Probate & Trust Law Section Conference Manual ... - Minnesota CLE

2. A noncharitable irrevocable trust may be modified or terminated upon
consent of all “beneficiaries” if Court concludes the continuance of the
trust is not necessary to achieve any material purpose of the trust.
N.D.C.C. § 59-12-11(1).
3. The Court may modify the administrative or dispositive terms of a trust, or
terminate the trust if, because of circumstances not anticipated by the
settlor, the modification or termination will further the purposes of the
trust. N.D.C.C. § 59-12-12.
4. After notice to “qualified beneficiaries,” the trustee may terminate and
distribute a trust with a value under $100,000 if the trustee concludes the
value is insufficient to justify the costs of administration. N.D.C.C. § 59-
12-14.
5. The Court may remove the trustee and appoint a successor trustee if the
Court determines the value is insufficient to justify the costs of
administration. N.D.C.C. § 59-12-14(2).
6. “Beneficiary” is different than a “qualified beneficiary”:
59.09-03. (103) Definitions.
. . . .
* * * * * * * * * * * * * *
3. “Beneficiary” means a person that:
a. Has a present or future beneficial interest in a trust, vested or
contingent, including the owner of an interest by assignment or
transfer; or
b. In a capacity other than that of a trustee, holds a power of
appointment over trust property.
. . .
16. “Qualified beneficiary”:
a. Means a beneficiary who, on the date the beneficiary’s
qualification is determined:
(1) Is a permissible distributee of trust income or principal;
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