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Senate passes updates to Minnesota trust and probate codes
Summary
The Senate approved Senate File 571 to revise Minnesota's Uniform Trust Code and related probate provisions, extending certain trust durations, raising the small-trust termination threshold and clarifying directed-trust duties; the vote was 64-0.
Senate File 571, a package of technical and substantive updates to Minnesota's trust and probate laws, passed the Minnesota Senate following floor debate and a roll-call vote.
The bill, presented by Senator Wesselin, revises the Uniform Trust Code and parts of the Uniform Probate Code. "After careful study, the Bar Association has recommended updates to the trust code as well as a handful of related changes to the probate code," Wesselin said on the floor, summarizing the bill's origins.
The measure would lengthen the maximum duration a…
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