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

Drafting With the Corporate Trustee in Mind
Introduction
As drafters, you are the architects of the document that someday will be
put into action. It is important that your document be clear, concise, accurately
express the intent of the client and have adequate provisions to enable the
smooth administration of the trusts that result. If you plan to name a corporate
trustee, they should have input in the drafting of your document. You should
utilize their resources so you can include the optimal language in your document
and give the corporate trustee an opportunity to review it. Remember, the
document you are drafting today will someday result in the permanent terms of a
trust. It is better to identify and correct issues or ambiguities in the drafting
process than in the courtroom. Communication is very important. Rely on the
resources that the corporate trustee can provide because of the scale of what
they can offer, and the resources they have available.
Common Issues for the Corporate Trustee.
a. Multiple Amendments and Codicils.
1. Unless the amendment or codicil is addressing a simple
change such as replacing the name of a successor trustee
or adding a gift, consider the benefit of have one controlling
document. Executing multiple amendments makes it much
more likely that some aspect of the blended documents will
inconsistent. The disadvantages far outweigh the
advantages and it’s not worth the risk. At the very least it
makes administration more difficult.
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