§ 501C.0701 Accepting or Declining Trusteeship
§ 501C.0702 Trustee’s Bond
§ 501C.0703 Cotrustees
§ 501C.0704 Vacancy in Trusteeship; Appointment of Successor
§ 501C.0705 Resignation of Trustee
§ 501C.0706 Removal of Trustee
§ 501C.0707 Delivery of Property by Former Trustee
§ 501C.0708 Compensation of Trustee
§ 501C.0709 Reimbursement of Expenses
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Terms Used In Minnesota Statutes > Chapter 501C > OFFICE OF TRUSTEE

  • 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
  • Fiduciary: A trustee, executor, or administrator.
  • 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.
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Majority: means with respect to an individual the period of time after the individual reaches the age of 18. See Minnesota Statutes 645.451
  • Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
  • Trustee: A person or institution holding and administering property in trust.