Current through Register Vol. 49, No. 8, August 19, 2024
Section 501C.0815 - GENERAL POWERS OF TRUSTEE(a) A trustee, without authorization by the court, may exercise: (1) powers conferred by the terms of the trust; and(2) except as limited by the terms of the trust:(i) all powers over the trust property which an unmarried competent owner has over individually owned property;(ii) any other powers appropriate to achieve the proper investment, management, and distribution of the trust property; and(iii) any other powers conferred by this chapter.(b) The exercise of a power is subject to the fiduciary duties prescribed by this chapter.Added by 2015 Minn. Laws, ch. 5,s 8-12, eff. 1/1/2016.