Minnesota is implementing changes to the laws that govern trusts, estates, and powers of attorney, with most of the changes effective August 1, 2025. These legislative updates modernize long-standing rules, streamline the...more
Trusts are described in multiple ways, including: living or testamentary, revocable or irrevocable and grantor or non-grantor. These terms are not always mutually exclusive. A trust can be living, revocable and a grantor...more
Settlors often place some or all of the ownership in a closely-held business in a trust. A trustee managing a trust with an interest in a closely held business has difficult management issues to address and this often raises...more