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

following who is then able to act and does not refuse to consider whether a trustee should be
substituted:
My spouse, then
*Opt[Name of Successor Trustee Substitutor], then
The primary beneficiary of the Trust if age 25 or older, then
If the trust has no primary beneficiary who is age 25 or older, or if the primary beneficiary is
unable to act, then by a majority of the beneficiaries then eligible to receive a distribution
from the trust who are at least 25 years old, and if none of such beneficiaries are at least 25
years old, then by a majority of the class consisting of (1) the persons serving as Guardians
for minor Beneficiaries then eligible to receive a distribution from the Trust, (2) and the last
person who then has capacity to act who served as guardian for any beneficiary over age 18
and less than 25 years old (and, if such child had more than one guardian, all of such
guardians acting together).
A person having a removal power has the right to review Trust records and accountings. No person
shall be liable for the exercise or failure to exercise the removal power. No person shall have the duty
to monitor the performance of a trustee or take any action with respect to a Trust by reason of having
a removal power. Each person having the power to remove the trustee of a Trust shall be held
harmless and indemnified from the assets of the Trust for any claim or cause of action threatened or
filed for exercising or failing to exercise the removal power.
The right to remove a trustee under this subsection shall not be deemed to grant to the person holding
that right any of the powers of that trustee.
*Optional Provision-Insert If Trust Advisor Is Selected [Nothing in this subsection shall limit the
authority of a Trust Advisor to remove a trustee under the provisions of Section ____ of this Article.]
Alternate 1.05 Trustee Substitution
[The primary beneficiary] [A majority of the group consisting of the beneficiaries] of the trust (other
than the trustee that such group proposes to remove) who are then living and competent to act shall
have the right to remove any trustee hereunder, whether that trustee is currently serving or has been
named or designated to serve in the future, for any reason or no reason at all, but only if, on or before
the effective date of removal, a person who qualifies to serve as an independent trustee has been
appointed and commenced service the person or group exercising the right to remove. If any trustee
is removed under this Section, any successor trustee appointed by the removed trustee shall not take
office.
The independent trustee so appointed shall not be a person who is related or subordinate as those
terms are defined under Section 672 (c) of the Internal Revenue Code to the person or persons who
are authorized to remove trustees. A person having a removal power has the right to review trust
records and accountings. No person shall be liable for the exercise or failure to exercise the removal
power. No person shall have the duty to monitor the performance of a trustee or take any action with
respect to a trust by reason of having a removal power. Each person having the power to remove the
trustee of a trust shall be held harmless and indemnified from the assets of the trust for any claim or
cause of action threatened or filed for exercising or failing to exercise the removal power.
The right to remove a Trustee under this subsection shall not be deemed to grant to the person
holding that right any of the powers of that trustee.
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