Minnesota SF571 modifies the Uniform Trust Code, Powers of Appointment, and Uniform Probate Code.

Minnesota SF571 amends various sections of the Minnesota Statutes to modify the Uniform Trust Code, Powers of Appointment, and Uniform Probate Code. Key changes include adjustments to the validity of nonvested property interests and powers of appointment, the role and liability of excluded fiduciaries, and the powers and duties of directing parties. The bill also updates provisions related to the modification and termination of trusts, the appointment of successor trustees, and the powers of investment and distribution trust advisors.

Minnesota SF571 modifies the Uniform Trust Code, Powers of Appointment, and Uniform Probate Code.

Minnesota SF571 amends various sections of the Minnesota Statutes to modify the Uniform Trust Code, Powers of Appointment, and Uniform Probate Code. Key changes include adjustments to the validity of nonvested property interests and powers of appointment, the role and liability of excluded fiduciaries, and the powers and duties of directing parties. The bill also updates provisions related to the modification and termination of trusts, the appointment of successor trustees, and the powers of investment and distribution trust advisors.