Minn. Stat. § 501C.0506: OVERDUE DISTRIBUTION.
Where this section sits in the code
- PROPERTY AND PROPERTY INTERESTS
- CHAPTER 501C. TRUSTS
- SPENDTHRIFT TRUSTS; CREDITOR'S CLAIMS AND DISCRETIONARY TRUSTS
(a) In this section, "mandatory distribution" means a distribution of income or principal which the trustee is required to make to a beneficiary under the terms of the trust, including a distribution upon termination of the trust. The term does not include a distribution subject to the exercise of the trustee's discretion even if (1) the discretion is expressed in the form of a standard of distribution, or (2) the terms of the trust authorizing a distribution couple language of discretion with language of direction.
(b) Whether or not a trust contains a spendthrift provision, a creditor or assignee of a beneficiary may reach a mandatory distribution of income or principal, including a distribution upon termination of the trust, if the trustee has not made the distribution to the beneficiary within a reasonable time after the designated distribution date.
Collected 2026-09-02T22:10:48Z. Source file · JSON