{"data":{"id":"us-mn/minn.-stat.-501c.0105","jurisdiction":"us-mn","citation":"Minn. Stat. § 501C.0105","heading":"DEFAULT AND MANDATORY RULES.","body":"(a) Except as otherwise provided in the terms of a trust, this chapter governs the duties and powers of a trustee, relations among trustees, and the rights and interests of a beneficiary.\n(b) The terms of a trust prevail over any provision of this chapter except:\n(1) the requirements for creating a trust;\n(2) the duty of a trustee to act in good faith and in accordance with the terms and purposes of the trust and the interests of the beneficiaries;\n(3) the requirement that a trust and its terms be for the benefit of its beneficiaries, and that the trust have a purpose that is lawful, not contrary to public policy, and possible to achieve;\n(4) the power of the court to modify or terminate a trust under sections 501C.0410 to 501C.0416;\n(5) the effect of a spendthrift provision and the rights of certain creditors and assignees to reach a trust as provided in sections 501C.0502 to 501C.0507;\n(6) the power of the court under section 501C.0702 to require, dispense with, or modify or terminate a bond;\n(7) the power of the court under section 501C.0708, paragraph (b), to adjust a trustee's compensation specified in the terms of the trust which is unreasonably low or high;\n(8) the effect of an exculpatory term under section 501C.1008;\n(9) the rights under sections 501C.1010 to 501C.1013 of a person other than a trustee or beneficiary;\n(10) periods of limitation for commencing a judicial proceeding;\n(11) the power of the court to take such action and exercise such jurisdiction as may be necessary in the interests of justice; and\n(12) the subject-matter jurisdiction of the court as provided in section 501C.0202 and venue for commencing a proceeding as provided in section 501C.0207, except as provided in section 501C.0102.","path":["PROPERTY AND PROPERTY INTERESTS","CHAPTER 501C. TRUSTS","GENERAL PROVISIONS"],"source_url":"https://www.revisor.mn.gov/statutes/cite/501C.0105","current_through":"2025 Minnesota Statutes","vintage":"","retrieved_at":"2026-09-02T22:10:48Z","sha256":"d8c8a7692aabfcc1c7f5a1710983e972db3268941196d6a5012922a1fce7cc3e","source_id":"us-mn","stale":false,"prev":"us-mn/minn.-stat.-501c.0104","next":"us-mn/minn.-stat.-501c.0106"},"notice":"GroundRules: Original legal text. Not legal advice."}