing within the time frame specified.
LinkedLaw can be used on any operating system with a supported internet browser and HTML5. The operating system should have 512MB or more of RAM and a single core CPU 2.0 GHz or dual core CPU 1.5 GHz or higher.
LinkedLaw also can be used on mobile devices that support HTML5. Some features such as the copy and paste tool may not be available on these devices.
The system is designed to recognize the user's device/platform and load the appropriate version of the LinkedLaw eDeskbook.
Test your system by viewing this LinkedLaw sample:
I understand and agree to the following:
The LinkedLaw subscription period will extend for one year from the date you submit your credit card payment information. The subscription fee is nonrefundable. Your subscription will not automatically renew, but you may renew at a reduced price if renewing within the time frame specified. The subscription is nontransferable. LinkedLaw eDeskbook subscriptions bundled with a hard copy deskbook end when the next update is published.
Minnesota Continuing Legal Education grants you a nonexclusive, nontransferable license to access, retrieve, and view the LinkedLaw eDeskbook during your subscription period. Sections of the eDeskbook also may be cut and pasted into your documents and forms may be downloaded for your use. The LinkedLaw eDeskbook is for your personal use only. LinkedLaw contains copyrighted and other proprietary information. You may not in any way make commercial or other unauthorized use, by publication, re-transmission, distribution, copying, sharing, resale, or otherwise, of material obtained from LinkedLaw, except as permitted by the Copyright Act or other law. The compilation of all content in LinkedLaw is the exclusive property of Minnesota Continuing Legal Education and is protected by U.S. and international copyright laws.
Disclaimer and Limitation of Liability:
Any information contained in the materials in LinkedLaw is not legal advice. Non-lawyers should seek the advice of a licensed attorney in all legal matters. Readers should assure themselves that the material in LinkedLaw was current and applicable at the time of the Deskbook's original publication. Obviously, neither Minnesota Continuing Legal Education nor the authors can warrant that the material will continue to be accurate, nor do they warrant it to have been completely free of errors when first published. Readers should verify any statements before relying on them.
The materials reflect the viewpoints of their authors and do not necessarily express the opinions of Minnesota Continuing Legal Education.
Minnesota Continuing Legal Education makes no warranties, express or implied, concerning the materials contained in LinkedLaw. Minnesota Continuing Legal Education expressly disclaims all implied warranties of merchantability and of fitness for a particular purpose.
Minnesota Continuing Legal Education does not warrant that this Website, its services, its servers, or e-mails sent from it are free of viruses or other harmful components. Under no circumstances shall Minnesota Continuing Legal Education be liable for any direct, indirect, incidental, special, punitive, or consequential damages that result in any way from your use of this site, or sites to which it links, or from reliance on or use of information, services, software, or merchandise provided on or through this site, or that result from deletion of files, delays in operation or transmission of data, or any failure of performance of the site.
Minnesota Continuing Legal Education reserves the right to immediately terminate this Agreement and deny you access to LinkedLaw if you materially breach this Agreement, including but not limited to misuse or unauthorized distribution of the LinkedLaw materials.
This Agreement is governed by the laws of the state of Minnesota. If any provision of this Agreement, or its application, shall, at any time or to any extent, be invalid or unenforceable, the remainder of this Agreement shall not be affected thereby. Each other provision of this Agreement shall be valid and enforceable to the fullest extent permitted by law. Failure by Minnesota Continuing Legal Education to enforce any provision does not waive any further enforcement rights.
Do I need any special hardware or software to use LinkedLaw?
LinkedLaw can be used in any Internet browser on any device. Some tools like copy/paste may not be available on mobile devices. Test your system by viewing the LinkedLaw eDeskbook sample.
May I preview LinkedLaw before deciding to subscribe?
You are welcome to give the LinkedLaw eDeskbook sample a test drive!
May I subscribe to a LinkedLaw eDesbook over the phone?
No, purchasing a subscription online is how you activate the link to access your eDeskbook subscription.
Can I be invoiced for a LinkedLaw eDeskbook subscription?
No, subscriptions must be purchased and paid for online.
Is the length of my subscription rounded off to the nearest week or month?
No, your subscription will run one full year, to the day. You can see the expiration date of your subscription under My Account > eResources & Publications.
Once I’ve purchased a LinkedLaw eDeskbook subscription, how do I access it?
Log into your account on the Minnesota CLE website and go to My Account > eResources & Publications. Click the VIEW button by the LinkedLaw eDeskbook title.
Will I always have access to the LinkedLaw eDeskbook eFormbook?
Yes, you will always have access to the eFormbook as long as you have an active subscription to the LinkedLaw eDeskbook.
Do I need to purchase updates for my LinkedLaw eDeskbook?
No, any update or new edition published during your subscription period is included at no extra charge and will be incorporated automatically and seamlessly into your LinkedLaw eDeskbook.
Can I download the forms in my eFormbook?
Yes, and we recommend that you download all of the forms in your eFormbook so you can use them without Internet access.