Current through Register Vol. 49, No. 8, August 19, 2024
Section 501C.0706 - REMOVAL OF TRUSTEE(a) The settlor, a cotrustee, or a beneficiary may petition the court to remove a trustee, or a trustee may be removed by the court on its own initiative.(b) The court may remove a trustee if: (1) the trustee has committed a serious breach of trust;(2) lack of cooperation among cotrustees substantially impairs the administration of the trust;(3) the court determines that removal of the trustee best serves the interests of the beneficiaries because of unfitness, unwillingness, or persistent failure of the trustee to administer the trust effectively; or(4) there has been a substantial change in circumstances or removal is requested by all of the qualified beneficiaries, the court finds that removal of the trustee best serves the interests of all of the beneficiaries and is not inconsistent with a material purpose of the trust, and a suitable cotrustee or successor trustee is available.(c) Pending a final decision on a petition to remove a trustee, or in lieu of or in addition to removing a trustee, the court may order such appropriate relief under section 501C.1001, paragraph (b), as may be necessary to protect the trust property or the interests of the beneficiaries.Added by 2015 Minn. Laws, ch. 5,s 7-6, eff. 1/1/2016.