Minnesota Statutes 501C.0303 – Representation by Fiduciaries and Parents
(a) To the extent there is no conflict of interest between the representative and the person represented or among those being represented with respect to a particular question or dispute:
Terms Used In Minnesota Statutes 501C.0303
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Decedent: A deceased person.
- Descendent: One who is directly descended from another such as a child, grandchild, or great grandchild.
- Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
- Minor: means an individual under the age of 18. See Minnesota Statutes 645.451
- Person: may extend and be applied to bodies politic and corporate, and to partnerships and other unincorporated associations. See Minnesota Statutes 645.44
- Trustee: A person or institution holding and administering property in trust.
(1) a conservator may represent and bind the estate that the conservator controls;
(2) an agent having authority to act with respect to the particular question or dispute may represent and bind the principal;
(3) a trustee may represent and bind the beneficiaries of the trust;
(4) a personal representative of a decedent‘s estate may represent and bind persons interested in the estate; and
(5) a parent may represent and bind the parent’s minor or unborn child if a conservator for the child has not been appointed.
(b) If a disagreement arises between parents seeking to represent the same minor child:
(1) the parent who is a beneficiary of the trust that is the subject of the representation is entitled to represent the minor child;
(2) if both parents are beneficiaries of the trust that is the subject of the representation, the parent who is a lineal descendent of the settlor is entitled to represent the minor child;
(3) if neither parent is a beneficiary of the trust that is the subject of the representation, the parent who is a lineal descendent of the settlor is entitled to represent the minor child; or
(4) if neither parent is a beneficiary or a lineal descendent of the settlor of the trust that is the subject of the representation, a guardian ad litem must be appointed to represent the minor child.