Full Statute Name:  Minnesota Statutes Annotated. Property and Property Interests (Ch. 500-515b). Chapter 501C. Trusts. Creation, Validity, Modification, and Termination of Trust

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Primary Citation:  M.S.A. § 501C.0408 Country of Origin:  United States Last Checked:  January, 2017 Alternate Citation:  MN ST § 501C.0408 Date Adopted:  2016
Summary:

This Minnesota law enacted in 2016 allows for the creation of a pet trust. A trust may be created to provide for the care of an animal alive during the settlor's lifetime. The trust terminates upon the death of the animal or, if the trust was created to provide for the care of more than one animal alive during the settlor's lifetime, upon the death of the last surviving animal. Interestingly, the trust may not be enforced for more than 90 years.

Statute Text: 

Subdivision 1. Creation of an animal trust authorized; termination. A trust may be created to provide for the care of an animal alive during the settlor's lifetime. The trust terminates upon the death of the animal or, if the trust was created to provide for the care of more than one animal alive during the settlor's lifetime, upon the death of the last surviving animal. Notwithstanding the foregoing, the trust may not be enforced for more than 90 years.

Subd. 2. Enforcement of trust. A trust authorized by this section may be enforced by a person appointed in the terms of the trust or, if no person is appointed, by a person appointed by a court. A person having an interest in the welfare of the animal may request the court to appoint a person to enforce the trust or to remove an appointed person.

Subd. 3. Application of trust property. Property of a trust authorized by this section may be applied only to the trust's intended use, except to the extent a court determines that the value of the trust property exceeds the amount required for the intended use. Upon termination of the trust, or if the court determines the trust has excess funds, the trustee shall transfer the unexpended or excess trust property pursuant to the terms of the trust instrument or, if there is no provision in the trust instrument, then the trust passes to the settlor's heirs-at-law determined as if the settlor died intestate domiciled in this state at the time of distribution.

Subd. 4. Public health programs and trusts. An irrevocable inter vivos trust created under this section is subject to section 501C.1206.

Credits
Laws 2016, c. 135, art. 1, § 3, eff. May 23, 2016.

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