2000 Minnesota Code
Chapters 500 - 515B Property Interests and Liens
Chapter 501B Trusts
Section 501B.15 Division and merger of trusts.
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.
HIST: 1995 c 130 s 2
Disclaimer: These codes may not be the most recent version. Minnesota may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
