A trustee who manages and administers a trust fund has many responsibilities, including specific duties imposed under the Minnesota Trust Code. Among the statutory responsibilities is the duty of loyalty, which encompasses a prohibition against self-…
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When a person creates a will or trust, he or she is legally required to have the capacity to sign the document. The law also requires that the person be exercising his or her own free will in determining the contents of the document, including those…
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If a bankruptcy case is successfully completed, the bankruptcy court grants the debtor a discharge, which gives the debtor a fresh start by relieving him or her of personal liability for most types of debt. However, the U.S. Bankruptcy Code provides…
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The rules for nonjudicial settlement agreements relating to Minnesota trusts changed substantially on January 1, 2016, when the new Minnesota Trust Code became effective. The law, which generally reflects the Uniform Trust Code, modernized the stat…
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If you know someone cared for by a guardian, and the guardian is not fully caring for the person, is there anything you can do to help? Absolutely. Enforcing guardian responsibilities falls under a type of legal practice called probate litigation, …
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In a bankruptcy case, many debts are dischargeable, including credit card debt, medical bills, utility bills, and personal loans. When a debt is discharged in bankruptcy, the debtor no longer has to pay it. However, a debtor’s right to have debts d…
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A conservator is a person appointed by the probate court to manage a person’s financial affairs or estate. For a conservator to be appointed, the court must determine that the person lacks the capacity to manage his or her own finances and also h…
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No matter how much careful thought and professional advice goes into an estate plan, there are times when family members have disagreements after a trust has been set up as part of an estate. Sibling rivalries can surface or re-surface, second marria…
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Minnesota state laws include the Uniform Guardianship and Protective Proceedings Act. A guardianship proceeding is a process in probate court through which a guardian is appointed for a minor or a person who is determined by the court to be incapac…
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In bankruptcy cases, a bankruptcy trustee has the ability to void certain fraudulent transfers of property made by the debtor prior to filing bankruptcy. This ability is often referred to as the bankruptcy clawback provision. When fraudulent transf…
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