Trust Administration

A trust is just one of many estate planning tools that a Minnesota resident can choose. A recent post on this blog discussed how a trustee in Minnesota has a right to make reasonable investment decisions on behalf of the trust and its ultimate beneficiaries. While...

Most Minnesota attorneys do their work honestly and competently. Unfortunately however, there are some who use their legal knowledge and skill to their own advantage and at their client's expense. In the context of a will or a trust, this often happens when an...

In Minnesota, administrators of family trusts, often called "trustees" have a lot of power. Sometimes, they are in control of millions, or even tens of millions, of dollars in assets. With this power comes a lot of responsibility. Minnesota trustees have an obligation...

Even as far north as Minnesota, people have heard of the professional football team called the "Saints" and may have heard of the professional basketball team called the "Pelicans." These teams have been owned for a long time owned by a Southern billionaire....

As has been reported on this blog in the past, there are many people in Minnesota and elsewhere who may try to sell residents, particularly senior citizens, a revocable living trust, claiming that the device will "avoid probate" and implying that it is a sure-fire way...

Many Minnesotans may have enjoyed the novels of author Tom Clancy. However, about a year after the multimillionaire author's death, his family is engaged in a probate dispute that is starting to develop its own dramatic plot line.The story of the Clancy family pits...

Our readers from the Twin Cities area who follow the Minnesota Timberwolves, or are just all-around fans of NBA basketball, have probably heard about the ongoing saga of Donald Sterling. Recently, the NBA prohibited Sterling from maintaining ownership of his team, the...

Minnesota residents generally want to ensure that their families are happy and taken care of. This holds true even after a person passes away. People don't want to leave their families with a burden or a massive legal headache. In order to avoid these issues, people...

When Minnesota residents set up a trust, they appoint a trustee to be in charge of the principal assets to provide for the beneficiaries. The trustee has a fiduciary duty to the trust, to ensure that it is financially solvent, so that it can provide for the...

Trust-fund beneficiaries have a bad reputation in some ways. Adults are sometimes ridiculed as trust-fund babies and college students from wealthy families are labeled trustafarians. Certainly, there are those who inherit wealth and don't seem to do anything with it...